Indeed they raised the wages, and yet supply didn't keep up, and that's the reason for H-1B.

Looking at discussions about the current dire state of the white-collar job market — with thousands of applications per job posting and many months of job hunting, even for individuals with over 10 years of experience — it's hard to argue that we're not currently oversupplied.

Perhaps it's time to reconsider the "supply" side of the equation and do something with H1B.

I agree that there is currently a problem in the job market. It would make sense to temporarily pause the H-1B program for candidates with only a bachelor's degree. It should still be open for those with masters and PhD degrees.

there is another option the companies can choose to use. Export the jobs.aka offshoring. Tons of companies do this now, not sure if its super productive, but it seems to be a viable alternative for companies to use/abuse. End result is the same. Lower job profiles/ lower salaries / lower job openings.

Raising wages is probably the last option on the checklist.