Trending on Twitter today is the hashtag #DayWithoutImmigrants. This movement asked foreign-born people nationwide, regardless of legal status, not to go to work or go shopping in a demonstration of the importance of their labor and consumer spending to the United States’ economy.
Without people immigrating to the United States, the world would be a far different place. The U.S. labor market would be 17 percent smaller and we would have 26.3 million less people in our workforce. Silicon Valley would be 37 percent smaller with half of the millennial population gone from the area. We would not have 25 percent of the businesses started in the U.S. There would be no Apple, no Google, no Intel – the list goes on.
Today, we celebrate immigrants and all of the significant and important contributions made to the United States, highlighted among these key statistics:
- Immigrants or their children started 40 percent of Forbes 500 companies, according to the Stanford Immigration Policy Lab.
- Immigrants start more than 25 percent of businesses in the United States, and more than 20 percent of the Inc. 500 CEOs are immigrants.
- About 58 percent of the engineers and other high-skill employees in Silicon Valley were born outside the U.S., according to the Silicon Valley Leadership Group; 37 percent of Silicon Valley residents and 50 percent of millennials in Silicon Valley are foreign born.
- According to a March 2016 study by the National Foundation for American Policy (NFAP), half of the billion-dollar startups in the United States were founded by immigrants and those immigrant founders created an average of 760 jobs per company in the United States, and the value of those companies is $168 billion.
- 26 million foreign nationals in the American labor market added $2 trillion to the American economy last year, according to the National Academies report.
- Immigrants made up about 47 percent of the nation’s workforce expansion from 2004 through 2014, according to the Organization for Economic Cooperation and Development.
- Foreign-born households contributed $106.9 billion in income tax revenue in 2012, according to a George Mason University Institute for Immigration Research study.
- According to Envoy’s Immigration Trends 2017, 55% of employers plan to increase their foreign national headcount and 77% of employers say hiring foreign nationals for their open roles is very to extremely important in in their ability to filling their skills gap.
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