Population Perspective

Since 2020, the employed foreign-born population of the U.S. has increased by 9.9%. It took until 21Q4 for this population to return to where it was pre-Covid. As for the native-born population, it is now 0.7% higher than it was pre-Covid, and it took until 22Q3 before it fully returned to its pre-Covid level. Immigration is critical to labor force growth.