(The Center Square) – A new report from a Federal Reserve branch says 2024 could see millions of border crossings.
The Federal Reserve Bank of San Francisco estimates that 3.8 million undocumented immigrants will enter the U.S. in fiscal year 2024 at January’s rates, and notes its contrast with the Congressional Budget Office’s estimate in January that 3.3 million total immigrants will enter the country in the same time frame.
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By comparing the states’ number of immigration court cases with the ratio of job vacancies to unemployed individuals, the Federal Reserve’s report estimated higher levels of illegal immigration — using CBO methods but with more recent data — and found recent immigration spikes are responsible for approximately one fifth of the decline in the ratio of job vacancies to unemployed individuals.
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“The Congressional Budget Office recently raised its demographic projections for net U.S. immigration. Most of the increase in the projections came from undocumented immigrants” wrote Federal Reserve author Evgeniya A. Duzhak.
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Duzhak’s study also found that Florida, New York, Texas and California received the highest volume of immigration cases in 2023 and 2023. In per capita terms, however, Louisiana, Massachusetts, Utah, and Colorado were the highest, suggesting these states may have had the relatively highest labor market changes from migration.
* Original Article:
https://justthenews.com/nation/states/center-square/fed-38-million-illegal-immigrants-could-enter-us-2024-affecting-wage
