Some Jobs Return to US, But Many Still Head Overseas

Wednesday, 06 Oct 2010 04:16 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
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.

jobs, us, overseas, unemploymentThat 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.’’

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Instructor Death: 9-Year-Old Girl Said Uzi Was Too Much For Her

Tuesday, 02 Sep 2014 13:56 PM

A 9-year-old girl who accidentally killed an instructor with an Uzi at an Arizona shooting range said immediately after  . . .

Family: Joan Rivers on Life Support

Tuesday, 02 Sep 2014 13:45 PM

Joan Rivers' family is confirming that the comedian is on life support after going into cardiac arrest last week during  . . .

Report: Illinois Teachers Paid Well Despite Fiscal Woes

Tuesday, 02 Sep 2014 13:44 PM

Illinois has the lowest credit rating in the nation, but that has not prevented the state's Teachers' Retirement System  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved