Press Esc to close
Tuesday 27 January 2015
News updated at 10:58 AM IST
Weather
Max: 26°C
Min : 18°C
In Bengaluru
Sunny day

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
India's BSF 'Daredevils' motorcycle riders perform stunts as they take part during Republic Day...

India's BSF 'Daredevils' motorcycle riders perform stunts as they take part during Republic Day...

Make in India tableau on display during the 66th Republic Day parade at Rajpath...

Make in India tableau on display during the 66th Republic Day parade at Rajpath...

Prime Minister Narendra Modi paying homage at Amar Jawan Jyoti during the 66th Republic Day...

Prime Minister Narendra Modi paying homage at Amar Jawan Jyoti during the 66th Republic Day...

Pranab Mukherjee with Obama and Modi during an At-Home reception...

Pranab Mukherjee with Obama and Modi during an At-Home reception...

BSF officials perform during the 66th Republic Day Celebration at Attari Border in Amritsar...

BSF officials perform during the 66th Republic Day Celebration at Attari Border in Amritsar...

Illuminated Raisina Hill on the occasion of Republic Day in New Delhi...

Illuminated Raisina Hill on the occasion of Republic Day in New Delhi...

Amit Shah, Sonia Gandhi, Venkaiah Naidu and others using umbrellas as it rains...

Amit Shah, Sonia Gandhi, Venkaiah Naidu and others using umbrellas as it rains...

Mechanised columns on display during the 66th Republic Day parade at Rajpath...

Mechanised columns on display during the 66th Republic Day parade at Rajpath...

A view shows Indian Army soldiers marching past the India Gate during the Republic Day...

A view shows Indian Army soldiers marching past the India Gate during the Republic Day...

Navy's women contingent marches during the 66th Republic Day Celebration...

Navy's women contingent marches during the 66th Republic Day Celebration...

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