The Depository Trust And Clearing Corporation filed 217 labor condition applications (LCAs) for H-1B visas and 27 labor certifications (LCs) for green cards during fiscal years 2022 - 2024. The Depository Trust And Clearing was ranked number 877 among all visa sponsors. Additionally, 2 LCAs and 4 LCs were denied or withdrawn during the same period.
Before The Depository Trust And Clearing can hire foreign workers, whether permanently or temporarily, it must submit labor certifications to the Department of Labor (DOL). These certifications confirm compliance with wage requirements for the specified job locations.The reports below summarize Labor Condition Applications (LCA) for H-1B visas and Labor Certifications (LC) for green cards filed by The Depository Trust And Clearing. This data represents only the number of applications submitted and does not guarantee visa approvals or worker hires.
The LCA data includes applications for various purposes: new employment, continuation or changes to previously approved employment, new concurrent employment, changes in employer, and amended petitions. Typically, only LCAs for new employment require an H-1B visa cap if the employer is not cap-exempt.For example, The Depository Trust And Clearing submitted 244 LCAs and LCs during fiscal years 2022 - 2024. However, this figure does not necessarily reflect the number of foreign workers hired, as visa applications can be denied. Additionally, employees renewing or transferring H-1B visas or changing work locations may need to file new LCAs.
The DOL generally certifies more than three times the number of foreign worker requests compared to the H-1B visas issued by USCIS. Therefore, there is no direct correlation between the number of workers certified by the DOL and the H-1B visas issued by the United States Citizenship and Immigration Services (USCIS).