Obama\u2019s immigration plan doesn\u2019t grant tech world\u2019s wishes

Research by economics Professor Giovanni Peri is cited in the San Francisco Chronicle.

Silicon Valley leaders have lobbied for years and spent millions of dollars trying to increase the number of high-skilled foreigners who can work in the U.S., but President Obama didn’t grant their top wish in the sweeping executive actions on immigration he announced Thursday.

A June UC Davis study found that capping the number of visas leads to a loss of jobs by U.S.-born workers. UC Davis economics Professor Giovanni Peri found that when the number of visas was capped in 2007 and 2008, it affected job growth in various U.S. regions. The tech-rich Bay Area was one of the hardest-hit larger metro areas, according to the study. H-1B visa denials during that period caused San Francisco to miss out on creating as many as 4,219 tech jobs for American-born workers.

Read more at SF Gate.