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Employment Grows Among Foreign-Born Workers In U.S. – Labor Market UpdateSubmitted by RMT Wealth Management | Tax Efficient Investment Strategies on September 23rd, 2016
As the U.S. population grows, so does the influx of foreign-born workers seeking and willing to work throughout the country. As released by the U.S. Bureau of Labor Statistics in May, there were 25.7 million foreign-born persons in the U.S. labor force in 2014, comprising 16.5% of the total national labor force.
The unemployment rate for foreign-born workers dropped to 5.6% in 2014, down from 6.9 % in 2013. Compared to native-born workers, 66 percent of foreign-born workers actively participated in the workforce, while only 62.3 of native-born workers participated.
The median weekly pay for foreign-born workers with a full time job was $664 in 2014, compared to $820 for native-born workers. Since the majority of the positions held by foreign-born workers are in the service industry, income levels tend to be less.
The influx of immigrants has also allowed U.S. companies in particular sectors to hire workers into positions that native-born workers have been reluctant to take, thus filling vacant positions and increasing productivity.
Sources: U.S. Dept. of Labor