Bloomberg Businessweek reports that according to a recent study published by Prof. Benjamin Powell of Texas Tech, we need a new formula for determining the appropriate number of visas for skilled workers each year. The study reveals that the demand for H1-B visas has almost always been insufficient to satisfy the demand of US employers. Therefore, policymakers should delink the number of working visas from politics and tie it to the needs of the labor market.
The structure of the US economy has changed significantly over the past two decades, leading to an increase in the demand of highly skilled workers. As a result, the success of many U.S. businesses depends on the availability of trained workers with more formal education and training then before. For the US Economy to remain competitive, the labor force demands for skilled workers should be an important component of the immigration reform.
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