What It Means for Your Wallet

Immigration tends to benefit the overall economy--but not everyone gains

•IS ALL THIS IMMIGRATION GOOD FOR THE ECONOMY?

By and large, yes. Immigrant labor is a drag on wage growth, thus keeping a lid on inflation and interest rates. As a result, prices for goods and services are lower, and citizens can purchase more. And immigrants are consumers too: some 80% of what undocumented workers earn in the U.S. stays in the country. A recent study by economists at the University of North Carolina found that Hispanic residents, 45% of whom were undocumented, contributed $9.2 billion in spending to North Carolina's economy in 2004. By taking the least desirable jobs,...

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