Over the course of the pandemic, the United States has seen a variety of industries suffer significant labor shortages–many still struggling to attract talent, dueling with counter offers to win a candidate, and even then, accepted offers are being forfeited for a multitude of reasons. One solution that could help mitigate this growing gap in skilled, available, and committed workers is by allowing more foreign nationals to immigrate to the US and fill these employment needs.
In fact, a recent article warns that “If the US does not take steps to counter the shortage of high-skilled workers in the country, it could result in over 9 million job vacancies and $1.2 trillion in lost production over the next decade,” according to a report published by a network of technology CEOs on TechNet. Currently, data shows that there are more than 10 million job openings across the US with more than 7 million people unemployed. That number will only continue to grow.
A significant opportunity to course correct this foreshadowed challenge is with immigration reform. Specifically, reform regarding the visa availability for skilled workers, such as the H-1B visa. Reform is long overdue, considering the fact that the program has remained relatively unchanged in almost 15 years.
The current domestic labor shortage paired with the global race for talent and innovation, create the perfect environment to accelerate change. As America continues to grow and lead in a variety of industries, the labor shortage predicament has the potential to fester into a fiscal disaster.
At Loigica, we believe in the foreign national’s work ethic, as we are a firm made up of immigrants from around the world. If you’re an employer looking to bring diversity to your workforce in the form of H-1B talent, let’s talk! Our firm has helped thousands of skilled workers legally begin employment through specialized work visas such as H-1B.