September 2, 2011: According to the recent report by the Government Accountability Office (GAO), people in the United States are facing big problem of unemployment.
The report was the outcome of the research conducted by the Government Accountability Office (GAO) in different parts of the United States. The report also concludes that there are 13.9 million unemployed people in the US and still increasing every year.
The findings of the report are summarized below.
Earlier the economy of United States was very stable and as a result the job opportunities were also very high. People from outside US were welcomed with immense job opportunities by the Unites States economy.
In the US, if any company is looking forward to employ s overseas worker, the company can avail the benefits which comes under the H-1B visa. According to this visa facility the company can hire any , who is not a resident of the United States for a period of six years. It is not necessary that the employee should have any qualification as the law also facilitates the employer to hire an uneducated/qualified employee who can be provided with training later on.
As a result the number of overseas employees increased. Now many experts have the opinion that the US companies are finding this as a big issue. In the current scenario the US economic condition is worse and many people are struggling with unemployment and those who have jobs are struggling to retain them. According to the study conducted by researching authority Government Accountability Office (GAO), there are many drawbacks with the conditions in the H-1B visa. This has made tracking of many foreign employees in the United States difficult.
There are end number of overseas employee in the United States, especially in the Business Process Outsourcing sector and the Information Technology (IT) industry. There is an expectation that the condition may lead to a situation where the US companies may decide to down size.
The report also focuses that IT and BPO sector will be the most affected by this crucial situation. The US based Indian outsourcing companies such as TCS, Infosys and Wipro may get a bad blow. TCS has recently recruited about 60000 employees in the previous year itself. Even though Indian outsourcing companies has gradually adopted the policy of recruiting home based employees, there is a huge number of overseas employees working in this particular outsourcing sector.
As this point of time the situation is very crucial and if the US authorities comes up with new laws to overcome the loopholes in H-1B visa, then it might be the outsourcing sector in the US especially Indian outsourcing firms get affected the most.