INTERNATIONAL MIGRATION: TRENDS AND ECONOMIC BENEFITS

Harjit K. Arora
Le Moyne College, New York
ABSTRACT
This study investigates trends in world migration and the contributions of immigrants to
the economic growth in the U.S. Innovations by skilled workforce lead to higher productivity that
contribute to economic growth and raise standard of living for all citizens. The U.S. is and will be
facing shortages of skilled workforce as the baby boomers retire. Immigration helps to relieve
short-term labor shortages in the receiving country and increase long-term economic growth if
migrant possess the skills needed by the employers. Countries that promote free migration of labor
are far richer than the countries that restrict labor migration because immigrants with different
skills than the native-born workers diversify the workforce and increase productivity and output.
For many migrant sending countries, remittances provide a significant source of foreign reserves
and financial support to their families. Current immigration policies need to be modified if the
U.S. wants to keep its standard of living high and also, fund health care and social security
programs for its aging boomer population.