Treasury Secretary Bessent Discusses Impact of Immigration Policies on Jobs and Wages

Treasury Secretary Scott Bessent recently addressed the role of President Donald Trump’s immigration policies in improving job prospects for American workers. He highlighted the administration’s efforts to increase real wages by curbing immigration and enhancing private-sector employment.

During an interview with Fox News’ Jesse Watters, Bessent emphasized that around 1.82 million deportations have taken place, reducing what he termed as “mass unfettered immigration.” According to Bessent, this shift has resulted in notable wage growth for American workers.

Bessent stated, “Before April, we consistently observed real wage gains for working Americans every month during President Trump’s tenure. I anticipate a return to that trend soon.” He attributed these gains to a reallocation of jobs to U.S. workers and a bolstered private sector.

“What’s more important is these are private-sector jobs,” said Bessent.

He noted that unlike government positions, real wage growth is predominantly driven by the private sector. Bessent argued that the current administration’s policies have not only opened up employment opportunities but have also reinforced wage growth for Americans.

Bessent also spoke about Trump’s strategies to downsize the federal workforce, which had expanded during the COVID-19 pandemic. “There was significant government expansion, but the president’s approach avoids increasing the deficit and decreasing productivity,” he explained.

He expressed optimism about an impending productivity surge akin to the one experienced in the 1990s.