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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (12836)	10/5/2004 1:17:31 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

You buy this nonsense? I dont. I think they can not find enough US workers at prices they want to pay. ============================== US fills visa quota for skilled workers in one day By Edward Alden in Washington Published: October 5 2004 03:39 \| Last updated: October 5 2004 03:39 us immigrationThe US has immediately exhausted its annual quota of temporary visas for highly skilled foreign workers this year, making it impossible to hire engineers, mathematicians, researchers and others that US companies say are critical for their competitiveness. ADVERTISEMENT The quota of 65,000 H-1B visas was filled last Friday, the first day of the 2005 fiscal year, meaning that US companies must now wait until October 2005 to hire any new foreign workers under the visas. The immediate exhaustion of the quota has surprised even business critics of the cap, who have been lobbying Congress to restore the quota of 195,000 that was allowed to lapse a year ago. Job losses in the computer and high-tech sectors have made Congress reluctant to expand the quota, even though US companies argue most of the jobs filled are now outside those sectors. “It was a real wake-up call when these numbers were issued Friday,” said Sandra Boyd, who chairs Compete America, a corporate coalition pushing for more H-1B visas. “I don't think anyone believes it's acceptable that a whole year can now go by without any access to these people.” The H-1B visas have been extremely popular with US companies, which argue that they cannot find enough American workers with advanced scientific and engineering degrees to fill critical jobs. Last year the 65,000-worker cap was hit in February 2004, about five months into the fiscal year. Companies were allowed to submit applications against this year's quota in April. Theodore Ruthizer, who heads the business immigration practice at Kramer Levin, a New York law firm, predicted the backlog would grow unless Congress expanded the programme.