Immigration is Key to Combating Inflation
The United States is currently grappling with multiple economic challenges in the form of inflation, a labor shortage, and supply chain disruptions.
These issues have resulted in higher prices for consumers, businesses that are struggling to fill vacancies and adequately provide their services, and empty shelves at stores along with delays in deliveries.
Nearly every person and business have been affected by these issues, so the government wants to fix these problems. But what would work?
Opening up the country to more immigrants would be an efficient way to address all these areas with the result likely being a reduction in inflation. While increased immigration might not solve all the problems, it is likely the quickest way to address these ongoing challenges.
The federal government recognizes this, with the U.S. Chamber of Commerce seeking to ease inflation and the worker shortage by doubling the number of legal immigrants entering the country, according to a recent CNN article. [1]
Easing the Labor Shortage
As the U.S. attempts to manage its economy through the ongoing challenges of the two-year-old pandemic, a clear labor shortage has emerged. Between issues with health and safety in a pandemic, child care, the demand for better wages, and others, businesses in America are struggling to fill out the vacancies in their workforce.
Opening the country to more immigrants would go a long way to easing the labor shortage. An increase in the population through immigration alone would provide more people to fill jobs, and immigrants coming to America would be ideal candidates to fill job vacancies as they look to settle themselves and their families in the country.
U.S. Chamber of Commerce CEO Suzanne Clark recognized this when she said during a press conference, “We need more workers. We should welcome people who want to come here, go to school, and stay.” [1]
Improve the Supply Chain
The supply chain disruptions the U.S. is currently experiencing go hand-in-hand with the worker shortage. Goods cannot be delivered efficiently when there aren’t enough people to get the products where they need to be or put them on the shelves.
Addressing the worker shortage through immigration would also go a long way toward improving the supply chain issues. Immigrants would fill vacancies in areas that significantly affect the supply chain, such as truck drivers and other delivery services, along with grocery and retail stores.
Combating Inflation
Increasing the number of immigrants allowed into the U.S. would help address the worker shortage and improve the supply chain, resulting in an easing of the current record inflation the country is experiencing. Inflation would decrease if the labor and supply chain conditions improve.
Thus, increasing immigration not only can help combat inflation, but it likely would do so quicker than any other intervention, because nothing can address a labor shortage and supply chain problems faster than putting people in those roles.
Clark noted this by stating, “If we can alleviate the worker shortage, it might be the fastest thing to do to impact inflation.” [1]
How Visa Business Plans Can Help
At Visa Business Plans, we want to do our part to help the U.S. emerge from these challenging times and conditions. We help foreign nationals by providing a suite of services that range from helping investors identify businesses, executive coaching services, to sound and solid business plans for immigration, loans, and investment purposes. Our ultimate goal is to help business owners succeed and immigrants achieve their dreams of legally living and working in the U.S.
If you are looking to bring your career and dreams to the United States, call Visa Business Plans to see how we can help you make it happen.
[1] https://www.cnn.com/2022/01/11/economy/chamber-of-commerce-inflation/index.html
The information provided in this blog is intended solely for informational purposes. While we strive to offer accurate and up-to-date content, it should not be considered legal advice. Immigration laws and regulations are subject to change, and individual circumstances can vary widely. For personalized guidance and legal advice regarding your specific immigration situation, we strongly recommend consulting with a qualified immigration attorney who can provide you with tailored assistance and ensure compliance with current laws and regulations.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in four different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
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