close to 30 timesResearch Finds Members of Congress and Critics Likely Costing U.S. Jobs by Restricting the Entry of H-1B Professionals:
The lump of labor fallacy is the mistaken belief that there exists a fixed number of jobs or amount of labor, which would mean new people entering the labor market would cause someone else to lose a job. That is not how a market economy works.by economists Giovanni Peri, Kevin Shih, Chad Sparber and Angie Marek Zeitlin found that denying the entry of H-1B visa holders due to the annual limits has harmed job growth for U.S.-born professionals. “The number of jobs for U.S.
“Cities whose employers faced large numbers of denials in the H-1B visa lotteries experienced considerably less job creation and wage growth for American-born computer workers in the two years that followed,” the economists found. “Denying H-1B visas didn’t help the economies of America’s cities or their U.S.-born workers. Instead, it cost their tech sectors hundreds of thousands of jobs and billions in missed wages.
Congress is unlikely to address the law of supply and demand for H-1B visas and may even decide to drive more talent and employer resources out of the country by enacting new restrictions. Aremains on employment-based green cards. A House-Senate conference committee could decide to enhance national security and the U.S. economy by permitting foreign nationals with Ph.D.s in science and technology fields or those with advanced degrees in critical industries to immigrate to the United States.
That's really true
More cheap labour for our hedge fund buddies 😘
Wokeness will hurt Americans in longer run.
🤩🤩🤩❤❤😍😍❤❤🤩🤩🤩
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