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Unsurprisingly, vast majority of top academic economists surveyed in IGM Panel say ban on visas for skilled workers, including researchers, will weaken US leadership in STEM and R&D, and attract fewer top foreign students to US igmchicago.org/surveys/new-vi…
Economists also overwhelmingly predict that increased restrictions on visas for skilled workers, if permanent, will result in noticeable share of research activities by US and foreign companies moving abroad.
more detailed analysis from @Austan_Goolsbee
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Catherine Rampell
@crampell
20.5 million jobs were lost in April. That wipes out all the net job gains since early 2011.
increase in unemployment rate, by 10.3 percentage points to 14.7 percent, is both the highest rate and the largest over-the-month increase in the history of the series (seasonally adjusted data are available back to
January 1948).
unemployment rate for almost every demographic group -- adult men, adult women, teens, whites, Asians, Hispanics -- is at a record high. Only group that isn't at record high is blacks, but they're still at 16.7% unemployment. Unemployment was higher for blacks in early '80s
Read 11 tweets
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Catherine Rampell
@crampell
Immigrants account for 18.2% of healthcare workers and 23.5% of formal and nonformal long-term care sector workers.
27.5% of direct care workers and 30.3% of nursing home housekeeping and maintenance workers are immigrants healthaffairs.org/doi/full/10.13…
29,000 of these health workers are DACA recipients, like the emergency physician profiled in this piece. Trump has already tried to stop her, and other Dreamers, from working. They're awaiting a SCOTUS decision about whether he ended DACA lawfully
washingtonpost.com/opinions/the-d…
Additionally, another estimated 11,600 healthcare workers today are TPS holders. Long before the tweet above, Trump began working to end their status as well, which would prevent these immigrant health professionals from legally working too. americanprogress.org/issues/immigra…
Read 5 tweets
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Catherine Rampell
@crampell
If you listen to Trump, Kudlow or other WH aides, you might think we have to choose between what's optimal for public health and what's optimal for the economy. Save lives, or maximize GDP. But if you listen to actual economists, you'll learn this is a false choice. /1
IGM Panel Survey of top economic experts shows that vast majority believe that "reopening" the economy prematurely, as Trump has agitated to do, will cause *greater* economic damage in long-run. igmchicago.org/surveys/policy… /2
Work from Martin Eichenbaum, Sergio Rebelo & Mathias Trabandt finds that not shuttering businesses would be much costlier to society than allowing them to stay open, once both economic and human costs are factored in insight.kellogg.northwestern.edu/article/econom… /3
Read 8 tweets

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