Slump Sinks Visa Program

A coveted visa program that feeds skilled workers to top-tier U.S. technology companies and universities is on track to leave thousands of spots unfilled for the first time since 2003, a sign of how the weak economy has eroded employment even among highly trained professionals.

Companies that use H-1B visas argue the market, rather than Congress, should dictate the number of visas issued. The fact that the 65,000-visa cap hasn’t been reached this year shows that the market will temper demand when necessary, said Jenifer Verdery, director of work-force policy at Intel Corp., who represents a coalition of companies that use the visas.

“Contrary to the claims of H-1B critics, if importing cheap labor were the goal of H-1B visa employers, these visas would have been gone on the first day applications were accepted last spring,” Ms. Verdery said. “In slow economic times, such as today, the demand decreases and the market takes over, which is as it should be.” Read more at online.wsj.com