Wage arbitrage is the practice of creating a reduction of wages. This generally occurs through increasing the number of workers to create a market glut, thereby reducing the value of skills in the open marketplace.
In professions of the highly skilled (requiring eductional training) this occurs through displacing US workers by increasing the number of workers available for these jobs via the visa process. In the US, the H1-B visa is the normal means for this practice. Most of these visas go to computer science professionals. The amount of experience and skill sets are not considered for this visa, and US workers are not considered before jobs are offered to foreign nationals. This is why Bill Gates and other members of the Information Technology Association of America (ITAA) which includes the major US tech companies and India outsourcing compancies, have made massive contributions to US senators and representatives to continually introduce H-1B attachments to "must-pass" legislation which try to stuff it through under the radar.
For professions of limited skills (requiring no educational training) this occurs through the importation or illegal entry of legal or illegal workers. This is why the US Chamber of Commerce supports amnesty -- and why US senators and representatives who have received campaign contributions from entities profiting from reduced US citizen wages actively support illegal amnesty.
In high-tech, employers are afraid of highly-skilled people. Basically, our wages were becoming commensurate with the let's-do-lunch class, corporate lawyers, managers etc.
Instead of simply raising retails costs, they've chosen to pound wages down on the supply-side, without lowering retail costs.
My estimate is that over 50% of computer-related occupations are now held by temporary residents. As the USD continues to decline, what will stop the temporary residents from simply abandoning our economy?
Where will industry come up with 1.5 million highly-skilled workers who are up to speed with the latest technologies?
Comments
Wage arbitrage
Wage arbitrage is the practice of creating a reduction of wages. This generally occurs through increasing the number of workers to create a market glut, thereby reducing the value of skills in the open marketplace.
In professions of the highly skilled (requiring eductional training) this occurs through displacing US workers by increasing the number of workers available for these jobs via the visa process. In the US, the H1-B visa is the normal means for this practice. Most of these visas go to computer science professionals. The amount of experience and skill sets are not considered for this visa, and US workers are not considered before jobs are offered to foreign nationals. This is why Bill Gates and other members of the Information Technology Association of America (ITAA) which includes the major US tech companies and India outsourcing compancies, have made massive contributions to US senators and representatives to continually introduce H-1B attachments to "must-pass" legislation which try to stuff it through under the radar.
For professions of limited skills (requiring no educational training) this occurs through the importation or illegal entry of legal or illegal workers. This is why the US Chamber of Commerce supports amnesty -- and why US senators and representatives who have received campaign contributions from entities profiting from reduced US citizen wages actively support illegal amnesty.
Follow the money.
now don't cheat
and read the answer before you vote. ;)
Another thought...
In high-tech, employers are afraid of highly-skilled people. Basically, our wages were becoming commensurate with the let's-do-lunch class, corporate lawyers, managers etc.
Instead of simply raising retails costs, they've chosen to pound wages down on the supply-side, without lowering retail costs.
My estimate is that over 50% of computer-related occupations are now held by temporary residents. As the USD continues to decline, what will stop the temporary residents from simply abandoning our economy?
Where will industry come up with 1.5 million highly-skilled workers who are up to speed with the latest technologies?