Stock market up, then down? Banks collapsing? Economy going into Recession? What Does it Mean for your Immigration Situation?

This post will offer some ideas - at a high level - about what the current economy means for U.S. immigration law and what foreign nationals can do to manage risks.

As of the date of this writing, at the start of the third full week of March 2023, the United States has a “strange” economy. The official, published unemployment rate remains very low, but we see news stories almost daily of high profile company layoffs.

Some people have attempted to explain this, but there is no clarity or consensus on what the future looks like. The gyrations in the stock market are a daily manifestation that people do not know if things are going well, or going poorly.

Many have speculated that the pandemic has changed things structurally for the job market and the economy and inflation. I find a lot of those arguments compelling.

Separately, and very recently, there have been a few high profile bank failures and there is concern that we are now in the middle of a possible wave of bank failures. I found this Frontline documentary eye-opening on the possible recession coming. The record use of food banks in Phoenix was definitely surprising to me.

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Meanwhile, foreign nationals in the United States, or those trying to get into the United States, are faced with the longstanding, cumbersome maze of U.S. immigration laws not well-suited for a normal economy. The U.S. immigration system seems particularly ill-suited for this strange economy.

This post (after the paywall) will offer some ideas on how foreign nationals can approach the current environment.

Here is what I will discuss:

1. Educate Yourself. Cast a wide net to gain information and insight.

2. Be Pro-Active.

3. Be Organized.

4. Be Flexible.

5. Consider Downside Risks (and the Unexpected) and How to Mitigate Them.

6. Have Humility.

7. Don’t Expect Much Help from Congress.

8. Play the Long Game.