Press Esc to close
Wednesday 01 June 2016
News updated at 10:53 AM IST
Weather
Max: 31°C
Min : 22.2°C
In Bengaluru
Generally cloudy

US multinational companies hiring abroad

Last updated: 19 April, 2011
Washington, Apr 19, (PTI):

Major American multinational companies which employ a fifth of all US workers are hiring people overseas, a US daily has said, adding that this report would sharpen the debate over globalization's effects on the country's economy.

New data from the US Department of Commerce have revealed that these American companies cut their work forces in the US by 2.9 million during the 2000s while increasing the employment overseas by 2.4 million, 'The Wall Street Journal' reported.

"That's a big switch from the 1990s, when they added jobs everywhere: 4.4 million in the US and 2.7 million abroad," it said adding that in all, US multinationals employed 21.1 million people at home in 2009 and 10.3 million elsewhere, including increasing numbers of higher-skilled foreign workers.

"The data also underscore the vulnerability of the US economy, particularly at a time when unemployment is high and wages aren't rising. Jobs at multinationals tend to pay above-average wages and, for decades, sustained the American middle class," the report said.
Matthew Slaughter, an economist, who served as an adviser to former president George W Bush has termed it as a worrying sign.

"It's definitely something to worry about," he was quoted as saying by the paper. According to the Commerce Department report in 2009, the companies cut 1.2 million, or 5.3 per cent, of their workers in the US and 100,000, or 1.5 per cent, of those abroad.


Go to Top

Photo Gallery
Biking Queens Yugma Desai, Sarika Mehta, Khyati N. Desai and Durriya M. Tapiya...

Biking Queens Yugma Desai, Sarika Mehta, Khyati N. Desai and Durriya M. Tapiya...

Camels with sign boards of BJP President Amit Shah during Sardar Patel Kisan Maha Sammelan...

Camels with sign boards of BJP President Amit Shah during Sardar Patel Kisan Maha Sammelan...

Restoration work in progress after an empty coach derailed off a slow track between Lower Parel...

Restoration work in progress after an empty coach derailed off a slow track between Lower Parel...

People dressed up as famous personalities taking part in the 'Carnival rally' to mark World No...

People dressed up as famous personalities taking part in the 'Carnival rally' to mark World No...

Police personal pay a final tribute to mortal remains of De Javaregowda, at Kuvempu Vidyavardhaka..

Police personal pay a final tribute to mortal remains of De Javaregowda, at Kuvempu Vidyavardhaka..

Couples embrace along the shores of the Arabian Sea in Mumbai, India ...

Couples embrace along the shores of the Arabian Sea in Mumbai, India ...

Children wear masks during an awareness campaign on 'World No Tobacco' day in Kolkata...

Children wear masks during an awareness campaign on 'World No Tobacco' day in Kolkata...

A view of Jawaharlal Nehru Planetarium in Bengaluru on Tuesday...

A view of Jawaharlal Nehru Planetarium in Bengaluru on Tuesday...

Bollywood actress Huma Qureshi performs at the CEAT Cricket Rating awards night in Mumbai...

Bollywood actress Huma Qureshi performs at the CEAT Cricket Rating awards night in Mumbai...

Bollywood actress Jacqueline Fernandez with Malaika Arora Khan on the sets of a TV show...

Bollywood actress Jacqueline Fernandez with Malaika Arora Khan on the sets of a TV show...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523