Despite the fact that some firms are returning jobs to the United States, companies are continuing a trend of sending or creating work overseas, the Los Angeles Times
reported after researching federal data. The newspaper found that 20 percent more U.S. workers — employees in 1,200 offices or factories — were applying for a federal program, the Trade Adjustment Assistance, in the six months ending Sept. 30 as compared with the same period last year.
That help usually goes to factory workers who lose their jobs to their companies outsourcing overseas or because their work was undercut by cheaper labor elsewhere.
Data obtained from the U.S. Commerce Department also point to an outflow of jobs. The most recent statistics, from 2006 to 2008, show employment at foreign subsidiaries and affiliates of U.S. multinational firms grew by 729,000 in two years to 11.9 million. In contrast, the same firms had 500,000 fewer jobs in the United States or 21.1 million.
“Most companies see the next phase or era of growth as global,’’ said John Challenger, chief executive of a outplacement and consulting firm. “That will still create jobs here, just not on the scale when they were focusing on growth in the U.S.’’
© 2013 Newsmax. All rights reserved.