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Closing Economic Windows: How H-1B Visa Denials Cost U.S.-Born Tech Workers Jobs and Wages During the Great Recession

June 9, 2014 Comments off

Closing Economic Windows: How H-1B Visa Denials Cost U.S.-Born Tech Workers Jobs and Wages During the Great Recession
Source: Partnership for a New American Economy

The Partnership for a New American Economy’s new report, Closing Economic Windows: How H-1B Visa Denials Cost U.S.-Born Tech Workers Jobs and Wages During the Great Recession, shows how existing H-1B visa lottery caps disproportionately hurt American-born tech workers by slowing job and wage growth in more than 200 metropolitan areas across the United States. H-1B visa denials in 2007 and 2008 caused these areas to miss out on creating as many as 231,224 tech jobs for American-born workers in the years that followed and cost U.S.-born, college-educated workers in computer-related fields as much as $3 billion in aggregate annual earnings.

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Immigrants Boost U.S. Economic Vitality through the Housing Market

June 21, 2013 Comments off

Immigrants Boost U.S. Economic Vitality through the Housing Market

Source: Partnership for a New American Economy

New research by Americas Society/Council of the Americas (AS/COA) and Partnership for a New American Economy (PNAE) finds that the 40 million immigrants in the United States have created $3.7 trillion in housing wealth, helping stabilize less desirable communities where home prices are declining or would otherwise have declined.

Evidence already shows that immigration helps stem the aging crisis that afflicting developed economies around the world. Since immigrants are more likely to be of working age, they help fill gaps in the labor force as the U.S. baby boom generation retires at a rate of more than 10,000 per day. But less attention has been paid to how immigration affects the housing market.

Immigrant workers strengthen the housing market in three ways:

  • They directly drive housing demand through their own purchasing power. The 40 million immigrants in the United States represent a powerful purchasing class—reflected by their demand for housing, as well as for other locally produced goods and services—that bolster the value of homes in communities across the country.
  • They indirectly generate demand by drawing U.S.-born individuals to opportunities in growing areas. The research shows that for every 1,000 immigrants settling in a county, 250 U.S.-born individuals follow, drawn by increased economic opportunity.
  • They shift demand for housing within metro areas toward neighborhoods that had fallen out of favor. The research finds that immigrants often contribute to the stabilization of less desirable neighborhoods, helping those areas become viable alternatives for middle- and working-class Americans. This opens up new opportunities for those without homes to consider purchases in areas once in decline—an important trend in expensive metro areas.

Open For Business: How Immigrants Are Driving Small Business Creation In The United States

August 24, 2012 Comments off

Open For Business: How Immigrants Are Driving Small Business Creation In The United States
Source: Partnership for a New American Economy

“Open For Business: How Immigrants Are Driving Small Business Creation In The United States” analyzes the increasing importance of foreign-born entrepreneurs on U.S. economic growth and job creation. Picking up and moving to another country is brave and risky, so perhaps it is not surprising that immigrants are venturing out and starting new businesses at a rate that far outpaces their share of the population. From local neighborhood shops to America’s largest companies, immigrant business owners contribute more than $775 billion dollars in revenue to our annual Gross Domestic Product and employ one out of every ten American workers at privately-owned companies across the country.

Key findings of the report include:

  • Immigrants started 28% of all new U.S. businesses in 2011, despite accounting for just 12.9% of the U.S. population
  • Over the last 15 years, immigrants have increased the rate by which they start businesses by more than 50 percent, while the native-born have seen their business generation rate decline by 10 percent
  • Immigrants are now more than twice as likely to start a business as the native-born
  • Immigrants start more than 25% of all businesses in seven of the eight sectors of the economy that the U.S. government expects to grow the fastest over the next decade. These include health care and social assistance (28.7%), construction (31.8%), retail trade (29.1%) and leisure and hospitality (23.9%), among others
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