Global Migration Trends Plunge As COVID Crushes Worldwide Travel To A Halt

Global Migration Trends Plunge As COVID Crushes Worldwide Travel To A Halt

Tyler Durden

Wed, 10/21/2020 – 04:15

Migration trends have hit a wall in 2020 as a result of the coronavirus pandemic – resulting in what will be even more pressure to the global economic outlook.

New visa issuances by the 37 members of the Organization for Economic Co-operation and Development (OECD) were down 46% in the first half of 2020. The organization warned that continued restrictions on travel means that it could be “some time” before trends return back to normal.

Migration has a direct impact on the transport, domestic services and IT industries, Bloomberg notes. Migrants also make up 24% of medical doctors and 16% of nurses, the article says.

OECD Secretary General Angel Gurria said: “Migration will continue to play an important role for economic growth and innovation, as well as in responding to rapidly changing labor markets. We need to avoid rolling back on integration and reaffirm that migration is an integral part of our lives.”

Immigrants have also been disproportionately affected by job losses resulting from the pandemic. Immigrant unemployment has moved from 1% below native workers to now 2% above native workers in the U.S. In Canada, Norway and Sweden, similar trends are showing up.

The OECD concludes that migrants also have increased chance of health risks, since many work on the “front line”.

It also concludes that the progress many nations have made in welcoming migrants could wind up being undone as a result of the global economic slowdown. 

via ZeroHedge News Tyler Durden

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