The Impact of International Immigration on the Economic and Labor Market of Destination Countries

Immigration as a major mode of population movement has a significant impact on a country's economy. This paper examines the impact of immigration on the economy and labor market of OECD countries using relevant data from OECD countries. The following conclusions are found:first, the impact of immigration on economic growth is not significant, adding relevant control variables, the results are still robust. The stock of immigrants can significantly promote economic growth, and the conclusion is still robust after adding control variables. That means there is a long-term effect of immigration on economic growth. Second, the immigration flow has a significant impact on the unemployment rate of the local residents in the host country. The immigration flow increases by 1% and the unemployment rate decreases by 0.18%. The stock of immigrants can also significantly reduce the unemployment rate of local residents, the stock of immigrants has increased by 1%, and the unemployment rate of local residents has dropped by 0.48%. The long-term effect of the immigration on the unemployment rate is greater than the short-term effect. Third, the impact of immigration flow and immigration stock on the local gender unemployment rate in the host country is significantly negative. Fourth, the impact of immigration flow on local wage level is not significant in the short term, but immigration stock can significantly improve the wage level of local residents. Fifth, the immigration stock can reduce the proportion of high-wage personnel and low-wage personnel at the same time, and thus to a certain extent narrow the income gap. Sixth, immigration flow has no significant effect on gender wage differences in host countries, but immigration stock can significantly reduce gender wage differences in host countries. It can be seen that international immigration significantly affects the economic growth of destination countries and the labor market, but there are differences in the impact of heterogeneous international immigration on the economic growth of destination countries and the employment and wage levels in different labor markets.