New immigration estimates help make sense of the pace of employment – Brookings
“Recent immigration flows are notably higher than previous projections. New numbers from the Congressional Budget Office suggest that 3.3 million net immigrants arrived in 2023 compared to the 1.0 million projected prior to the pandemic.
“Higher immigration rates mean that employment growth does not need to slow significantly to get the labor market to a sustainable pace: The authors estimate that the labor market in 2023 could accommodate employment growth of 160,000 to 230,000—versus previous projections of 60,000 to 130,000—without adding pressure to wages and price inflation.”