When I was teaching myself about the stock market, I loved the investors business daily.
But this crap is the most uninformed propaganda that I have ever read.
It’s true that if you limit the flow of tech workers coming into the U.S. under the H-1B visa program, you will likely see more native-born Americans being hired in the short run. But it won’t last. And long-term, limiting the flow of highly productive, highly trained workers will hurt our economy — not help it.
We’re not open-border types by a long shot. But letting the world’s smartest, best-educated people come into this country is a win-win. Numerous studies show it will add substantially to our total productivity, thereby adding to the total economic output and making us all, as a nation, better off.
Those who say it “costs” jobs have to define that term. Evidence suggests otherwise. Yes, as we noted, it is a fact that for every foreign person who gets a job, one American doesn’t. But that’s not the whole picture.
A study by economics professor Madeline Zavodny of Agnes Scott College, for instance, found that for every 100 H-1B workers let into the U.S., 183 new jobs were created.
And once here, high-end tech immigrants have an extraordinary record of entrepreneurial success.
Just over half the so-called “unicorns” — startups that are worth more than $1 billion — were started by immigrants, creating tens of thousands of jobs for, yes, Americans. That’s 44 companies, each, on average, employing 760 workers.
44 companies creating 760 jobs each is 33,440 jobs.
In a country where 30 million are unemployed, you tell me that 33,400 jobs have been created.
Am I supposed to jump up and down for joy?
Or fall on the ground laughing my ass off?
As for those jobs that they have created.
Where are they?
I created this chart in Oct 2016.
The red line shows the high point we hit in 2007 before this depression.
any blue above the red line shows jobs that have actually been created versus those that simply were regained.