Dan Celia: Low Labor Participation Means America Needs Workers
Legal Immigration Reform Will Help Add Workers to a Growing Economy
PHILADELPHIA—Recent news out of the U.K. signals a similar problem coming to the U.S.—that of a worker shortage in a growing economy.
Nationally syndicated host and biblical investing authority Dan Celia is talking about this news and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 television and radio stations nationwide.
“I’m not trying to sound any particular alarm bells about our economy, at least not just yet, but I will say that for two years I’ve been extremely concerned about our labor participation rate,” Celia said. “We were growing at a fairly frantic pace, which is great, except we don’t have the workers to fill jobs. I have written several articles and I’ve been talking for some time about the desperate need to refine our legal immigration system. We need workers, and my concern has been that there is no conceivable way that we could have strong economic growth and maintain productivity levels without workers. And yet we continue to talk about economic growth. Yes, we are poised for it, but we won’t see it without workers.
“Case in point is news coming out of London yesterday,” Celia continued. “They are seeing the lowest unemployment rate in 40 years, according to the Office of National Statistics. Contained within this deduction was the sharpest fall in the number of workers from Eastern European countries, like Poland and Hungary, since the beginning of records. And the number of EU workers—the British workforce—is down dramatically. We are seeing the U.K., along with all of the eurozone, having a similar problem as the one that is coming to America. I’ve talked and written about this for two years. We better stop focusing on growing the economy until we know we have the workforce to handle it. And it would appear as though corporate America knows that.”
Celia has also said that legal immigration must be streamlined so those people who want to be in America and assimilate into the American culture and workforce will be able to do so, and then find jobs to help support their families.
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