Immigrants in the Construction Industry
Last Updated on April 3, 2023 by Andrew
As the number of immigrants that work in the US construction industry continues to rise, more foreign economies are benefiting. Many immigrants come to the United States to work with the intention of sending a large percentage of their money home to their families. This reality has spurred the creation and popularity of many new ways to transfer money internationally. Using an international money transfer app makes the transaction a lot simpler, more secure, and less expensive.
How Many Immigrants Work in the United States in the Construction Industry?
Nearly 3 million immigrants are employed as construction workers in the United States. These workers are usually in the United States for the sole purpose of working. Their intention is to come here for the job opportunities that are available and send money back home to their families.
These nearly 3 million people are here as workers and often have no intention of laying down roots. The construction industry benefits from having a robust pool of workers, and foreign economies benefit from the inflow of cash to their countries. The US also benefits from the money that these workers spend here, the taxes they pay, and the skilled and unskilled labor that they provide. In most situations, the benefits are mutual between all parties.
With the onset of the pandemic, many economists and construction industry experts wondered what the effect would be on the foreign workforce. All signs point to a future where the number of immigrants working in the construction industry in the US will continue to rise.
What Is the Growth Trend of Immigrant Construction Workers in the US?
According to industry reporting, the number of immigrants employed in the United States construction industry continues to rise. For many industry insiders, this trend isn’t surprising as immigrant workers have long held an important role in construction. There is still a significant need for housing in the United States, and the construction industry continues to be vibrant. There’s no sign that the building industry, both residential and commercial, will grind to a halt again as it did during portions of the pandemic shutdown.
This trend means that the inflow of cash from immigrant workers to foreign economies will continue to grow. Many foreign workers send a substantial amount of their earnings home and tend to spend very little money themselves. Time will tell if this trend continues, or if more money will be spent domestically. Whatever the future brings, it’s likely that, at least in the construction industry, immigrants will continue to be a significant part of the overall workforce.
Are There Advantages for Immigrants to Use Money Transfer Apps?
There are a number of different benefits that come with using international money transfer apps. One of the most commonly cited is the ability to transfer money from anywhere, at any time. There used to be a time when money transfers required a trip to a bank or other brick-and-mortar business that handled the transaction. This was an inconvenient set-up as these businesses and banks weren’t always open at convenient hours, especially for folks who spend the majority of their time working.
Another advantage is that there’s no longer a need to carry large sums of cash around. Before, wiring money overseas often required cash or a bank’s cashier’s check. This affected the safety of the immigrants and made them targets for thieves and scam artists. Additionally, wiring money costs money, and oftentimes, the fees could be substantial. With many of today’s transfer apps, it’s possible to send money internationally without having to worry about conversion rates or currency exchange fees.
