Amidst the hullabaloo being made by the Trump administration, the recent report by National Foundation for American Policy (NFAP) stated that the 9,356 new H1B petitions approved in the FY 2016 for the top seven Indian-based companies represent only 0.006% of the US labor force.
According to the statement released by NFAP, “While the threat of job loss has long been exaggerated by critics, it reaches illogical proportions when discussing fewer than 10,000 workers in an economy that employs 160 million workers nationwide.”
The drop in approvals is also because of the fewer number of applications being filed by the employers. In the report, it was also stated that the drop in H1B petitions filed was primarily because of industry trends shifting towards digital services such as cloud computing and artificial intelligence which require fewer workers. Also, considering that the data which reflects the initial employment in FY 2016, the petitions were actually filed in April 2016, and hence are not influenced by the Donald Trump’s election. For that matter, because of the low unemployment rates in many industries in the US, it predicts rising demand for skilled professionals in the future.
According to a news report, the top companies with newly approved H1B applications in 2016:
Tech Mahindra 1,228
HCL America 1,041
Larsen & Toubro 870
Ernst & Young 649
Goldman Sachs 287
UST Global 283