While elected officials in New York blame immigrants and asylum seekers for budget cuts and economically-strained communities, the facts continue to show that immigrants, including asylum seekers, actually strengthen New York’s economy. From filling open jobs to paying billions in taxes to bringing in billions of dollars in income, immigrants are making enormous contributions to New York’s economy.
Here are the key facts:
#1: Immigrants Strengthen New York’s Economy By Working at a Higher Rate Than the U.S.-Born Counterparts
- While immigrants account for more than 20 percent of the state’s total population, they make up more than one-quarter of its workforce.
- Immigrants are more likely to be active in the labor force than their U.S.-born counterparts.
- An estimated 91 percent of refugees in New York are employed.
- An estimated 92 percent of TPs holders in New York are employed.
#2: Immigrants Strengthen New York’s Economy by Filling Jobs in Key Industries.
- In New York, immigrants make up more than 50 percent of home health aides and over 25 percent of nurses.
- Immigrants make up 27 percent of all STEM workers in New York, a crucial growing industry.
- Immigrants play a major role in expanding New York’s economy through entrepreneurship.
- Over 30 percent of entrepreneurs in New York are immigrants, resulting in seven billion dollars in business income.
- Entrepreneurs who are refugees net over $260 million in business income.
#3: Immigrants Strengthen New York’s Economy by Paying More Than $61 Billion in Taxes.
- Immigrants not only play a major role in the workforce – in 2021, immigrants paid over $61 billion in taxes that help fund social services and programs like Medicare and Social Security.
- Research shows that their “economic contributions far outweigh the cost of additional public services they incur.”
- In 2021, refugees paid over two billion dollars in taxes.
- In 2021, TPS holders paid more than 268 million dollars in taxes.
- In 2021, undocumented immigrants paid three billion dollars in taxes.
- In 2021, DACA recipients paid more than two billion dollars in taxes.
#4: Immigrants Strengthen New York’s Economy by Harnessing Over 138 Billion in Spending Power.
- Immigrants in New York have a spending power of over $138 billion.
- TPS holders provide more than $1.0 billion in household income and have a spending power of more than $743 million.
- Refugees in New York stimulate the economy with $4.5 billion in spending power.
- Undocumented immigrants hold more than $17 billion in spending power.
| BOTTOM LINE: Immigrants play a crucial role in strengthening New York’s economy, and with 18,000 jobs open across New York state, our elected officials should focus on expanding work authorizations and making it easier for folks who come here to work and contribute to our communities. |
