Quote (ofthevoid @ Oct 6 2020 05:15pm)
Wouldn't call it a supply chain issue.
The issue, at the heart of it is American labor is more expensive than foreign labor. So a lot of these tech corporations would want to be able to hire foreign labor that have better work ethic and are cheaper. I worked for a large corporate bank, we had tons of IT teams in India.
We've talked about how wages have been stagnant for a long time, they are becoming increasingly so even in professional industries. I'm finishing up my MBA and every single informational call I join for a potential target company to work for it's like 3/4 Indian students that need H1B visas and will take a low salary just to get that visa. That pushes out qualified candidates because obviously they aren't going to take some 3/4 of a salary. I remember going to one of these presentations and the recruiter said they don't offer visas and like 3/4 of the classroom got up and left rudely half way through the guys sentence.
If you have 10 qualified Americans applying for a job and the minimum expected salary is 70k and then you have 10 others who are from India or China who will take some bare bones 50k salary just to get the visa, you don't think that's problematic?
Issue is that our labor force participation rate is already plummeting. Don't tell people to learn to code, and then offshore the IT to department to India anyways, and when you can't offshore those jobs bring that cheap labor here.
I hear what you are saying loud and clear. Believe it or not similar thing occurs with healthcare. these fucks will take any job and then corporate healthcare normalizes these salaries.
I specifically said certain sectors, while not intending to argue against the primary thesis because I largely do agree, but like battery engineers for example. I have a buddy who’s entire team is Chinese because there are no American battery engineers as qualified. He works for GM and says his company actively trying to find recruits and just can’t find them
Quote (excellence @ Oct 6 2020 05:13pm)
Honestly hilarious
This is what u get for directing American tax dollars into corporate bonds. Could do the ultimate fuck all and sell the bonds instead of letting them mature.