The US added 272,000 jobs in May, a higher figure than projected. The Hamilton Project Director and Brookings Institution Senior Fellow in Economic Studies Wendy Edelberg joins Morning Brief to discuss the impact of immigration on the jobs market.
We wanna bring in Wendy Edelberg and be a Hamilton project director in Brookings Institution, senior Fellow in Economic studies Wendy.So first, let's just take a step back and I think if you could lay out for us, just the impact that immigrants are having on the US workforce right now.So it to, to understand today's labor market you have to understand what's happening with immigration.So think about it this way before the pandemic.
And what that means is that today's number is still super strong, but it's not like wildly off the charts, unprecedentedly strong.Once you understand what's been happening to Labor Supply and Wendy, we got an executive order this week on immigration.
What we're going to be seeing in the labor market over the next month, over the next four or five months is very much determined by what's been happening to immigration since 2022.So even if the executive order is implemented exactly as written over the next handful of months, we're not going to see a big effect on the aggregate US economy.
If you try to understand it, without understanding the surge in immigration, you're gonna look at that labor market and say it is wildly hot and monetary policy has a lot more to do to get the labor market on stable footing, to make sure inflation comes back down to its target.The other point of comparison that I think you more have in mind is what the economy would have looked like without an immigration surge.
But as it relates to the States and small businesses specifically that are looking for labor, right now and, and are saying that there are shortages right now in labor, what states could actually benefit most from immigration as that is an input into the labor situation.
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