According to a new report, Amazon, Infosys, and Tata Consultancy Services (TCS) are the largest beneficiaries of the H-1B visa in the United States.
Based on data from the USCIS H-1B Employer Data Hub, the National Foundation for American Policy (NFAP) discovered that Amazon had the most accepted H-1B applications for beginning employment in FY 2022, with 6,396. It also had the highest number of new H-1B applications accepted in fiscal years 2021 and 2020.
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Infosys had the second-most H-1B petitions accepted for starting employment in FY 2022, with 3,151, almost 2,000 lower than in FY 2021.
TCS came in second with 2,725, a decrease from the previous year, followed by Cognizant (2,521), Google (1,562), Meta/Facebook (1,546), HCL America (1,260), and IBM (1,260). (1,239).
The 85,000 new H-1B petitions approved for corporations each year represent only 0.05% of the approximately 165 million workers in the US labour force.
Despite falling refusal rates, American firms have been grappling with a labour shortage exacerbated by a low yearly quota for the H-1B visa.
H-1B denial rates have returned to low levels following the Trump administration's losses in federal court during Donald Trump's final year in office, indicating that the low annual limit for H-1B petitions is currently the main issue confronting employers seeking foreign-born talent, according to the NFAP study.
The H-1B petition denial rate for initial employment was 2% in FY 2022 and 4% in FY 2021, the lowest known numbers since statistics on H-1B denial rates became available.
Employers submitted approximately 483,000 H-1B registrations in April 2022, about 400,000 more than the 85,000-annual maximum for H-1B petitions, according to US Citizenship and Immigration Services (USCIS).
According to USCIS data, the median annual pay for H-1B visa holders in FY 2021 was USD 108,000. In FY 2021, the median income for H-1B visa holders in computer-related occupations was USD 111,000, while the average salary in computer-related fields was USD 118,000.
The US Citizenship and Immigration Services (USCIS) revealed that in April 2022, firms submitted over 483,000 H-1B registrations, about 400,000 more than the 85,000 annual maximum for H-1B applications.
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H-1B petitions are counted in the fiscal year in which they are accepted, not in the cap year in which the H-1B visa holder starts working.
H-1B visas allow highly educated foreign applicants, including international students, to work in the United States on a long-term basis and eventually become employment-based immigrants and US citizens.
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Source: Deccan Herald
