Posted by: CS | April 27, 2012

It’s The Off-shoring, Stupid!

Wall Street Journal, April 27, 2012: Thirty-five big U.S.-based multinational companies added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of those jobs were overseas, according to a Wall Street Journal analysis.

Those companies, which include Wal-Mart Stores Inc., International Paper Co., Honeywell International Inc. and United Parcel Service Inc., boosted their employment at home by 3.1%, or 113,000 jobs, between 2009 and 2011, the same rate of increase as the nation’s other employers. But they also added more than 333,000 jobs in their far-flung—and faster-growing— foreign operations. …

Wage convergence between the West and the rest still has a way to go.

Meantime:

One in two new US graduates jobless or underemployed

Spanish unemployment hits a new high of 24.5%.

The US Economy slows

Falling US home prices drag new buyers under water

Eurozone Retail Sales Plunge

Canadian employment withers

and …

But it would be as tedious as it would be easy to go on, and on, and on.

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