The US might not hold a second H-1B visa lottery

For fiscal year 2023, the United States may not hold a second H-1B visa lottery. Immigration lawyers speculate that the H-1B visa program will be shut down.

Foreign nationals with a high level of education in certain subjects are eligible to apply for a temporary work visa in the United States under the H-1B program, also known as the specialty occupation visa. The United States Citizenship and Immigration Services (USCIS) has accepted 483,927 H-1B registrations so far this fiscal year, which is 7% more compared to the same time last year.

The application period was from March 1 to March 18, 2022. To issue the required 65,000 visas and an additional 20,000 visas for master's applicants, USCIS held a total of three visa lotteries last year. Due to the USCIS fiscal year running from October to September, successful candidates for fiscal year 2023 could begin working on their application starting in October 2023.

US IT companies are increasing the number of employees they bring into the country with H-1B visas, while Indian companies have been reducing the share of workers they hire with such visas in recent years. Even during the peak of the pandemic, the unemployment rate for tech jobs remained relatively low, which is a sign of the industry's continued popularity.

SOURCE: TECHGIG | PHOTO: TECHGIG