Kristalina Georgieva managing director of the International Monetary Fund (IMF) has acknowledged that the influx of “abundant labor coming across the border” is reducing the wages paid to American workers. Her comments made in April highlight the economic consequences of the ongoing migration crisis under the Biden administration.
Since taking office in 2021 President Joe Biden’s policies have led to the import of roughly ten million legal illegal and quasi-legal migrants. This massive inflow of workers has not only suppressed wages but has also contributed to inflation in various sectors of the economy.
The IMF, IEA, Adam Smith Institute and most large employers love mass immigration because immigrants are easy to exploit and they are used to undermine the wages of the existing work force and nothing to do with helping people to improve their lives. It's all about exploitation. https://t.co/rk1Lofbj67
— norman candy (@normanbluecoll1) June 13, 2023
The Economist magazine admitted that “Across the G10 [group of wealthy countries] … there is no doubt immigrants need things as soon as they arrive boosting demand [for used autos food etc.].” The magazine noted that this increased demand is particularly evident in the rental housing market which is in short supply across the anglosphere.
The acknowledgment by the IMF’s managing director that abundant labor from migration is reducing wages for Americans underscores the need for a more balanced approach to immigration policy. Critics argue that the current administration’s policies prioritize the interests of investors and progressives at the expense of American workers and their families.
