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MNI BRIEF: Migrant Shortfall Heating Labor Market-Fed's Waller

(MNI) Washington

Federal Reserve Governor Christopher Waller Monday said a shortfall of about 1.5 million immigrants into the U.S. relative to normal is adding heat to an already hot labor market.

"We're short somewhere in the neighborhood of 1.5 million immigrant workers from where we would normally have been. There's like four million visa applications for immigrant labor to come in," Waller said at a Fed Listens event in Nashville, Tennessee, alongside Atlanta Fed president Rpahael Bostic. "The immigrant labor issue is a big deal," Waller said.

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Federal Reserve Governor Christopher Waller Monday said a shortfall of about 1.5 million immigrants into the U.S. relative to normal is adding heat to an already hot labor market.

"We're short somewhere in the neighborhood of 1.5 million immigrant workers from where we would normally have been. There's like four million visa applications for immigrant labor to come in," Waller said at a Fed Listens event in Nashville, Tennessee, alongside Atlanta Fed president Rpahael Bostic. "The immigrant labor issue is a big deal," Waller said.

Keep reading...Show less