"Jobs are more likely to be shipped overseas from Silicon Valley than any other region in the nation, placing the Bay Area's economic engine directly in the path of the global freight train known as offshoring.
Specifically, 1 in 6 jobs in Silicon Valley are at risk of being sent abroad, compared with only 1 in 10 positions nationwide, according to researchers at UC Berkeley. The economists estimate that 1 in 7 San Francisco jobs could be exported."
<snip>
"-- Oracle Corp. of Redwood Shores has more than doubled its staff in India since 2002; it now has 4,200 workers there.
-- PeopleSoft Inc. in Pleasanton recently said it will hire 1,000 additional people in India, tripling its headcount there, by the end of 2004.
-- Hewlett-Packard Co., founded in Palo Alto, has increased its staff in India to 8,000 as part of the company's cost-cutting strategy.
-- Cisco Systems Inc. of San Jose employs 600 workers in India.
Many other firms are following suit, although few companies are very open about it."
<snip>
"If workers who lose their jobs to offshoring stay in the same field, they probably can expect to earn less, Bardhan said. "Those wages are going to stagnate," he said.
At the same time, looking to other industries often leads to a smaller paycheck, too.
"When re-employment happens in another sector, that's when the earnings losses tend to be larger," said Lynn Karoly, an economist with Rand, a research concern that recently published a report on trends in employment.
Another study by the left-wing Economic Policy Institute shows that industries gaining jobs in the United States pay an average of 21 percent less than job-losing industries. In California, growing industries pay 40 percent less than those that are contracting."
-- William T Goodall Mail : [EMAIL PROTECTED] Web : http://www.wtgab.demon.co.uk Blog : http://radio.weblogs.com/0111221/
Beware of bugs in the above code; I have only proved it correct, not tried it. -- Donald E. Knuth
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