President Trump's moves to restrict employment-based immigration will be probably costly in the long run — especially California, analysts say.
President Trump’s four-year crusade against immigration has pushed the number of foreign workers and other immigrants arriving on American shores down to the lowest level in decades.
Trump officials have sought to frame the latest H-1B rules as a coronavirus-induced emergency to save American jobs, bypassing the public-comment period to impose some of the changes right away. Studies have shown that immigrants tend to start new companies at higher rates than natives, and can help boost productivity with new ideas and fresh capital.“Immigrants are by definition risk-takers,” said Mark Zandi, chief economist at Moody’s Analytics.
And while corporate giants like Amazon, Google and Microsoft have been among the biggest beneficiaries of the existing visa program, smaller firms and start-ups may end up being hurt more, said Stephen Yale-Loehr, an immigration expert at Cornell Law School. Apart from concerns that too many H-1Bs have gone to Indian-owned outsourcing firms, critics say the program displaces American jobs and depresses wages. But while studies have suggested that can happen when there’s excess labor in lower skilled occupations, there’s little evidence of such effects in fields requiring high-skilled workers.needed to benefit the economy. But rather than a comprehensive fix, he’s targeted various pieces of America’s patchwork system.
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