"Record Registrations and Tech Layoffs Increase H-1B Visa Lottery Competition in 2023"
According to immigration experts, the H-1B cap lottery for 2023 is expected to be the worst in history. This is due to several reasons, including the record number of registrations in previous years and the high demand for H-1B visas. With an estimated 500,000 registrations for only 85,000 new H-1B visa petition approvals, the competition will be intense.
One of the reasons behind this surge in registrations is the electronic registration system introduced in 2020. Although it was intended to simplify the process for employers, it has led to a lot of speculative filing, resulting in a significant increase in the number of filings. This has made it more challenging for applicants to secure an H-1B visa.
The US job market remains robust, with 1.7 jobs for every job seeker, making it an attractive option for job seekers. Consulting companies are one of the easiest ways to get into the job market, and the demand for H-1B visas is expected to spike further.
Another factor is the high-profile tech layoffs, which have made it even more difficult for F-1 students to secure an H-1B visa. Even if they are already working at top tech companies like Amazon or Twitter, their chances of getting chosen in the lottery are bleak.
The slow PERM labor certification process is also adding to the pressure for H-1B sponsorship. While some employers are willing to sponsor their non-India/China graduates, the process is slow and may not be completed in time. As a result, many candidates will have to rely on the H-1B lottery.