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Big U.S. Firms Moving Jobs Out of U.S. April 20, 2011

Posted by Michael in Economics.
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Since Obama took over, the trend has continued unabated.

Interactive graph here from the Wall Street Journal.

Here’s the gist of it:

The Wall Street Journal reports (sub. req.) that during the last decade U.S. multinationals reduced their domestic workforce by 2.9 million, according to Commerce Department figures. During the same period, those same companies increased their overseas workforce by 2.4 million. As recently as the 1990s, things were different: Multinationals were adding jobs both domestically and overseas.

, . . .

U.S. multinationals are a crucial player in the economy. They employ about 20 percent of all American workers, and, according to the McKinsey Global Institute, account for 23 percent of the country’s private-sector output. Since they’re more exposed to global trends, they often point the way toward where the economy is going.

With jobs czar under fire, new data confirm offshoring trend

Comments»

1. Mitchell - April 20, 2011

Obviously the solution is to tax them more to punish them for this behavior.

2. skinbad - April 20, 2011

Beatings will continue until morale improves.

3. lauraw - April 20, 2011

The remedy which will correct the problem of successful businesses leaving the US is to put lead boots on those who remain.

4. MCPO Airdale - April 20, 2011

The 6th highest corporate taxes in the world and they do this?! What could they be thinking?!

5. MJ - April 20, 2011

We simply pay China and India to change their name to the USA. Then technically we’re GAINING jobs.


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