I'd implore anyone to read the Migration Advisory Committee's report on the impact of EEA migration in the UK. It assesses labour market impacts, investment, finance, community impact, house prices and a raft of other areas when making its assessment. It's 140 pages but the summary in section 7 gives a fine précis. Yes, I've read the whole thing (a hazard of my day job). I can't recall seeing its extensive analysis quoted in the press, but I might be wrong. In any case, it's worth a read.
Some key summary points:
Overall no evidence that EEA migration has reduced employment opportunities for UK-born on average. Some evidence that migration reduces employment and raises unemployment of some groups (e.g. the young and less well-educated) but subject to significant uncertainty.
Overall no evidence that EEA migration has reduced wages for UK-born workers on average. Some evidence that migration has reduced earnings growth for the lower-paid and raised it for the higher-paid, but again these findings are subject to uncertainty.
High-skilled immigrants increase innovation.
No evidence that migration has reduced the training opportunities of the UK-born.
EEA migrants, especially those from EU13+, pay more in taxes than they receive in welfare benefits and consume in public services.
EEA migrants make a larger contribution both in terms of money and work to the NHS than they receive in health services. No evidence that migration has reduced the quality of healthcare.
Migrants or the children of migrants make up an increasing proportion of the school-age population. EEA migrants are a smaller proportion of workers than students in primary and secondary education but a higher proportion in higher education. Children with English as an additional language academically out-perform children with English as first language. No evidence that migration has reduced the educational attainment of other children or the choice of schools.
No evidence that migration affects the overall level of crime.
The evidence presented in this report suggest that despite the significant scale of migration from EU countries over the past 15 years, the overall economic impacts have been relatively small with the main effect being an increase in population. EEA migration as a whole has not harmed the existing resident population overall, as has been claimed by some, but also has not had the significant benefit claimed by others. This does not mean that the impact of all migrants is the same.