U.S Jobs are Hiring, Just Not in the U.S (BLOG)
The survey showing many American corporations hiring overseas even as unemployment stays at post-Depression highs at home confirms what I've been hearing from readers for some time. They've written that their companies are indeed hiring, but not here. The reasons for the dissonance are complex, but the excuse that overseas markets are recovering while the United States languishes won't provide much comfort. Once upon a time, major companies here were export giants with factories in America. Thus, stronger demand overseas would have meant jobs for Americans. This helped sustain a consensus that trade was a good thing for America. Since the 1980s, more American corporations have moved operations offshore. This has given them closer access to emerging markets and the benefits of much cheaper labor. But many nations, especially China, have demanded that foreign companies set up shop there as the price of admission to the market. Profits still flow back home, but not as many j...