Outsourcing Times

November 18, 2004

U.S. Outsourcing Accelerates

Outsourcing of jobs from the U.S. is accelerating. Last year, many groups including the U.S. Chamber of Commerce estimated that approximately 200,000 U.S. jobs per year are sent offshore. A new report by a bipartisan congressional commission reveals that 406,000 U.S. jobs would be outsourced in 2004. And this acceleration is expected to continue for years to come.

According to the International Herald Tribune:

Some economists cite growing numbers of U.S. jobs transplanted overseas as the main reason for slow employment growth during the current economy recovery. Another 400,000 jobs added to the total 1.8 million jobs created in the United States in 2004 would be "a big deal," Stephen Roach, chief economist at Morgan Stanley, said. But Shang-Jin Wei of the International Monetary Fund said that when a company employs people overseas, lower costs and high profits enable it to hire elsewhere in the organization.

Read more: Outsourcing of jobs is accelerating in U.S.

--
Did you enjoy this post?

November 18, 2004 in Unemployment | Permalink

Comments

The comments to this entry are closed.

« Health Care Providers Can Save by Outsourcing | Main | CTG Named TechX Best Outsourcing Solution Winner »