Regional Federal Reserve Banks’ manufacturing surveys provide important insight into national economic conditions. The Dallas Fed’s Texas Manufacturing Outlook Survey performs well forecasting the ISM manufacturing index and U.S. industrial production.

During the downturn, advanced economies as well as developing countries adopted policies ranging from keeping new migrants out to encouraging resident migrants to leave.

When it comes to unemployment and labor force participation rates, immigrants do better in the United States than in most other countries. In 2005, for example, the foreign-born had average unemployment of 4.6 percent in the U.S., well below native-born workers’ 5.2 percent. U.S. immigrants...