Bloomberg Surveillance · Thursday, July 2, 2026
Claudia Sam noted that a decline in immigration can create labor shortages, particularly in industries that rely heavily on immigrant workers. While not seen at an aggregate level, she pointed to some industries, like construction, experiencing tensions that could be linked to this trend.
“Industries that have, you know, rely a lot on immigrant workforce that can cause labor shortages. We haven't seen that kind of at an aggregate level. I think you can point to some industries where you can see some tensions and even showing up.”
“It could be part of the contribution to you know, construction wages rising faster than overall, but there are other reasons construction wives to be rising faster. Is a lot of demand for AI build out, so it's hard to like pull it out in the aggregate statistics, but I think there are hints of it in the industry level.”