Job Market Booming Overseas For Many American Companies

[kentuck]

<snip>
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.

<snip>
A key factor behind this runaway international growth is the rise of the middle class in these emerging countries. By 2015, for the first time, the number of consumers in Asia's middle class will equal those in Europe and North America combined.

http://www.huffingtonpost.com/2010/12/28/job-market-booming-overseas_n_801839.html

[OHdem10]

1. Poorly Managed Globalization and Trade Policy. Countries

who looked out for their own interests and the good of
their country seem to be doing ok.

[daa]

2. Oh its working just the way they planned it nt

[avaistheone1]

3. Indeed.

[Hello_Kitty]

4. You're just a xenophobe who wants to blame all your problems on furriners

Really, if you lazy Americans would just stop being so lazy and greedy the poor dear corporations might quit sending your jobs to hard working humble people in other countries who will do them for 80 cents a week.

:sarcasm: obvs