President Donald Trump’s deportation policy is pressuring Texas employers to raise wages, recruit sidelined Americans, and invest in productivity-boosting technology, according to the Federal Reserve Bank of Dallas.
“Texas firms are taking measures to address [Trump’s] impact … [by offering] planned wage and benefit increases and more hiring of U.S.-born workers, naturalized citizens or legal permanent residents,” said an October 17 bank report by pro-migration economists.
Almost half of the surveyed companies said they hope to extend overtime for their employees, a third said they plan to offer increased wages and benefits and to hire more Americans, and one-quarter said they plan to invest in more technology.
Just 13 percent said they plan to scale back operations, and just three percent said they would move work outside the United States.
“The state unemployment rate is low, at 4.1 percent, job postings are holding steady, and wage growth remains healthy,” the Dallas report said.
The good news for American families matches Trump’s emerging plans to grow the economy via productivity and automation, instead of via the post-1990 policy of Extraction Migration as favored by many investors.
Source:
Diem ‘Richard’ Nguyen
Liên Minh Bảo Hiến Mỹ Gốc Việt
Vietnamese American Conservative Alliance (VACA)
https://freedom-vaca.org/vaca-blog-tieng-viet-nam/