High-skilled migrants are vital for the US economy, the OECD's chief economist told AFP, after the United States imposed a $100,000 fee for H-1B visas widely used by the tech industry.
"We do think that continuing to attract high-skilled individuals from the United States or from around the world is a key strength of the US economy," OECD chief economist Alvaro Pereira said in an interview.
Some big tech companies warned visa holders to stay in the United States or return quickly after the Trump administration said last week it would ask companies to pay the fee for such visas.
The new policy took effect at 12:01 a.m. Eastern Sunday.
An H-1B allows employers to hire foreign workers who have specialized skills and a bachelor’s degree or the equivalent. They are good for three years and can be extended another three years, suggesting that there are now “around 700,000 H-1B visa holders in the country and another half a million or so dependents,” economist Stephen Brown of Capital Economics wrote in a commentary Monday.
At least 60% of the H-1B visas approved since 2012 have been for computer-related jobs, according to the Pew Research Center. But hospitals, banks, universities and a wide range of other employers can and do apply for H-1B visas.
The number of new visas issued annually is capped at 65,000, plus an additional 20,000 for people with a master’s degree or higher. Those visas are handed out by a lottery.
Some employers, such as universities and nonprofits, are exempt from the limits.
According to Pew, nearly three-quarters of those whose applications were approved in 2023 came from India.
