Global migration can be a potent tool in the fight to end poverty across the world：World Bank report
Original, GPIG, 06-16-2018
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Global migration has boosted economic growth and has lifted millions out of poverty, a new World Bank report says.
Titled “Moving for Prosperity: Global Migration and Labor Markets,”the June 14 report suggests that potential destination countries risk losing out in a global competition for talent, leaving large gaps in their labor markets, by failing to implement policies that address labor market forces and manage short-term economic tensions.
According to the report, large and persistent differences in wages across the globe are the main drivers of economic migration from low to high-income countries. The World Bank claims that migrants often triple their wages after moving to a new country. This way, millions of migrants and their relatives are able to escape poverty. It added that destination countries benefit as migrants fill critical roles, from advancing the technological frontier in Silicon Valley to building skyscrapers in the Middle East.
The report suggests despite the lure of higher wages, rates of migrants as a share of the global population have remained mostly unchanged for more than five decades. Between 1960 and 2015, migrants have fluctuated at narrowly 2.5 to 3.5 percent of the world 's population.
Highlights of key findings from the report include:
• Migration flows are highly concentrated by location and occupation. Currently, the top 10 destination countries account for 60 percent of around 250 million international migrants in the world.
• Surprisingly, concentration levels increase with skill levels. The United States, the United Kingdom, Canada and Australia are home to almost two-thirds of migrants with tertiary education. At the very peak of talent, an astonishing 85 percent of all immigrant Nobel Science Prize winners are in the United States.
• Education levels of women are rapidly increasing, especially in developing countries, but opportunities for career growth remain limited. As a result, college educated women from low and middle-income countries are the fastest growing group among immigrants to high-income countries.
The report also recommends various policy measures to ensure the benefits of migration are shared by host and immigrant communities for generations to come. Key among them:
• Effective migration policies must work with rather than against labor market forces. For example, where there is large unmet demand for seasonal work, temporary migration programs, like those in Canada or Australia, could address labor market shortages while discouraging permanent undocumented migration.
• Quotas should be replaced with market based mechanisms to manage migration flows. Such tools can pay for the cost of government assistance to support dislocated workers. In addition, the most pressing needs of the labor market can be met by matching migrant workers with employers that need them the most.
• Creating a pathway to permanent residency for migrants with higher-skills and permanent jobs creates incentives for them to fully integrate in the labor markets and make economic and social contributions to the destination country.
Original, GPIG, 06-16-2018
Download
pdf
Global migration has boosted economic growth and has lifted millions out of poverty, a new World Bank report says.
Titled “Moving for Prosperity: Global Migration and Labor Markets,”the June 14 report suggests that potential destination countries risk losing out in a global competition for talent, leaving large gaps in their labor markets, by failing to implement policies that address labor market forces and manage short-term economic tensions.
According to the report, large and persistent differences in wages across the globe are the main drivers of economic migration from low to high-income countries. The World Bank claims that migrants often triple their wages after moving to a new country. This way, millions of migrants and their relatives are able to escape poverty. It added that destination countries benefit as migrants fill critical roles, from advancing the technological frontier in Silicon Valley to building skyscrapers in the Middle East.
The report suggests despite the lure of higher wages, rates of migrants as a share of the global population have remained mostly unchanged for more than five decades. Between 1960 and 2015, migrants have fluctuated at narrowly 2.5 to 3.5 percent of the world 's population.
Highlights of key findings from the report include:
• Migration flows are highly concentrated by location and occupation. Currently, the top 10 destination countries account for 60 percent of around 250 million international migrants in the world.
• Surprisingly, concentration levels increase with skill levels. The United States, the United Kingdom, Canada and Australia are home to almost two-thirds of migrants with tertiary education. At the very peak of talent, an astonishing 85 percent of all immigrant Nobel Science Prize winners are in the United States.
• Education levels of women are rapidly increasing, especially in developing countries, but opportunities for career growth remain limited. As a result, college educated women from low and middle-income countries are the fastest growing group among immigrants to high-income countries.
The report also recommends various policy measures to ensure the benefits of migration are shared by host and immigrant communities for generations to come. Key among them:
• Effective migration policies must work with rather than against labor market forces. For example, where there is large unmet demand for seasonal work, temporary migration programs, like those in Canada or Australia, could address labor market shortages while discouraging permanent undocumented migration.
• Quotas should be replaced with market based mechanisms to manage migration flows. Such tools can pay for the cost of government assistance to support dislocated workers. In addition, the most pressing needs of the labor market can be met by matching migrant workers with employers that need them the most.
• Creating a pathway to permanent residency for migrants with higher-skills and permanent jobs creates incentives for them to fully integrate in the labor markets and make economic and social contributions to the destination country.
