US Jobs Continue to Flow Offshore

October 12, 2010 at 1:11 pm Leave a comment

Though some American firms are bringing overseas work back home, evidence is growing that companies are moving more jobs than ever to China and other countries — a trend that could exacerbate efforts to bring down the nation’s stubbornly high unemployment rate.

One sign of increased offshoring is the rising number of applications for federal Trade Adjustment Assistance, which usually goes to factory workers who lost their jobs because their work was sent overseas or was undercut by cheaper imports. For the six months that ended Sept. 30, workers at about 1,200 offices and plants nationwide were approved for federal Trade Adjustment Assistance. That’s about 20% more approvals than in the same six-month period last year, according to the U.S. Labor Department. In addition, the most recent Commerce Department data show that employment at the foreign subsidiaries and affiliates of U.S. multinational firms grew by 729,000 in two years, to 11.9 million in 2008 from 2006. Over that same period, domestic employment by such firms slipped by 500,000 jobs, to 21.1 million. Read the whole story here.

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Entry filed under: Offshore Outsourcing, Onshoring. Tags: , , , , .

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