-----Original Message----- From: Portside Moderator [mailto:[email protected]] Sent: Tuesday, December 28, 2010 7:16 PM To: [email protected] Subject: [SPAM] Where Are The Jobs? For Many Companies, Overseas
Where Are The Jobs? For Many Companies, Overseas Associated Press December 28, 2010 http://www.npr.org/templates/story/story.php?storyId=132396866 Corporate profits are up. Stock prices are up. So why isn't anyone hiring? Actually, many American companies are - just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat. More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically. The trend helps explain why unemployment remains high in the United States, edging up to 9.8 percent last month, even though companies are performing well: All but 4 percent of the top 500 U.S. corporations reported profits this year, and the stock market is close to its highest point since the 2008 financial meltdown. But the jobs are going elsewhere. The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute's senior international economist. "There's a huge difference between what is good for American companies versus what is good for the American economy," says Scott. To read more, go to http://www.npr.org/templates/story/story.php?storyId=132396866 ___________________________________________ Portside aims to provide material of interest to people on the left that will help them to interpret the world and to change it. Submit via email: [email protected] Submit via the Web: http://portside.org/submittous3 Frequently asked questions: http://portside.org/faq Sub/Unsub: http://portside.org/subscribe-and-unsubscribe Search Portside archives: http://portside.org/archive Contribute to Portside: https://portside.org/donate !DSPAM:2676,4d1aae0d308682098317923! _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework
