Bessent Says 1 Million Deportation-Linked Exits Lift Wages and Cut Rents
Updated
Updated · rockymountainvoice.com · Aug 18
Bessent Says 1 Million Deportation-Linked Exits Lift Wages and Cut Rents
3 articles · Updated · rockymountainvoice.com · Aug 18
Summary
Scott Bessent said more than 1 million undocumented immigrants have left the workforce, arguing the shift is already improving Americans’ economic conditions through higher working-class wages and lower rent pressure.
More than 2 million jobs have been created for Americans, Bessent said, while construction and manufacturing hiring picked up and the unemployment rate fell as the core 25-to-54 workforce stayed stable.
Bessent framed the changes as a supply-and-demand effect: fewer workers competing for jobs can lift pay, and fewer people competing for housing can ease rents.
The commentary also argued deportations alone will not solve the broader affordability crisis, saying underlying cost pressures predate the recent surge in illegal immigration.