The Economy’s Biggest Winners & Losers from Immigration
CPA firms with clients in coastal and southern border states may be most vulnerable to loss of immigrant economic activity.
By CPA Trendlines Research
If there’s ever any massive curtailment of immigration into the United States, CPA firms in states along ocean coasts and in major metro markets may be the most vulnerable to losing prospective clients and future job candidates.
A new study of demographic trends nationwide finds that immigrants play an especially key role in economic growth on both coasts with California, New Jersey, Florida, New York and Hawaii, ranking as the states with highest percentages of jobs created by immigrant-owned businesses.
The study, conducted by the personal finance advisory web site WalletHub , further finds that California, New Jersey, New York, Delaware and Massachusetts are where foreign-born people hold the greatest percentages of jobs in the fast growth technology science, technology and engineering fields.
Meanwhile, New Jersey, along with the District of Columbia and its neighbors Virginia and Maryland, are where households headed by immigrants have the highest incomes.
