The increase of migrant workers during the last two years cooled an overheated labor market and slowed wage growth across industries and states, according to an analysis of government statistics.
“The influx of immigrant workers appears to have helped alleviate the severe staffing shortages in certain industries that were pervasive during the pandemic’s volatile period,” Elior Cohen, an economist with the Federal Reserve Bank of Kansas City, wrote in the organization’s Economic Bulletin. It serves Colorado, Kansas, western Missouri, Nebraska, northern New Mexico, Oklahoma and Wyoming.
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