Immigration Crackdown Fit Make California Economy Lose $278B

One new study from Bay Area Economic Institute and UC Merced dey warn say immigration crackdown fit cut $278 billion from California wey get $4 trillion economy. About one in five of di 10.6 million people wey born for different country inside di state no get legal status. Important sectors like agriculture, construction and hospitality dey depend heavy on immigrant workers. Farmworkers be 63% of di agricultural workforce, and 24% of dem no get correct documents. Over 60% of construction workers born for outside. Di report talk say without immigrant labor, California’s $49 billion agriculture industry, construction projects and hospitality services go face bad shortages. White House people talk say domestic labor market fit fill dem jobs, them dey give priority to US citizens. Industry leaders talk say skill gap and limited automation make immigrant labor very important. Di analysis show say immigration crackdown fit disturb food production, slow construction and reduce tourism capacity, wey fit cause higher costs and slow growth for di whole state.
Neutral
Dis report wey talk about California economy and immigration crackdown no mean crypto currency or blockchain technology. Even if macroeconomic changes fit affect how investors feel, di possible GDP loss and labor shortage for farming and building sectors no too go affect crypto trading volumes or prices immediately. Traders de usually react to things like crypto market regulation changes, global financial stability, or tech sector development. Since dis immigration policy mainly affect local labor market and state GDP without changing crypto regulations or monetary policy, e impact on cryptocurrency market sentiment and valuation suppose remain neutral both short term and long term.