Quote (Bazi @ Oct 6 2020 06:02pm)
To be fair I think there is a supply chain problem with certain fields
How did we ever get to the point where the market prefers a biden victory
The simulation is having a lot of glitches
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 department to India anyways, and when you can't offshore those jobs pay politicians to bring that cheap labor here.
This post was edited by ofthevoid on Oct 6 2020 04:24pm