How many H-1B petitions made by employers classified under the Finance and Insurance industry were approved in Knox Times publication area during 2024?

In 2024, all H-1B petitions submitted by 21ST Mortgage Corporation, the only employer classified under the Finance and Insurance industry located across Knox Times publication area were approved, according to data provided by U.S. Citizenship and Immigration Services via the H-1B Employer Data Hub.

This represents an approval rate of 100%, which is higher than the average in Tennessee across all industries.

That year, the statewide average approval rate for H-1B petitions stood at 98.3%, slightly higher than 2023’s 97.3%. Across the publication area, employers across all industries submitted 229 petitions during the same period, with an approval rate of 98.7%.

For comparison, the U.S. reported an average approval rate of 98% in 2024.

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. 

While the Health Care and Social Assistance industry led the H-1B filings with 148 petitions, representing 64.6% of all submissions in Knox Times publication area during 2024, the next largest contributor was the Retail Trade industry, which accounted for 37 petitions and represented 16.2% of the total. Among petitions from employers in the Retail Trade industry, all were approved.

Compared to 2023, the Finance and Insurance sector saw a 300% increase in the number of H-1B petitions across Knox Times publication area 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.