Opinion

Why K Street is working overtime to get more immigrants --- in one chart

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Immigration reform has lots of arguments in its favor, and I am thoroughly conflicted on the issue. But the momentum behind the legislation has come predominantly from the business lobby.


FRED

That's why the above chart, from Joe Weisenthal at The Business Insider, is so important. He argues that people quitting jobs voluntarily is a sign that wages are about to climb. See how the green and redlines (wages) reliably follow the blue line (quits) up and down.

As Weisenthal describes it:

"For the first time in a long time, 4% of accommodation and food service workers quit in one month.

"Higher quits are good news. Quits mean people are feeling confident that they can get another job. Or they have a job lines up. Accommodation and food service quits, it stands to reason, are a particularly good sign, since people would only quit a fast food job for something that likely pays significantly better."

Of course, good news for the wage earner is not always good news for the wage payer. This could explain an increased urgency to increase the supply of labor.

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