GOLDMAN CUTS ITS 2025 IMMIGRATION FORECAST TO 500K (FROM 750K) Goldman Sachs says tighter U.S. immigration policies in early 2025 cut net immigration from 1.7M in December to 0.7M in February. Deportations are steady, but fewer immigrants are arriving. Labor force participation and unemployment rates for immigrants are stable, though fewer respond to labor surveys, possibly due to enforcement fears. Goldman cuts its 2025 immigration forecast to 500K (from 750K) and expects slower labor force growth, reducing monthly gains by 40K. The bank now sees a 0.1% drag on potential GDP growth, double its previous estimate.