America is in a global race for innovation advantage and policy makers around the world are enacting forward-thinking policies to make their nations more attractive for global investment. Unfortunately, instead of focusing on the reforms the U.S. needs to keep pace, some policymakers focus on blaming corporations for choosing to move jobs offshore or legally deferring foreign profits to reduce their tax burden. Blame is not a strategy. Shame is not a policy. Instead of berating U.S. companies for being unpatriotic, Congress would be better advised to put in place the comprehensive changes needed to make the U.S. economy more competitive.
The Real Story on Guestworkers in the High-skill U.S. Labor Market
Recently, the Economic Policy Institute issued a report claiming that there is no shortage of U.S. STEM workers and that increases in high-skill immigration are not needed and detrimental to the U.S. economy. In this report, ITIF presents a detailed rebuttal of the EPI analysis to provide a more accurate picture of the high skill labor market. We find that the EPI report's conclusions are simply not supported by the evidence. In fact, the U.S. does not produce enough STEM workers domestically, STEM wages and jobs have grown significantly over the last decade, and high-skill guestworkers are a complement, not a substitute, to American high-skill labor.