The Trump administration’s hardline immigration policy is slowing down both population and job growth in the U.S.
An analysis from the Federal Reserve earlier this year found that an immigration slowdown had heavily weighed on labor growth, resulting in the breakeven rate, the monthly jobs gain needed to keep unemployment at bay, dropping close to zero.
“Importantly, this analysis does not conclude that the current labor market is on solid footing, rather just that low population growth and near-zero employment growth are not by themselves necessarily indicative of weakness,” the Fed economists wrote.
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