And at present, it looks as though labor shortages would feel severe (and hence the upward pressure on wages and prices would be more intense) if it were not for a sharp increase in the number of foreign-born workers looking for a job.
If immigrant labor in the US is displacing anyone, it appears to be primarily older workers.
Experience in the UK, where migration has been hit hard by the exit from the European Union, is discouraging, with a growing number of companies complaining of labor shortages.
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