Melting Pot Meltdown
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BusinessWeek on "Why Skilled Immigrants Are Leaving the U.S." and how it impacts our future:
As the debate over H-1B workers and skilled immigrants intensifies, we are losing sight of one important fact: The U.S. is no longer the only land of opportunity. If we don't want the immigrants who have fueled our innovation and economic growth, they now have options elsewhere...Why should we care? Because immigrants are critical to the country's long-term economic health. Despite the fact that they constitute only 12% of the U.S. population, immigrants have started 52% of Silicon Valley's technology companies and contributed to more than 25% of our global patents.
Our new paper, "America's Loss Is the World's Gain," finds that the vast majority of these returnees were relatively young...They were at very top of the educational distribution for these highly educated immigrant groups—precisely the kind of people who make the greatest contribution to the U.S. economy and to business and job growth.
We may not need all these workers in the U.S. during the deepening recession. But we will need them to help us recover from it. Right now, they are taking their skills and ideas back to their home countries and are unlikely to return, barring an extraordinary recruitment effort and major changes to immigration policy. That hardly seems likely given the current political climate.