H1B's are a invaluable part of our communities and America's immense capital and soft power. However there is also a ~7% unemployment rate of new CS/CE grads. (Not including underemployment). This is after tech firms begging schools to reallocate vast amounts of public money into teeing up young tech employees. With the vast availability of a global workforce, there is little incentive to train junior workers.
Of course much of this could be solved by narrowing the gap between the lowest earnings and highest earnings workers so that the tech career path wasn't so high of stakes. Anybody working should have the opportunity to launch into a dignified adult life. There must be a conversation ultimately about where the vast profits of tech firms should sit within our economy.