Is it a welcome slowdown to improve worker bargaining power and wages? It is hurting corporate profits though…
Only superficially does it increase wages. Studies show that immigration counter-intuitively improves the wages of the lower class, mainly through 2 effects: 1. Immigrants spend money. "A rising tide floats all boats". 2. Immigrants take the entry level positions. So in a country without immigrants a high school dropout might become a janitor. But with immigrants the immigrant becomes the janitor and the high school…
“Don’t worry that your wages are lower, the white collar workers in NYC/SF are making even more, so our average wages have actually increased!”