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Pablo Martinez Monsivais / AP President Bush |
Last week, the U.S. reached its H1-B visa issuance limit for 2008. Hoffman said that America's visa and green-card systems are in "dire need" of reform -- i.e., expansion. He told CNBC's Sue Herera that it's not merely a matter of "filling jobs -- but filling jobs that create other jobs." He warned that a qualified-candidate gap in "biotechnology, nanotechnology and green fuel cell technology" would create vast voids in secondary employment.
But Hira declared that granting more H1-Bs won't guarantee U.S. economic stability -- and may even devalue America's skilled labor. The professor said that tech firms like Infosys and Wipro "use H1-B the most" -- and are actually outsourcing the jobs to other nations. He maintained that the offshoring of jobs can depress salaries, as overseas firms paid IT workers a median wage of $50,000 in 2005.
Hoffman retorted that companies such as Hewlett-Packard, Microsoft, Intel, Cisco Systems, Sun Microsystems and his own Oracle use H1-Bs as a "path to a green card."
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Data is a real-time snapshot *Data is delayed at least 15 minutes