COVID-19 has caused major changes to work, travel, and learning—and the U.S. biotechnology sector has not been immune to these changes, we found in a new exclusive.
Many jobs in the U.S. held by foreign workers are unfulfilled, in large part because of COVID-19 and a series of restrictions issued on visa holders in June 2020.
But foreign-born workers and innovators are key to the U.S. economy, and particularly the biotech sector. A few stats to know:
International students are returning to the U.S.—but more are needed. Foreign student enrollment has dropped by nearly 20% and resulted in $9.5 billion in lost revenue.
These students are essential to STEM degree enrollment, with 22% of STEM degrees awarded to foreign students, including 54% of master’s degrees and 44% of doctorate degrees. Many of these students go on to work in the U.S. biotechnology sector.
Anti-Asian sentiment and visa bans on Chinese STEM students have taken a toll.70% of all international students in the United States are from Asian countries, and 16% are from China—but a visa ban on certain Chinese STEM grad students remains in place.
Read: Why biotech must confront the epidemic of hate against AAPI communities
So, now, many of these international students are deciding to study in their home countries—“a blow to U.S. competitiveness,” says NPR.
Joe’s World: We at BIO believe that the biotechnology sector is at its most successful when opportunities for innovation know no borders and therefore are not limited by visa policies which disincentivize research and collaboration. – Joe Damond, BIO’s Deputy Chief Policy Officer and Executive Vice President of International Affairs
Read the whole thing.
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