Earlier in 2024, the Congressional Budget Office (CBO) predicted that over the next ten years, immigration will increase the U.S. economy by $7 trillion. This increase is due partly because more people will join the workforce, leading to higher spending by consumers. The CBO’s calculations are based on the 2024 surge in U.S. immigration.

The CBO used data from U.S. Customs and Border Patrol to estimate U.S. immigration numbers, This includes individuals entering with or without visas. The recent rise in immigration is partly due to increased arrivals at the southern border, but also due to the processing of backlogged cases. Currently, about one in five U.S. workers are immigrants, the highest level in nearly twenty years. This increase is helping the economy recover after the pandemic, according to economists and policymakers.

As of May 2024, there are an estimated 8.1 million job openings in the U.S., according to the Bureau of Labor Statistics. Foreign-born workers accounted for 19% of the workforce in February 2024. Without them, there would likely be many more job openings, hurting the overall U.S. economy. In the last fiscal year, the U.S. approved a record number of work permits for foreign-born individuals.

If you have questions about an employment-based visa or any other U.S. immigration-related issue, contact us. Our team of experienced professionals works directly with our clients every step of the way throughout their immigration journeys.