Other documents suggest that the recession may be earlier. “The combination of tariffs, rising inflation, deportation, global political unrest and tensions, and reduced credit availability could lead to a “2025 Young Recession”” under its holding company Hanmi Financial Corp.
Some companies say deportation could exacerbate labor shortages. Century Communities, a home construction company, said in its 2024 annual report that if it fails to hire enough skilled businessmen and contractors, it “could have a material adverse impact on our service standards.”
“Among other factors, labor shortages may lead to slower immigration rates and/or increased deportation because the majority of construction labor is made up of immigrants,” the document said.
Some companies mentioned deportation but said they were unsure how the crackdown could affect their business. For example, banks Bridgewater Bancshares, Heartland Bank and Trust Company, and Heritage Bank’s holding companies refer to mass deportations in a list of factors that may affect their “forward-looking statements” that can predict how banks perform in the coming months. However, the two companies no longer say that deportation would harm or help their business.
Other companies say the deportation poses some risks to the economy, but point out that they do not expect it to cause widespread damage or damage to their businesses.
“Strengthier immigration controls and deportations” could lead to different results, the company said in a document from the Forum Investment Group’s Real Estate Income Fund. The documents say these policies may increase inflation, but could be “a favor for American workers (higher wages)” or cooling “overheating housing markets.”
Some companies believe that their business may be at risk if their customers are affected by deportation. Pacific Airports Group, which operates through airports in Mexico and Jamaica, said policies such as mass deportation and restrictions on international travel will greatly affect airport traffic, thus affecting the company’s bottom line.
“These measures could create uncertain economic conditions in Mexico, affecting leisure, visiting friends and family, and business trips around the country,” the document said.
Meanwhile, Cloud Communications and Financial Services Company IDT Corporation said that mass deportation could “negatively affect” corporate customers, such as the remittance transfer service boss currency and the remittance and international call service company boss revolution. IDT claims that anything that undermines people’s ability to work or travel abroad can hurt customers and thus their business.
Price shops in discount stores operating across Central America say mass deportations could have devastating effects on the entire region. The documents say that if foreign workers send money to their families in Guatemala, El Salvador, Nicaragua and Honduras, the economies of these countries will suffer, and the Prest shops will also be affected. The company warns that money from foreign workers is a “critical source of income and poverty for millions of families.”
