MA’s Joel Prakken Quoted by CNBC

MA’s Joel Prakken was quoted in the article, “This is what immigration means to the US economy in two charts” by Patti Domm with CNBC. (Excerpts shown below) Immigrants are responsible for nearly half the population growth of the United States, and by extension that also means they are a sizable part of the growth in the U.S. labor force. Statistics provided by the U.S. Census Bureau on assumptions about population growth and immigration are rolled into economists’ forecasts for GDP. The economy is expected to grow at about 2 percent, and “what’s behind that projection is the assumption of labor force growth and productivity growth … that is a combination of assumptions about the participation rate and the growth of the population. Our assumptions of the population come from the Census Bureau,” said Joel Prakken, senior managing director and co-founder of Macroeconomic Advisers. Prakken said immigrants are probably a bigger … Continue Reading