💸💪🏾Moneda Moves (29): Immigrants, they get the job done 💰
✓Viernes, we meet again! This week marked the top of June and start to Immigrant Heritage Month.
ICYMI: Dreamers and TPS beneficiaries rang the Opening Bell at Nasdaq this Wednesday, just one day after the House passed a bill that would grant them permanent residency. And if you haven't heard just yet, here's just a few stats that show how fundamental immigrants are to the American economy:
Immigrants founded nearly half 2018's Fortune 500 companies
More than half of US startup companies valued at one billion dollars or more were started by immigrants
🔔Bell ceremony attendees were also in New York City to talk with business leaders about how immigrants are helping create the future of the United States and grappling with current immigration laws. Among the companies and organizations helping lead these efforts were: Microsoft, Facebook, IBM, National Immigration Forum, FWD.us and US Chamber of Commerce.
In an interview with Cheddar, Jorge Lima, senior vice president of immigration at Stand Together stressed the importance of not only speaking with tech companies, but also those in charge of agriculture and
manifacturing. "It doesn't just end at business. We have to reach out to communities -- we're talking to neighborhoods that really want that welcoming community. They understand the contributions that immigrants make not just to the economy, but also culture and other parts of American life."
And while there may be a substantial amount of noise around immigrant contributions to the American economy as well as reform, there are plenty of concerns around the most recent immigration plan and bill named the American Dream and Promise Act.
This week, we're bringing you a few updates and economic critiques and reviews of the plan. 📅Next week, we will be back with regularly programmed coverage highlighting entrepreneurs (Potentes and Monedita), especially those who are Latinx immigrants. No te olvides, we are also on Twitter and Instagram serving up latest updates.
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinx and money.
House-passed "Dreamer" bill, explained🗳: On Tuesday, the House passed a bill that has also been called the American Dream and Promise Act, which would allow Dreamers legal residence status for 10 years and enable them to become permanent residents after completion of college, military service or spending some time in the workforce. The legislation however was not expected to move forward in the Senate, which is Republican-controlled. The story is written by NBC Latino's Suzanne Gamboa.
The gaps in Trump's new immigration plan💸: Just this March, there were 2.1 million open positions for low skilled workers in March, but only 1.2 million people without college degrees looking for work. While the White House's newest plan emphasizes high-skilled immigrants and the value they bring to the American economy, this figure shows that low-skilled immigrants could actually contribute more to the economy than discussed. The piece comes from Alexia Fernández Campbell at Vox. She posits that the U.S. actually has a labor shortage across industries with lack of people to fill as restaurant cooks, construction workers and hotel housekeepers and that the hardest to fill jobs are no longer positions for computer engineers.
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