FY2005 H-1B Cap Reached!!!

On the evening of October 1, 2004 - the first day of the 2005 fiscal year (FY2005) - U.S. Citizenship and Immigration Services (USCIS) published a Press Release: USCIS Announces New H-1B Procedures - Reaches Cap.

In the Press Release, USCIS announced that enough H-1B petitions have been received to meet the annual H-1B cap (65,000) for FY2005. Included in the 65,000 H-1B petitions allowed for the fiscal year are 6,800 set aside for the Free Trade Agreements between the U.S. and Chile and Singapore - effectively reducing the cap to 58,200.

After October 1, 2004, USCIS will not accept any new H-1B petitions that are subject to the FY2005 annual cap.

How come people claim that offshoring is causing job losses in US when H1 VISAS (employment visas used by high-tech immigrants) are getting completely booked one year in advance?