While the passage has continued to experience the rise in jobs and the development of the unemployment workforces always remains the key issue, as the firms continue to get the qualified workers to fill the vacant positions.
There are many achievable solutions to this issue, but one solution that gives the warranty for strong consideration is the modernization of the US immigration system.
According to the latest study, for every 3-4 job openings in the STEM streams in some regions of the US there is only one qualified employee.
Some regions in the US are also facing the shortage of workers with high skills in the STEM fields. It has become gradually more important to hold on the talented overseas students and workers if this growth continues.
It is the responsibility of the US to ensure that it attracts, utilize and retains the talent with high skills in some regions for addressing the workforce requirement.
H-1B visas are significant component for the success of these regions. The H-1B visa program allows the overseas students, graduates and the professionals in the specialized STEM streams to work in the US.
There has been some achievement in attracting the talent to the area. H-1B visa is having all the potential for adding the major number of workers with high skills to these regions.
The limits and restrictions on the visa is continuing to weaken the future growth potential of the firms. This year around 2,30,000 applications for H-1B visa were submitted for only 85,000 spots for the visa.
The immigration has broken and should be updated to meet the requirements and demands of today’s market and the society.
It is estimated that every overseas student who graduates from the University of the US in the STEM streams is creating an extra 2.62 US jobs.
Facing the shortage of STEM employees, the reform in the immigration would clearly assist the businesses of certain regions of the country as they continue to prosper, rise, attract and retain the qualified workforce with high skills.
Finding the solution to modernize the H-1B visa program for increasing the access to workers with high skills might be the first step in that direction.