A small but key story for the US jobs market
Indian IT firm Wipro have said they expect to have more than 50% of their employees local in Q1, and particularly in the US.
The firm had been sending in workers from other countries to customer sites on temporary visas but they now want to employ more localised staff. One reason is the fear of tightening immigration and foreign worker rules in the States.
Wipro have invested heavily in the US with two new centres in California and Michigan. The Michigan centre hopes to pick up workers in the Detroit region for their engineering services to auto customers.
There's several plays here.
Trump's policies (or expected policies) are forcing a change of mind in hiring intentions
There's still plenty of investment in the US
Both those are positives for the US jobs market, and therefore, Fed hikes and USD
This might be just one view and a snapshot of one industry but it's a positive for the US, and no doubt something Trump would jump all over.
If he reads about this story in The Economic Times, then we'll probably get a tweet about it at some point.
