Foreign-Born Workers Boost Europe's Post-Pandemic Growth

Christine Lagarde spoke in Jackson Hole, Wyoming. She said foreign workers helped Europe lower inflation. This happened without a big drop in economic growth after the pandemic.

Lagarde said more foreign workers joined the workforce. This helped Germany's economy grow. Without them, Germany's GDP would be much lower than it is now.

Spain's economy also grew because of foreign workers. They helped companies make more things after the pandemic. This increase in supply helped to reduce the amount of inflation in Europe.

Lagarde said more people may be needed to work. Many people are getting old and leaving their jobs. However, some people do not want more immigrants coming into the country.

Japan also has more foreign workers since the pandemic. They are a small part of the workforce, but they are growing. More older people are working too, and this helps keep unemployment low.