With incoming US president Donald Trump’s immigration-policy reforms likely to affect state economies, a study by WalletHub finds that California, New Jersey and New York are in line to be impacted most deeply.
The personal finance website has analysed each of the 50 US states and the District of Columbia to determine which benefit most from immigration. The assessment ranges across 18 key metrics, ranging from “median household income of foreign-born population” to “jobs generated by immigrant-owned businesses as a share of total jobs.”
The study suggests the 10 US states with economies that benefit most from immigration are:
- New Jersey
- New York
- District of Columbia
The 10 states where immigrants have the smallest economic impact are: Montana, Alabama, Arkansas, Tennessee, Oklahoma, Wyoming, Louisiana, South Dakota, Kentucky and in 51st position Mississippi.
Among the study’s other findings:
- California has the highest share of the workforce who are foreign-born at 34.12%, while West Virginia has the lowest at 1.88%.
- Maryland has the highest median household income for the foreign-born population at US$71,081, while New Mexico has the lowest at US$32,489.
- New Mexico has the highest home ownership rate for the foreign-born population (62.8%), with North Dakota the lowest (31.8%).
- California has the highest share of foreign-born residents (27.04%) and West Virginia has the lowest (1.53%).
- New Jersey has the highest share of foreign-born science, technology, engineering and mathematics (STEM) workers (41.0%) and North Dakota the lowest (2.1%).
- The District of Columbia has the highest share of foreign-born adults aged 25 and older with a bachelor’s degree or higher (51.5%), while New Mexico has the lowest (16.4%).
- The District of Columbia has the highest share of direct and indirect jobs created by the economic contributions of international students (1.37%), with Alaska the lowest at (0.03%).
Leaked documents from the UK Home Office proposing that low-skilled EU migrants would be restricted in the UK’s post-Brexit immigration scheme may be more likely to increase automation and off-shoring of labour, rather than increase British wages, industry experts have warned.
The dollar failed to recover against other major currencies on Monday following Friday’s disappointing US employment data announcement. This was coupled with ... read more
India's gross domestic product (GDP) growth failed to meet expectations in Q2 as it slumped to 5.7%. However, India's IT industry is thriving. It contributes roughly 10% to the country's GDP and makes up about 25% of exports.
From music festivals to motor racing, events and festivals are an integral part of the move to a cashless society, reports SIX Payment Services.