Why is work-related migration to rich countries falling?

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Work-related migration to wealthy OECD countries experienced a significant decline of 21% between 2023 and 2024, according to a recent OECD report. This decrease, impacting countries across Europe, Australia, Canada and the UK, saw the number of people admitted for permanent work purposes fall to approximately 934,000. The downturn is attributed to a combination of factors, including weakened labor markets and the tightening of visa policies in countries like the UK. A less favorable global economic situation, as highlighted by the IMF's reduced growth forecast, also contributed. Additionally, the influx of Ukrainian refugees granted temporary protection in Europe has eased labor shortages in some sectors, further reducing the demand for foreign workers.
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