From 2021 to 2024, the U.S. saw a record surge in immigration, much of it from people crossing the southern border without visas. Many were released into the country to seek asylum or given temporary protection, and millions entered the labor force. 

By mid-2024, tougher policies and more deportations slowed the inflow sharply. Economists say fewer immigrants could mean slower population and job growth, which may weigh on the broader economy. 

Studies show immigration tends to boost economic output while having little effect on inflation. Looking ahead, stricter policies could further reduce growth if fewer workers are available, especially if mass deportations are carried out.

Finsum: For now, the lasting impact will depend on whether immigration levels stabilize or continue to decline.