American Jobs Shipped Overseas

U.S.-based multinational corporations have been hiring overseas while cutting jobs in this country. The companies that employ one-fifth of the U.S. workforce cut  U.S. payrolls by 2.9 million during the 2000s while increasing employment overseas by 2.4 million, according to new data from the U.S. Commerce Department. The American multinationals employed 21 million people in the U.S. in 2009 and 10.3 million elsewhere. The number of foreign workers included a growing number of highly-skilled workers. It wasn’t always that way. In the 1990s, the same big firms hired 4.4 million workers in the U.S. and 2.7 million abroad. To read the article in The Wall Street Journal, click here.