The Strength of Immigrants Driving the American Economy
“Immigrants have been the lifeblood of America,” said John F. Kennedy. More than half a century later, his words remain true: the United States thrives thanks to the silent, constant, and transformative contribution of millions of immigrants who not only seek a better future, but also help build the future for everyone.
Today, immigrants make up nearly one-fifth of the civilian workforce, according to the Council on Foreign Relations, and their presence is essential in sectors such as construction, agriculture, technology, and healthcare. The Washington Post recently noted that nearly 10,000 baby boomers retire every day, and in the face of that gap, immigrants account for almost half of the labor force growth over the last decade. In other words, they don’t just fill vacancies: they sustain the productive capacity of the country at a time of demographic transition.
Their impact goes far beyond employment. The Joint Economic Committee of Congress estimated that in 2019 the purchasing power of immigrants reached $1.3 trillion, with states such as California and New York leading the way. This consumer power not only energizes local markets but also drives sustained demand in key sectors of the economy. At the same time, the American Immigration Council reported that in 2023 immigrant households contributed nearly 17% of all tax revenues in the United States—including about $90 billion from undocumented immigrants. In other words, they contribute with the same currency as everyone else: taxes that fund public infrastructure and social programs.
History also shows that immigrants are not only part of the workforce, but also a driving force of innovation and entrepreneurship. The Migration Policy Institute estimates that nearly 30% of patents in strategic sectors come from immigrant minds, and that more than 40% of Fortune 500 companies were founded by immigrants or their children. In addition, nearly one-quarter of entrepreneurs and STEM professionals in the United States are foreign-born—meaning they don’t just participate in the economy, they design the nation’s future with technology, science, and new business models.
The numbers speak for themselves: immigrants are not a cost, they are an asset. Their labor fills generational gaps, their consumption fuels demand, their taxes strengthen public coffers, and their innovation generates new opportunities for growth and employment. Recognizing this is not an act of generosity, but of economic realism. The United States does not prosper in spite of immigrants; it prospers because of them.
At Bull, we believe that acknowledging this truth is also a way to project the future with greater stability and vision. Because if the American economy continues to move forward, it is largely thanks to the strength of those who one day crossed borders with the determination to build something greater than themselves. That is, truly, the lifeblood that keeps alive the tree of American prosperity.
