Can Immigrants Pull U.S. Out of Deficit?

Posted by Audrey Dubois-Boutet on March 29, 2010

Did you know- Over 50 percent of labor force growth that has occurred in the last decade is due to immigrants working in the U.S.?

Immigration has been a controversial topic amongst Americans since before our country was formed. Though previous immigration discussions have resulted in heated debates, Congress finally seems ready to take on these immigration issues.

If we take a look at the U.S. economic history over the last decade, we will find that immigrant workers are pertinent to the revival of the US economy, especially on the entrepreneurial frontier.

Immigrants appear to hold a great portion of the country’s highest rates of entrepreneurship. They build new businesses from the ground up – starting as street-level vendors and evolving into well known businesses.
Large US firms, such as Citigroup, Alcoa, Liberty Mutual, and PepsiCo are increasingly led by executives with roots in foreign countries. Many large U.S. corporations such as Yahoo, AST Research and Sun Microsystems were even founded by immigrants.

In Los Angeles, the self-employment rate of immigrant workers is more than 10 percent— nearly doubling the rate for native-born citizens. This entrepreneurial spirit has benefited the Los Angeles area where the number of legal Latino establishments has increased to nearly three times the national average. By the end of 2010, it is expected that immigrants will be responsible for more than $2.5 trillion dollars of business in the U.S.

History shows us that by embracing diversity, our economy can strengthen and grow with its dominant immigrant population.

Read more about how the U.S. benefits from its immigrant population and let us know what you think.