Posted on 04/26/2012 10:52:20 PM PDT by Steelfish
April 26, 2012 U.S. Firms Add Jobs, but Mostly Overseas
BY SCOTT THURM
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.
The companies included in the analysis were the largest of those ...
(Excerpt) Read more at online.wsj.com ...
WSJ stubs really suck .)
The RNC’s busy catching up to the DNC in terms of being more liberal than ever.
Federal taxes on repatriated earnings are so massive, that it is economic suicide to bring money earned abroad back into United States.
The companies have no option other than to use the money to expand their businesses abroad.
Where do you think the should be?
But they also added more than 333,000 jobs in their far-flung—and faster-growing — foreign operations.
Makes perfect sense to me! Where there is growth in demand, there is a growth in employment! Or should the RNC take the stand that a company may not do well overseas when the ecomony at home sucks?
Don’t subscribe so can’t read the entire article - but IMO many of the comments are well worth reading.
Sounds like something the current administration might say to shrink the US jobless figure. There is no benefit to the USA to have companies based in the USA employ workers outside the USA when they could be employed here. Alexander Hamilton’s Report on Manufactures is still valid. Outsourcing undermines our national security.
Where there is growth in demand, there is a growth in employment
So the Walmart in Germany should employ a US Citizen in the US at the check out line - UPS should employ US Citizens for it's delivery personal in France, etc ...
Interesting concept ....
Read the article! It specifically mentions Walmart & UPS as well as Honeywell ...
ALL of them have operations in overseas markets and employ locals to do the work locally - this has no effect on the US market UNLESS those positions could have been done by someone in the US, i.e. a company moves it production to a foreign country.
You want to be pissed off because Walmart & co hired 300K overseas workers over a 2 year period to satisfy overseas requirements? Knock yourself out.
Are you also pissed off when BMW & Co hire Americans to sell cars in the US? Or when Deutsche Telekom hires Armericans to perform work in America?
International Companies hire workers internationally. When a specific regional market grows, the comapny hires more workers there to satisfy demand.
Thats Business 101 ...
Okay, so your bound and determined to be pissed. Fine.
Ever consider that Honeywell & Co also sell products and services overseas and that they need local workers to do that?
Call up Honeywell International’s homepage and check out what positions are open in the foreign markets before you get all bent out of shape about them hiring workers overseas.
Lastly, if you don’t like the fact that manufacturing jobs have been moving offshore for decades - maybe you should start campaigning for a level playing field (i.e. high tarifs on products & services coming from places like China) which would do a lot to stop that from happening ...
Just noting that the US economy does not suck uniformly -- according to the BLS, in March 2012 the unemployment rate among those with a Bachelor's degree and higher was 4.2%. Among Black or African-Americans, Both sexes, 16 to 19 years old, unemployment was 40.5%.
It's good that US companies are hiring overseas. Their overseas operations don't have an Obama to contend with, and he appears to have succeeded in his goal of creating a permanent US underclass. Have the Dems proposed legislation to punish US companies for operating successfully in countries that are not run by economic ignoramuses yet?
crickets.....
Nobody in DC is capable of finding a mirror ....and using it to discover the root of the problem
The data shows the drop in domestic hiring as a percent has fallen from 79% in 1989 to 67.7% in 2010.
The data also shows the drop in 2009 was 0% and in 2010 was 0.3%
Any way, it is very important to give these companies the Ryan tax break so the shift more of their hiring overseas.
LLS
He's the only US President that I know of whose strategy has been to formally codify laws and regulations that actually punish US companies for hiring lower skilled workers here in the US. Of course it's a brilliant strategy, because if they're unemployable, they're Democrats for life!
Ivy league lawyers, MBAs and PhDs should do fine in their guarded suburban enclaves. The core urban Democrat constituencies, less so. Will they ever realize it, or just stay in the pot of warm water as it boils?
sounds like a perfect setup for an Obama-Biden Vilify and Demonize Tour if I’ve ever heard one...
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