Another view on the subject...
I am an American Citizen, went to university in that great melting pot of California. Half Alaskan, Half Australian, now living in Ireland (hence the nickname...).
Let me tell you that protectionism exists everywhere. With a 4 year BScME degree and quite a bit of practical work experience, it took me over a year to even find a job here in Dublin. I was pumping gas for 7 months, and only got my current job because my boss didn't know how hard it would be to get me legal. Had to do some tricky paperwork, got turned away from most interviews as soon as they heard that I was a foreigner, and in the end had to take a trip to Florida for the weekend and pretend I was just arriving.
Now I am Engineering Supervisor at my company, and am working on buying into the company after only 4 years. Perseverence pays off, and you DO get paid what you are worth.
Opportunities exist, but sometimes you need to work for them.
Indian-American, if you want to go back to India, go ahead. You said you wanted a challenge, so why would you run away from it now?
Somebody mentioned that when the economy is low, automation goes down with it. Not always the case from my experience. We are in the business of building specialized 1-off machines for assembly and testing, and have found that many compaines here in Ireland that have traditionally been labor (or labour for some people...) intensive are now doing everything they can to automate in order to get rid of operators and improve efficiency. This means that they are willing to invest money in machines in order to save money in salaries. Good for me, bad for Joe Schmo.
Anyway, don't let one person's bad luck stop anyone from going anywhere.