Imagine I tell you I’ve been looking for a research assistant, but my pursuit has come up empty.I simply cannot find any applicants who have the requisite skills.
I contend there must be a “shortage” of research assistants.Imagine the many research ideas that may never be put down on paper because I don’t have the help I need.
It’s about time the government does something about it!“How much does the job pay?” you ask.“Minimum wage,” I reply.If you are like most people, you would have an amused reaction: “Of course you can’t find anyone – you’re not paying enough!”As obvious as it may seem, this point seems to be lost on those who believe the US has a “labor shortage” that can be solved only through more immigration.In unveiling its budget proposal this week, Gov.Hochul’s office echoed the “shortage” rhetoric.
New York has a shocking 470,100 “undocumented” workers — that is, illegal — and if the state loses any of them, it’ll suffer, she claims.“The potential deportation of undocumented immigrants could further exacerbate the state’s population loss and labor shortages,” the proposal notes.“Stricter immigration rules .
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will create worker shortages and put upward pressure on wages in affected sectors.”If President Trump’s mass deportation plan comes to fruition, would it really leave New York without the workers its economy needs? No.In reality, shortages should not exist in a market system where the price is allowed to rise.Just as the price of consumer products such as gasoline will rise as demand increases or supply diminishes, so too should the price of labor.When employers instead complain of a shortage, what they really mean is that they cannot find anyone to work at the low wages they are offering.
They want more immigrants to increase the supply of labor and keep the market wage from rising.At that, they have often been successful.Even in the supposedly high-demand STEM field, real (infl...