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Money Writer: Immigrants Boost Job Prospects for All Americans

Tuesday, 29 Jul 2014 05:32 PM

By Courtney Coren

Immigrant workers actually help increase employment opportunities for Americans across the board, economics and financial writer Jonathan Todd tells Newsmax TV.

Todd told Ed Berliner on "MidPoint" on Tuesday that studies "by labor economists like Giovanni Peri over at [the University of California,] Davis [show] that immigrant workers actually do boost the employment prospects across the economy."

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"Just because you bring in low-wage workers from abroad, that doesn't mean that you're necessarily taking jobs away from domestic, native-born workers," he explained.

"It sounds counter-intuitive," Todd said. "But it's actually worked out that way — to have that labor pool available has actually opened up more capital towards bringing native, domestic workers into the workforce."

Illegal immigrant workers are a burden for states, but it usually ends up paying off, the financial writer explained.

"There was a 2006 study by the state of Texas, and they found that undocumented workers actually cost the state of Texas about $500 million or so in terms of services provided — hospitals, school, extra policing, that kind of thing," Todd explained.

However, "the same study noted that the same migrant workers improved, increased the [Gross Domestic Product] of the state by about $18 billion."

"That's a pretty good return on assets," he added.

The reason it works this way, Todd explained, is that migrant workers "increase the demand for housing, especially in lower-wage, more impoverished rural areas, they have the effect of reducing costs of food or childcare, that kind of service."

These "second-order effects" help build "the economy by having that many more people who are wage earners, who are going to be consumers in that local area and in that state."

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