The European Union’s economy would have appeared much weaker after the pandemic without the contribution of immigrants, European Central Bank President Christine Lagarde said on Saturday, warning policymakers not to ignore the role of immigration. Speaking at the annual US Federal Bank Symposium in Wyoming, Lagarde stressed that the influx of foreign labor has helped the eurozone to absorb successive shocks-such as efficient energy costs and inflation-and-recovery. According to her, EU employment increased by 4.1% from late 2021 to mid -2025, almost as much as GDP. “Although foreign workers in 2022 accounted for about 9% of the total workforce, they are responsible for 50% of its increase in the last three years,” he said. Without this contribution, he added, ‘the labor market would be more pressured and […]
Source: News Beast
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