Opinion

One reason for the surprise jobs boom? Immigrants are back.

In May, once again, the U.S. economy trounced Wall Street forecasts. The nation’s employers added 339,000 jobs, much higher than predicted. This marks 13 out of the past 14 months that the U.S. job market has beaten expectations.

In fact, many economists have been warning of not just a slowdown but an imminent recession for about a year now. Yet nothing about this job market suggests recession. Why has the economy overperformed? Or, to put it another way, why has the economy been so consistently underestimated?