A master-of-the-obvious headline from the WSJ, nonetheless, the statistics are interesting (click link to read story). Here are some of the more interesting stats:
- The companies cut their work forces in the U.S. by 2.9 million during the 2000s while increasing employment overseas by 2.4 million
- In the 1990s jobs were added everywhere: 4.4 million in the U.S. and 2.7 million abroad
- in 2009 the companies cut 1.2 million, or 5.3%, of their workers in the U.S. and 100,000, or 1.5%, of those abroad
Competitive forces are not in a state of equilibrium as jobs continue to flow overseas.
-Billy Ray Valentine, Capricorn