Their short answer is probably — in the short run, anyway. The Economist notes that, far from Democrats’ claims that the Trump economy only works for the wealthy, that it’s working-class Americans who have made the biggest wage gains in the last three years. It’s no coincidence, they argue, that this comes at a time when legal and illegal immigration of primarily low-skilled workers has gone into “sustained decline” for the first time in decades.
However, the Economist also warns that this has its own risks for future growth and economic expansion. Its argument offers both sides of the immigration debate ammunition over policy, but misses one important point (via Instapundit):
In both 2018 and 2019 nominal wages rose by more than 3%, the fastest growth since before the recession a decade ago. Americans at the bottom of the labour market are doing especially well. In the past year the wages of those without a high-school diploma have risen by nearly 10%. Intriguingly, this has come as America has turned considerably less friendly to immigrants, who are assumed by many to steal jobs from natives and lower the wages of less-educated folk. The two phenomena may be connected—but only for a while. …
It appears instead that the overall decline in the foreign-born population is a result of falling numbers of low-skilled migrants. Those numbers slumped a decade ago because of the recession that began in 2007, changing demographics in Mexico and tougher border policing. More recently the number of low-skilled migrants appears to be in decline again. That is probably a consequence of policies implemented by President Donald Trump, as well as the off-putting effects of his rhetoric on foreigners.