February 11, 2005
Outsourcing to India Not Major Factor in US Employment Declines
A recent report by consultancy firm McKinsey indicats that despite domestic concerns, outsourcing to India is not playing a significant role in US job losses. Pointing to the relatively small number of offshored jobs, McKinsey argued that the source of US jobloss was related more directly to the tech boom, and as a consequence recommended that no steps be taken to tighten trade restrictions. Keralanext.com Reports:
Terming the job loss due to outsourcing as ''a drop in the bucket'', McKinsey said a job shift of this size in the US is small compared with the 2.1 million service jobs created every year during the 1990s and minor compared even with the net annual job increase of about 3,27,000 from 2000 to 2003.
Read More: India, Outsourcing to India not causing job loss in US: McKinsey
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