U.S. Multinationals Hiring At Much Faster Rate Overseas: Report

By:  Alexander Eichler

U.S. multinationals are hiring. They're just doing a lot of it overseas these days.

Multinational firms based in the United States expanded their workforces 15 times faster outside the U.S. than they did at home in 2010, according to Commerce Department data released Wednesday. To be specific, these firms increased their payrolls by 0.1 percent at home, and by 1.5 percent overseas.

Yet in overall numbers, rather than percentage growth, these multinationals remain heavily invested in U.S. labor. As of 2010, the companies in question employed 23 million U.S. workers, and 11 million workers abroad, according to the report.

As The Wall Street Journal notes, initial Commerce Department figures are rarely set in stone -- they tend to tick up and down as the data gets revised and refined. Still, the numbers are in line with an ongoing trend, one that U.S. workers or would-be workers may find disquieting: multinational job growth appears to be booming abroad, while still struggling at home.

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