Economy Definition
The Boundless Immigration Glossary
ECONOMY
In the context of U.S. immigration, “economy” refers to how immigration impacts and interacts with the financial system, workforce, and overall economic growth of the United States. Key aspects include:
Labor Market – Immigrants contribute to various sectors of the labor force, filling jobs ranging from low-wage positions to highly skilled roles like tech, healthcare, and academia.
Economic Growth – Immigrants can drive economic growth by starting businesses, increasing demand for goods and services, and contributing to innovation.
Tax Contributions – Immigrants, regardless of status, often pay taxes, including income, property, sales, and Social Security taxes, supporting public services and the broader economy.
Remittances – Some immigrants send part of their earnings to family members abroad, impacting both the U.S. and foreign economies.
Wages and Competition – The presence of immigrant workers can affect wages and competition in specific industries, which can have broader effects on economic conditions.