Friday, October 27, 2006
The economic effects of large scale immigration
Tens of thousands of Britons have been forced out of work because of the arrival of a wave of migrant workers from Eastern Europe, experts warn. Authoritative new research suggests almost 100,000 people have become unemployed as a result - though even that may be a significant underestimate......... Wage growth is being held down because more people are looking for jobs, meaning employers do not have to be so generous to their recruits. That is good news for borrowers because it allows interest rates to be kept relatively low. But on the other hand, "wage earners may feel that migration makes them worse off" because their salaries appear to be static, the report said.