Bear Market - and 200000 H1s and potentially 600000 GCs

M

marketwatch

Registered Users (C)
Just wondering how many of the 200000 visas would be used esp with the markets going down and the dot coms laying off in record numbers.!
A very scary thought.. if there are 200000 added every year for 3 years and if the people start losing jobs the sentiment could very easily become anti-immigrant. Any body has any thoughts to share on this
 
No Title

Well, if there is a bear market, there are not going to be 200,000 H1 in this country per year. The flow will automatically slow down, would it not? Even now, the general public sentiment is not pro-immigrant. So, there is no question of this turning anti-immmigrant.

Also, if there is a bear market, you suffer whether you have GC or not and whether you get to live in the US or not. I am more
afraid of a protracted bear market than the long wait to get a GC.
 
No Title

Very true. GC or no GC everyone is in trouble if the market were to collapse.
Analysts are already recommending that Lucent needs to cut 30-40% of its workforce to be profitable..! Everybody and their aunt seems to work for lucent in nj not to mention the tons of body shops depending on lucent contracts.
Lets hope for collective good the economy steps up.. somehow i have a sneaky feeling that the tech companies behind this 200K visa push are trying to get tech labor costs down and flood the market with candidates so that they would be in a position to dictate terms with employees and not the other way around. the figures for the demand of IT workers seem to be unrealistically inflated. could have been true when the globe.com was at $70 ... but am not sure in the next few months its going to be the same.
It will be interesting to watch the developments.
 
No Title

Stock market goes up and it goes down. I still remember
that Boston Global had only a couple of pages of
"Help Wanted" and most of job opennings required 5-10
year working experience -- that\'s 1992. Even in 1994,
lots of companies in MA/NH did not hire H-1B workers.
Starting from 1995, things became better and better
and we witnessed the golden age of 1997, 1998, and 1999.

The economy cycles over and we can wait for future
good days if we have GC. Unless we meet 1930s again,
we will be able to survive and good days won\'t be far
away. Staying here as H-1B holder in bad days really
suffers.
 
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