00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Donald Trump's strict immigration policies have reduced the U.S. labor force
00:06by over 1.2 million immigrants between January and July,
00:11according to preliminary Census Bureau data analyzed by the Pew Research Center.
00:16Immigrants make up nearly 20% of the workforce, including 45% in farming, fishing, and forestry,
00:2330% in construction, and 24% in services, AP News reported.
00:28The U.S. immigrant population is declining for the first time since peaking in 2023,
00:34driven by departures, under-reporting, enforcement actions,
00:37and fewer illegal border crossings under Trump's policies.
00:41Experts warn the decline in immigrant workers is straining the U.S. job market,
00:46as immigrants typically drive at least half of job growth, limiting the ability to create jobs.
00:52Moody's chief economist warned that Trump's immigration policies
00:55could drive U.S. inflation from 2.5% to nearly 4% by early next year.
01:01For all things money, visit Benzinga.com.
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