b'IMMIGRATIONAMERICAS LOSS, CANADAS GAIN?By Matthew BradfordImmigration restrictions in the U.S. push companiesto move their foreign talent elsewhereespecially CanadaT ighter immigration policies south of the border areMore recently, however, that number has dropped to around 15 sending U.S. employers in search of alternative destina- per cent, which has been characterized as disastrous for busi-tions for their foreign workers, and it looks like Canada isnesses that rely on foreign talent. "Year by year, the percentage their destination of choice. This begs the question: Willof people who can get a spot is shrinking, and this year, that this have a major impact on our country, and if so, whatnumber shrank to almost catastrophic numbers," Kim reports. exactly are the long and short-term implications? "Some companies that were expecting 45 per cent of their According to Jack Kim, partner at Fragomen, the impact willemployees to be selected now only have 15 per cent. As a result, definitely be felt. The U.S. immigration apparatus has anthey\'re left waiting to see if there will be additional lottery selec-immense impact on Canada, he points out, adding that much oftions down the road and trying to figure out their options."what were recently seeing is tied to the sharp drop in approvalsSimultaneously, while the H-1B visa cap is coming down, for the H-1B visa. As a result, companies are having a hard timedemand for the specialized visa is climbing. "The demand for bringing in the foreign talent that they need.H-1B visas is enormous," says Melanie Bradshaw, partner with It is through the H-1B visa that employers can seek temporaryEY Law LLP. "This year, there were over 780,000 registra-professional positions for foreign workers who possess a bodytions for only 85,000 available visas for the upcoming fiscal of highly specialized knowledge and have a bachelors degreeyear starting in October of 2023. We have selection rates for or equivalent in their field. New recipients of the H-1B visa arecompanies that have dropped down to 10 to 15 per cent of the determined through an annual lottery, and for years companiescandidates that they wanted to employ in the H-1B status. So could expect to see up to 45 per cent of their nominees selectedthey\'ve identified talent that they want to employ in the U.S., but for the designation.cannot do so." 22PERSPECTIVES Summer 2023'