Datastream

The Data Behind America’s H-1B Visa Program

Published

2 years ago

May 17, 2021

Aran Ali

The H-1B Visa in Charts

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The Briefing

The H-1B visa is extremely tech focused, with total software developers making up 38% of all applications
More than 275,000 applications were filed in fiscal 2021, but only 85,000 will be accepted

H-1B Visa Origins

The H-1B Visa is an immigration program that brings highly skilled workers into America when a shortage of those skills exists in the domestic labor market. The program came to life as part of the Immigration Act of 1990, under the George H.W. Bush administration. Although the program was temporarily suspended for 10 months under the Trump administration, this stoppage has since been lifted by Biden.

Though regulations permit specialized knowledge workers from various fields, it is primarily tech jobs that crowd these occupations. For instance, software developers and computer systems engineers/architects collectively cover almost 50% of all roles.

Competition Intensifies

The H-1B visa is highly competitive. In fiscal 2021, program applications hit 275,000, a 15-year high. The program follows a lottery system where 85,000 applicants are selected at random. Today, that means a given applicant has about a 30% chance of getting in.

Year	Number of Applicants
2021	275,000
2020	200,000
2019	187,500
2018	200,000
2017	237,500
2016	225,000
2015	175,000
2014	125,000

Although the system is a lottery, the first 20,000 spots are reserved for those with a master’s degree or higher, so those holding a higher education tend to have improved odds.

Roughly two-thirds of applicants come from India. The large Indian presence exists in the sponsor companies list as well.

Tata Consultancy Services (TCS) is an IT services and consulting company, headquartered in Mumbai, India. In addition to being a top visa sponsor, they’re also among the top two US recruiters of IT services talent, an industry India thrives in. The company trades on the National Stock Exchange of India (NSE) and hold a market cap of $160 billion (₹12 trillion).

America’s Immigration Question

Unlike some other immigration programs, the H-1B visa is not permanent, with a duration of stay between three to six years, contingent on maintaining employment. Should a termination occur, the person must leave the U.S. within the 60-day grace period.

America’s view on immigration can fluctuate over time, affecting application numbers in some cases, like for university and MBA programs. A 2020 poll showed that “the social and political climate in the U.S.” and “feeling welcome in the U.S.” were two growing factors for a decline in international students over the last few years.

But as of now, it looks like this sentiment hasn’t transferred over to H-1B Visa applicants and the program remains more attractive than ever.

Where does this data come from?

Source: Quartz
Notes: Data comes from both 2019 and 2020

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Central Banks

Charted: Public Trust in the Federal Reserve

Public trust in the Federal Reserve chair has hit its lowest point in 20 years. Get the details in this infographic.

Published

1 week ago

May 23, 2023

Marcus Lu

The Briefing

Gallup conducts an annual poll to gauge the U.S. public’s trust in the Federal Reserve
After rising during the COVID-19 pandemic, public trust has fallen to a 20-year low

Charted: Public Trust in the Federal Reserve

Each year, Gallup conducts a survey of American adults on various economic topics, including the country’s central bank, the Federal Reserve.

More specifically, respondents are asked how much confidence they have in the current Fed chairman to do or recommend the right thing for the U.S. economy. We’ve visualized these results from 2001 to 2023 to see how confidence levels have changed over time.

Methodology and Results

The data used in this infographic is also listed in the table below. Percentages reflect the share of respondents that have either a “great deal” or “fair amount” of confidence.

Year	Fed chair	% Great deal or Fair amount
2023	Jerome Powell	36%
2022	Jerome Powell	43%
2021	Jerome Powell	55%
2020	Jerome Powell	58%
2019	Jerome Powell	50%
2018	Jerome Powell	45%
2017	Janet Yellen	45%
2016	Janet Yellen	38%
2015	Janet Yellen	42%
2014	Janet Yellen	37%
2013	Ben Bernanke	42%
2012	Ben Bernanke	39%
2011	Ben Bernanke	41%
2010	Ben Bernanke	44%
2009	Ben Bernanke	49%
2008	Ben Bernanke	47%
2007	Ben Bernanke	50%
2006	Ben Bernanke	41%
2005	Alan Greenspan	56%
2004	Alan Greenspan	61%
2003	Alan Greenspan	65%
2002	Alan Greenspan	69%
2001	Alan Greenspan	74%

Data for 2023 collected April 3-25, with this statement put to respondents: “Please tell me how much confidence you have [in the Fed chair] to recommend the right thing for the economy.”

We can see that trust in the Federal Reserve has fluctuated significantly in recent years.

For example, under Alan Greenspan, trust was initially high due to the relative stability of the economy. The burst of the dotcom bubble—which some attribute to Greenspan’s easy credit policies—resulted in a sharp decline.

On the flip side, public confidence spiked during the COVID-19 pandemic. This was likely due to Jerome Powell’s decisive actions to provide support to the U.S. economy throughout the crisis.

Measures implemented by the Fed include bringing interest rates to near zero, quantitative easing (buying government bonds with newly-printed money), and emergency lending programs to businesses.

Confidence Now on the Decline

After peaking at 58%, those with a “great deal” or “fair amount” of trust in the Fed chair have tumbled to 36%, the lowest number in 20 years.

This is likely due to Powell’s hard stance on fighting post-pandemic inflation, which has involved raising interest rates at an incredible speed. While these rate hikes may be necessary, they also have many adverse effects:

Negative impact on the stock market
Increases the burden for those with variable-rate debts
Makes mortgages and home buying less affordable

Higher rates have also prompted many U.S. tech companies to shrink their workforces, and have been a factor in the regional banking crisis, including the collapse of Silicon Valley Bank.

Where does this data come from?

Source: Gallup (2023)

Data Notes: Results are based on telephone interviews conducted April 3-25, 2023, with a random sample of –1,013—adults, ages 18+, living in all 50 U.S. states and the District of Columbia. For results based on this sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level. See source for details.