High-skilled immigrants are essential for the U.S. economy, a new study confirms. A report published by the National Foundation for American Policy shows that companies owned by foreign-born individuals employ one in every 10 American workers, therefore sustaining employment for both native and immigrant workers. Moreover, immigrants are responsible for building 51 percent of the billion-dollar startups in the U.S., creating on average 760 jobs for each of these businesses. In addition to reducing unemployment, these companies also bring money to the national budget. For instance, in 2011, companies owned by immigrants generated $775 billion in revenue.
One of the reasons why immigrants are successful in their entrepreneurial actions is that they are hard-working students, focused predominantly on STEM fields. Several studies have indicated that a foreign-born student who follows a STEM coursework and remains in the U.S. after graduation to work in the field will create on average 2.62 jobs for American workers.
The study also found that between 2002 and 2012, only 2 percent of degrees earned by U.S. natives and green-card holders were in STEM field, in comparison to 23 percent earned by foreign scholars in the U.S.
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