SE Oakland News publication area records 160 H-1B petitions from employers classified under Finance and Insurance industry during 2024

Employers classified under the Finance and Insurance industry based within the SE Oakland News publication area, submitted 160 H-1B petitions during 2024, according to data provided by the U.S. Citizenship and Immigration Services via the H-1B Employer Data Hub. Of these, 159 were approved (99.4%), while one was denied (0.6%).

Employers are classified under industries based on their reported operations and may be involved in multiple industries.

The H-1B visa program allows U.S. employers to temporarily hire foreign workers in specialty occupations requiring specialized knowledge and at least a bachelor’s degree or equivalent. It is designed to address skill gaps in the U.S. workforce while ensuring wage standards to protect both U.S. and H-1B workers. Employers must certify that they will pay H-1B workers wages equal to or greater than those of similarly qualified U.S. employees or the prevailing local wage.

The average approval rate for H-1B petitions across the United States in 2024 stood at 98%, slightly higher than 2023’s 97.3%. Locally, employers across all industries located within the SE Oakland News publication area submitted 3,316 petitions during the same period, achieving an approval rate of 98.3%.

While the Professional, Scientific, and Technical Services industry led the H-1B filings with 2,439 petitions, representing 73.6% of all submissions in the SE Oakland News publication area during 2024, the next largest contributor was the Administrative and Support and Waste Management and Remediation Services industry, which accounted for 291 petitions and represented 8.8% of the total. Among petitions from employers in the Administrative and Support and Waste Management and Remediation Services industry, 96.9% were approved and 3.1% were denied.

The SE Oakland News publication area employers with the most petitions categorized under the Finance and Insurance sector during 2024 included United Wholesale Mortgage, LLC, which filed 90 petitions with an approval rate of 100%, Credit Acceptance Corporation with 35 petitions and an approval rate of 100%, and Flagstar Bank, NA, which filed 28 petitions with an approval rate of 96.4%.

Compared to 2023, the Finance and Insurance sector in the SE Oakland News publication area saw a 25% increase in the number of H-1B petitions during 2024.

The United States admits around 1 million legal immigrants annually, most of whom receive permanent residence (green cards) through family sponsorship or employment-based visas. In 2023, about 1.2 million immigrants were granted green cards, a return to pre-pandemic levels. Temporary visa programs, such as the H-1B for highly skilled workers and H-2A for seasonal agricultural workers, also play a critical role in filling workforce needs.

Public opinion on immigration varies, with 46% of Americans favoring maintaining current legal immigration levels, according to a 2024 Pew Research Center survey. Additionally, 42% believe that highly skilled workers, such as scientists, doctors, and programmers, should be prioritized for legal immigration, compared to 25% who prioritize workers filling labor shortages and 19% who emphasize family sponsorship. Despite this, family sponsorship remains the most common path to permanent residency, accounting for 63% of green cards issued in 2023.

The data in this article comes from the H-1B Employer Data Hub provided by the U.S. Citizenship and Immigration Services (USCIS). While USCIS strives for accuracy, manual data entry and errors on paper forms submitted by applicants or petitioners may result in discrepancies in employer names, tax IDs, locations, or other details.