Many times, the companies are forced to say that their jobs need the degree, otherwise their existing visa employees would be at risk.
It's all optimized just for the sake of the bureaucracy, it has little to do with what the people or the economy needs.
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Certainly.
While there is the case certain positions require very specific skillsets, the default can safely assumed to be low cost indentured servitude arbitrage.
There are non-h1b pathways that allow for exceptional abilities, and papers clearance for national interest.
Agreed.
When the company has a crucial talent, the H1b pathway is too risky (lottery) and costly (time) to go through.
It's good enough for the steady stream of commodotized entry level desk jockeys for the large corporates, though.