Immigration has helped the hot US economy and labor market, but there's a risk of oversupply, Fitch says

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Immigration has helped the hot US economy and labor market, but there's a risk of oversupply, Fitch says

People walk by a now hiring sign posted in front of a CVS store on April 7, 2023, in San Rafael, California.Justin Sullivan/Getty Images Foreign-born workers are leading the increase in the US labor force, Fitch Ratings said. But a labor demand cooldown may cause an oversupply in the market, it cautioned. Jobs growth in the government sector is also fueling the labor market. US labor momentum seems stuck in high gear, after March added yet anoth…