The federal reserve bank of San Francisco has released a report estimating that 3.8 million illegal migrants will have entered the US by the end of Fiscal Yar 2024 on September 30.
The massive numbers are providing downward pressure on the wages of American workers. Report author Evgeniya A. Duzhak carefully noted that “immigrants joining the workforce are likely to have modestly eased labor market tightness.” [Emphasis added.]
Earlier this year, the International Monetary Fund’s managing director, Kristalina Georgieva, also put it all too mildly when she said that “abundant labor coming across the border” means “wages are not pushing up.”
In a transparent ploy to tamp down illegal entry in an election year, last month Biden issued an executive order that allows officials to reject asylum applications by individuals but only when applications exceed 2,500 on any given day. That permits about one million to enter in any year without fear of deportation. [Emphases added.]
For more, see the NY Post.