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DEVELOPING: Fox News invited The ‘South Memphis Hypeman’ to motivate their crew and start the day off in a ‘unique way.’
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The H1-B Visa Situation:
Trump just raised the cost of an H-1B Visa to $100,000 PER YEAR, a +1,000% increase.
The US issues ~85,000 new H-1B Visas per year, which will now cost $8.5 BILLION/year.
What are the economic implications? Let us explain.
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Trump just raised the cost of an H-1B Visa to $100,000 PER YEAR, a +1,000% increase.
The US issues ~85,000 new H-1B Visas per year, which will now cost $8.5 BILLION/year.
What are the economic implications? Let us explain.
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An H-1B visa allows US employers to hire foreign workers in specialty occupations.
The initial Executive Order raised the cost of an H-1B visa to $100,000 for new AND existing holders.
The implications are MASSIVE.
For example, take a look at the top 15 H-1B visa employers.
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The initial Executive Order raised the cost of an H-1B visa to $100,000 for new AND existing holders.
The implications are MASSIVE.
For example, take a look at the top 15 H-1B visa employers.
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Amazon has ~11,000 employees on H-1B visas.
Assuming the cost of an H-1B goes from ~$10,000 to $100,000:
This would cost Amazon alone an incremental ~$990M PER YEAR.
These top 15 firms would incur an additional $7.2 billion per year in expense under the INITIAL Order.
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Assuming the cost of an H-1B goes from ~$10,000 to $100,000:
This would cost Amazon alone an incremental ~$990M PER YEAR.
These top 15 firms would incur an additional $7.2 billion per year in expense under the INITIAL Order.
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After an initial widespread panic among many large employers, the Trump Administration made a change today.
According to Politico, the fee increase will now ONLY count for NEW applicants.
While this is a huge change, it will have widespread implications on the labor market.
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According to Politico, the fee increase will now ONLY count for NEW applicants.
While this is a huge change, it will have widespread implications on the labor market.
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The new policy will create a massive barrier to entry for non-US citizens in the US labor market.
Currently, ~73% of the H-1B visa program comes from India and ~13% from China.
Existing holders will actually benefit from less competition.
New applications will fall sharply.
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Currently, ~73% of the H-1B visa program comes from India and ~13% from China.
Existing holders will actually benefit from less competition.
New applications will fall sharply.
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Here's where it gets even more interesting:
If you take a look at the list of H1-B visa employers, it is highly concentrated in tech.
In fact, 20% to 25% of electrical engineers in Silicon Valley hold H-1B visas.
That's more than TRIPLE the national average.
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If you take a look at the list of H1-B visa employers, it is highly concentrated in tech.
In fact, 20% to 25% of electrical engineers in Silicon Valley hold H-1B visas.
That's more than TRIPLE the national average.
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The initial reaction by employers has been full of panic.
Alphabet, the parent company of Google, is advising all H1-B visa holders who are abroad to return BEFORE September 21st.
Microsoft and other technology giants have done the same amid the sudden change in policy.
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Alphabet, the parent company of Google, is advising all H1-B visa holders who are abroad to return BEFORE September 21st.
Microsoft and other technology giants have done the same amid the sudden change in policy.
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Take a look at Infosys, the 7th largest employer of H-1B visas:
The news came out at 1:50 PM ET on Friday and Infosys stock, $INFY, was -8% lower just 30 minutes later.
We expect some relief on Monday as markets react to the news that existing H-1Bs will not be impacted.
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The news came out at 1:50 PM ET on Friday and Infosys stock, $INFY, was -8% lower just 30 minutes later.
We expect some relief on Monday as markets react to the news that existing H-1Bs will not be impacted.
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Ultimately, Trump believes he is bringing jobs back to Americans with this move.
Particularly for Americans who are seeking entry level jobs.
The US unemployment rate for youth graduates aged 20-24 has averaged 8.1% over the last 3 months, the highest in 4 years.
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Particularly for Americans who are seeking entry level jobs.
The US unemployment rate for youth graduates aged 20-24 has averaged 8.1% over the last 3 months, the highest in 4 years.
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As the labor market weakens, we expect more policy changes from Trump.
The underemployment rate in the US just jumped to 8.1%, the highest since 2021.
The labor market has taken the spotlight.
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The underemployment rate in the US just jumped to 8.1%, the highest since 2021.
The labor market has taken the spotlight.
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When BTC inevitably catches ups with M2 money supply
We will see parabolic pumps across the market.
Don’t say you weren’t warned
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We will see parabolic pumps across the market.
Don’t say you weren’t warned
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MADURO SLIDES INTO TRUMP’S INBOX AFTER U.S. STRIKE
Maduro just wrote a letter to Trump asking for “direct and frank conversation” a few days after a U.S. strike blew up a Venezuelan boat and killed 11 people.
Trump insists the boat was full of drug traffickers.
Maduro shot back that Venezuela isn’t the drug highway Washington claims, saying most smugglers go through Colombia and that his forces destroy most shipments anyway.
He accused the U.S. of cooking up “disinformation” to justify a war.
Trump’s reply? More firepower.
He’s already reportedly ordered extra strikes, parked 7 warships and a nuclear-powered submarine near Venezuela, and even sent in F-35 stealth jets.
He also warned that Venezuela must accept deported prisoners or face an “incalculable” price.
It’s basically two men playing chicken on the world’s most dangerous highway.
The problem? Both have their foot on the gas and neither wants to blink.
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Maduro just wrote a letter to Trump asking for “direct and frank conversation” a few days after a U.S. strike blew up a Venezuelan boat and killed 11 people.
Trump insists the boat was full of drug traffickers.
Maduro shot back that Venezuela isn’t the drug highway Washington claims, saying most smugglers go through Colombia and that his forces destroy most shipments anyway.
He accused the U.S. of cooking up “disinformation” to justify a war.
Trump’s reply? More firepower.
He’s already reportedly ordered extra strikes, parked 7 warships and a nuclear-powered submarine near Venezuela, and even sent in F-35 stealth jets.
He also warned that Venezuela must accept deported prisoners or face an “incalculable” price.
It’s basically two men playing chicken on the world’s most dangerous highway.
The problem? Both have their foot on the gas and neither wants to blink.
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John Pavlovitz: “Charlie Kirk was a racist, homophobic, transphobic, misogynistic, anti-immigrant fascist who despises empathy."
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Trump did not wanted London mayor at the banquet.
He specifically asked him not to be there
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He specifically asked him not to be there
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