labor

April -- H-1B -- Fools

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April -- H-1B -- Fools

The law of supply and demand still works!

The National Science Foundation has published a document entitled, "Science and Engineering Indicators 2008." One very interesting point for 2006, was that computer-related H-1B workers with a Bachelor’s degree, earned on average, $400.00 more per year than those with a Master’s degree.

2006, was the first year of the 20,000 visa H-1B exception for postgraduates of American colleges. The media made a big fuss about the base 65,000 visa running out quickly in 2006 and 2007. I suspect that the U.S. Chamber of Commerce had to do some arm-twisting to get the 20,000 postgraduate cap exhausted.

Also

Stuart Anderson's, National Foundation for American Policy (NFAP) study of unfilled positions is being quoted as a reason to raise the H-1B caps. I took the liberty of looking at the size of each company in the NFAP, "30 U.S. Companies With Most Job Openings For Skilled Positions."

The Crisis in Household Finances

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The crisis in household finances: total hours worked and real compensation per hour both declined in Q4 and yr/yr ...worse than previously reported.

The details of today’s revised BLS report on Q4 productivity and costs are again very instructive on the state of the economy.

According to the BLS, total non-farm output in 2007-Q4 grew by even less than the BLS had estimated last month; 0.27% annualized growth rather than their earlier estimate of 0.35%. It is important to note this small downward revision to the original estimate of virtual stagnant output because the headline (and virtually only media “reporting”) is that non-farm productivity growth was revised slightly upward from the initial 1.82% annualized rate to 1.85%.

The Horizon Project

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You have probably never heard of the Horizon Project or even Ralph Gomory and William Baumol and their book on Trade and Conflicting Interests..

But, these policy proposals are unique, innovative and deserve strong consideration and discussion.

The Horizon Project's Agenda:

Project members believe we need to act now - on economic & trade policy issues, education, health care and public infrastructure investment - to stave off the rosion of our competitive advantages and the loss of the nation's middle class base

TATA earns $120 Million Contract with Chrysler

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Just last week, the news was filled with the announcements of huge layoffs among UAW members at Chrysler. The UAW planned to file complaints with the National Labor Relations Board because it seems Chrysler was shedding the American workers while maintaining the H-1B workers ( foreign workers here on guest worker visas).
It did not take TATA Consultancy Services (TCS) long to begin bragging of their latest deal - a contract with Chrysler worth $120,000,000.

TCS in $120 mn Chrysler deal
BS Reporter / Mumbai February 21, 2008
IT major Tata Consultancy Services (TCS) has signed a multi-year contract worth $120 million (around Rs 480 crore) with US automaker Chrysler.

TCS will deliver application maintenance and support services to Chrysler. The IT services initiative will encompass a portion of the functional areas within Chrysler such as sales and marketing and shared services.

Hours Worked Declined Sharply and Wages Fell

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Today's BLS report: total hours worked DECLINED sharply in Q4 and AVERAGE real wage/benefit compensation per hour FELL.

After years of denial and spin about the financial condition of US households/consumers, you might think the newswires and salesmen on cable would be buzzing with the key findings in today’s BLS report on US hours worked, real compensation, output and productivity. You would be wrong; the debt industry’s misleading confidence game prevails with the key findings either not mentioned at all or they are relegated to an afterthought as space permits.

The key finding in today’s report is that the total number of hours worked (and paid) in non-farm businesses during 2007-Q4 FELL at an annual rate of -1.5%. Indeed, THE TOTAL NUMBER OF HOURS WORKED IN Q4 WAS LESS THAN IN 2006-Q4. The report shows total non-farm jobs also falling at a -0.5% annualized rate in Q4 and rising by only 0.4% yr/yr.

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