With unemployment at 10% and prospects for finding work bleak, foreign-born professionals who came to the United States in search of better job opportunities and prosperity are now retreating.
Foreign-based companies, particularly in Asia, are using the employment picture in the U.S. as a means to lure former residents home. This comes as a welcome respite for professionals who've experienced layoffs, underemployment and visa issues.
Vivek Wadhwa, a senior research associate at Harvard Law School who has studied these trends, says frustrations about the lack of advancement in the U.S., where salary and promotion freezes have become the norm, are a significant factor in foreign-born professionals' heading home. (more)