US Jobs: More than 5 lakh people got employment in America amid discussions of recession, unemployment rate declined

Many big companies of the world, including America, had shown the way out to their employees in the past, but now the situation has improved and people have got jobs. Surprising claims have been made in a report that President Joe Biden has described as good news. Let us tell you that there has been a significant decline in the unemployment rate in America.

Bumper Jobs Amid Recession
Economists are shocked and upset seeing the bumper recruitments. Also wondering why the Fed’s aggressive interest rate hikes haven’t slowed the pace of jobs at a time when many are dreading a recession.

Shortage of foreign skilled labor
A report titled ‘H-1B applications and denial rates in FY 2022’ by research organization National Foundation for American Policy (NFAP) states that the lower annual cap for H-1B applications may not result in higher H-1B registrations. have been able The report states that due to this rejection rate, the US is facing a shortage of foreign skilled workers.

Limit of issuing 85 thousand visas every year
As per the current provision, 85 thousand is the limit for issuing H-1B visas annually. In this, 20 thousand are required to be degree holders from American institutions, the remaining 65 thousand are allotted through lottery system. In April 2022, the US Citizenship and Immigration Services (USCIS) reported that employers submitted more than 483,000 H-1B registrations, nearly four lakh more than the annual limit of 85,000 for H-1B applications.

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