The latest AP investigation into the Banking industry’s use of the H1B Visa program to hire foreign workers for U.S. jobs is telling. One would think at a time when the U.S. economy is bleeding jobs (like a critical care patient) that the H1B Visa program would be scaled back allowing for more Americans to fill the positions, First. Think of it as the first line of defense for the American worker.
Even as the economy collapsed last year and many financial workers found themselves unemployed, the dozen U.S. banks now receiving the biggest rescue packages requested visas for tens of thousands of foreign workers to fill high-paying jobs, according to an Associated Press review of visa applications.
The major banks, which have received $150 billion in bailout funds, requested visas for more than 21,800 foreign workers over the past six years for senior vice presidents, corporate lawyers, junior investment analysts and human resources specialists. The average annual salary for those jobs was $90,721, nearly twice the median income for all American households.
What’s wrong with this picture? Clearly, here is an issue to think about when it comes to a stimulus package. I sure you have seen the new ad campaign “Buy Made in American” well here’s a concept, how about “Hire an American”.
I’m just saying!