Submitted by CARPE DIEM

Conclusion of the study H-1 B Visas and Job Creation: Based on a regression model that controls for both general market conditions and firm size, requests for H-1B certifications by U.S. technology companies are associated with an increase in total employment more than five times the size of the H-1B request. The data show that for every H-1B position requested, U.S. technology companies in the S&P 500 increase their employment by 5 workers. For technology firms with fewer than 5,000 employees, each H-1B position requested in labor condition applications was associated with an increase of employment of 7.5 workers.

Bill Gates, testifying before Congress: Congress’s failure to pass high-skill immigration reform has exacerbated an already grave situation. The current base cap of 65,000 H-1B visas is arbitrarily set and bears no relation to the U.S. economy’s demand for skilled workers. Today, knowledge and expertise are the essential raw materials that companies and countries need in order to be competitive. We live in an economy that depends on the ability of innovative companies to attract and retain the very best talent, regardless of nationality or citizenship.

WSJ: The Labor Department projects that by 2014 there will be more than two million job openings in science, technology, engineering and math fields. But the number of Americans graduating with degrees in those disciplines is falling. Meanwhile, visa quotas make it increasingly difficult for U.S. companies to hire foreign-born graduates of our own universities. Last year, as in prior years, the supply of H-1B visas was exhausted on the first day petitions could be filed.

Bottom Line: More H-1B visas, more U.S. jobs, not fewer jobs.

Visit 1800blogger to see all of our industry leading blogs.