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Does immigration affect the United States economy? In 2013, the Center for American Progress reported that immigrants added $1.6 trillion to the total United States gross domestic product. The debate over immigrants and how they affect the United States economy has continued for several years. Both sides argue immigration’s positive and negative impacts, and it is hard to distinguish the facts. This article looks only at the facts to answer the question, “Does immigration affect the economy?”
The United States is known for its amazing opportunity for small businesses. Immigrants typically take advantage of this opportunity; they are statistically more driven to do so than other Americans. According to statistics gathered by the Organisation for Economic Cooperation and Development (OECD), immigrants are 10% more likely to own a small business than native-born Americans. A third of the companies that started up between 2006 and 2012 had at least one immigrant founder. More than half of the privately-owned companies in the United States valued over $1 billion were founded by immigrants.
These numbers suggest that immigrants help to build and promote small businesses in the United States. This leads to more jobs and higher sales and consumer rates, which results in higher manufacturing needs. This all supports the trend for a strengthening national economy, as compared to a weakening one.
The debate over how immigrants affect wage has endured since the 1800s. Some believe that immigrants will work at lower wages for the same job that an American might take, which theoretically reduces wages in the United States and harms the local economy. This isn’t necessarily true. In fact, the United States is seeing an increase in worker’s wages due to a higher demand for goods and services. This encourages workers to put money back into the economy by investing in those goods and services. As shown through the OECD statistics, immigrant-built businesses have a positive effect on the economy and on American jobs. There has been no known correlation between immigrant workers and a decrease in wages.
The United States is ever-changing, and there is a push for better products that provide solutions for the everyday needs of Americans. Industries with immigrant workers have shown a 30% increase in the number of patents submitted by local inventors. This demonstrates a steady trend ― fresh ideas spark original innovations that create new businesses and products and a stronger economy.
Immigration helps build the United States economy and continues to improve business by leading the way with better innovations. If you would like to be a part of the growth of the United States and want to obtain your Green Card or visa or apply for citizenship, the immigration attorneys at Hernandez Law Group, P.C. can help. Contact Hernandez Law Group, P.C. today for more information and take the next steps to achieve your American dream.