report by the International Monetary Fund (IMF) says that ”A one percentage point increase in the share of migrants in the adult population increases GDP per person in advanced economies by up to 2 percent in the longer term. This increase comes primarily from an increase in labor productivity, instead of an increase in the workforce-to-population ratio.” Several recent studies suggest that the proposed border extension would not only fail to free jobs for US workers but would actually lead to labor shortages and reduced economic output, comments prominent forex broker Pablo
Soria de Lachica.
As noted in an
article by the Wharton Public Policy Initiative, the actual construction of the wall portions would certainly create jobs for builders, service staff, and maintenance personnel; But this spike in demand would present a problem given the shortage of construction workers in the United States, and this ”will, at best, affect labor costs; at worst, it may compromise the general feasibility of a prompt construction of the wall.” The dilemma highlights yet again the importance of immigrant laborers, many of whom undertake jobs that Americans are unwilling to do, according to
Vanda Felbab-Brown, a senior fellow at Washington, DC-based research group The Brookings Institution.
In a broader context, economists and political observers have raised concerns about the impact of the border wall extension on the labor market through its potential effect on the trade relations between Mexico and the United States, Pablo
Soria de Lachica notes. The Wilton Center estimates that almost five
million US jobs are dependent on trade with Mexico, so any retaliative measures would hinder the growth of US businesses and their ability to hire more people. Professor William R. Kerr of Harvard Business School has devoted more than 10 years to studying the economic effects of migration, concluding that it contributes strongly to innovation and growth. In an interview for
Forbes, Kerr commented, ”The workforces are rapidly aging in most advanced countries, and public debt levels are high. So what’s the national strategy toward a healthy economy and future gains? There are several levers…, but immigration can also be a powerful way for countries to continue economic development and growth.”
Soria de Lachica graduated from Universidad Tecnologico de Mexico (UNITEC) with an MBA, going on to specialize in international trading and ultimately become one of the most prominent forex experts globally. His extensive experience allows him to maximize profits for his clients by combining professional guidance and educational projects. He is currently collaborating with Kartoshka – a company bringing the latest technologies in sales, telemarketing, and customer support.
Pablo Soria de Lachica – Foreign Exchange Specialist: http://PabloSoriaDeLachicaNews.com
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Pablo Soria de Lachica Analyzes Potential Economic Impact of Mexico Border Wall Extension: https://finance.yahoo.com/news/pablo-soria-lachica-analyzes-potential-221000897.html
SOURCE: Pablo Soria de Lachica
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