The pandemic brought global mobility and migration to a standstill. In the US, migration had already been waning in recent years due to economic recession and a proliferation of policies intended to thwart would-be immigrants.
Watch the entire event below.
Pia Orrenius, a labor economist who manages the regional and microeconomics group in the Dallas Federal Reserve Research Department, addresses the irony that at a time when the West most needs immigrants to make up for its aging workforce, sentiment is turning against immigration. While some of the shortfall in labor supply growth can be addressed by technology and other changes, the ultimate cost of less immigration is slower economic growth.
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