Raising the caps on legal foreign workers could be an important measure against inflation.
The Wall Street Journal reported last month that Walmart, the nation’s largest retailer, is struggling to find workers despite increasing salaries to more than $100,000 for truck drivers and more than $200,000 for store managers. Starting pay at Wall Street banks and top law firms has also risen significantly.
Small-business owners likewise are having trouble hiring and retaining workers even after boosting compensation. Fast-food restaurants are offering managers six-figure salaries to fill openings, while manufacturers pay signing bonuses and cover relocation costs, even for hourly positions.
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Jason L. Riley is a senior fellow at the Manhattan Institute, a columnist at The Wall Street Journal, and a Fox News commentator. He is the author of the recent book “The Black Boom.”
This piece originally appeared in The Wall Street Journal