Posted on 10/16/2004 2:47:59 PM PDT by Willie Green
For education and discussion only. Not for commercial use.
Washington, October 16 -- The United States will lose more than 400,000 jobs this year to India, Mexico, China, and other Asian nations as multinational corporations restructure operations and shift production overseas, according to a study.
The number of jobs lost will be around double those three years ago, according to the study by Cornell University and the University of Massachusetts for the US-China Economic and Security Review Commission.
The study came amid heated debate ahead of the November 2 presidential elections on outsourcing of jobs to India, China and other developing economies and its adverse impacts on employment at home.
White House aspirant Senator John Kerry has vowed to plug tax loopholes to discourage companies from moving their operations abroad to check unemployment, if he unseats George Bush.
The study released on Friday, projected that nearly 100,000 jobs would move to China in 2004 based on extrapolating data collected between January and March 2004.
"These data suggest that in 2004 as many as 406,000 jobs will be shifted from the US to other countries compared to 204,000 jobs in 2001," of which nearly a quarter will go to China, it said.
Production shifts with consequent employment loss had spread across the US economy and now affect sophisticated manufacturing industries, services, and information technology.
ping
It's not easy being Green.
Will Kerry keep jobs here that involve industry that emits CO2? Or will he send those to China, since Kyoto doesn't include them?
Create 6 million jobs instantly - expell the illegals - they have to be working somewhere!
I guess this means that the "Hindustan Times" is a Kerry foe? Not that many foreign papers don't prefer Kerry, you know.
NO bull, no bias, no pressure.
Maybe this might be one of the reasons why U.S. is losing jobs. Caught sight of this article the other day.
http://smh.com.au/articles/2004/10/14/1097607335293.html
Google founders on hiring trip to India
October 14, 2004 - 10:04AM
"Google Inc founders Larry Page and Sergey Brin have said that some new features on the world's top search engine and other services will come from its research centre in the southern Indian city of Bangalore, where they are on a hiring spree." (More)
The question is... how can this trend realistically be limited or reversed without cutting off trade with 3rd world countries(which would send prices skyrocketing)
You're still living back in the '90s.
No such "correction" is necessary in today's economy.
Since Bush took office, Direct Foreign Investment in the United States has plummetted more than 80%.
Bush's policies have only made the United States a more hostile market for business investment.
Link doesn't work. Is the story legit?
I'm inclined to agree with you... but the virtual end of US manufacturing will inevitably lead to a job crisis in my estimation. An economy can not last long that depends exclusively on services, and it will not create enough jobs to keep up with population.
The question is... how can we reverse the decline of Industry in the US without sending prices skyrocketing and cutting off sales to other markets.
*
U.S. subsidiaries of foreign companies employ 5.4 million Americans.
* U.S. subsidiaries support an annual payroll of $307 billion and pay, on average, 19.1% more than all U.S. companies.
*
U.S. subsidiaries heavily invest in the American manufacturing sector. 34% of the jobs at U.S. subsidiaries are in manufacturing -- more than double the proportion of manufacturing at all U.S. companies.
*
U.S. subsidiaries manufacture in America to export goods around the world -- accounting for over 20% of all U.S. exports.
* New foreign direct investment (FDI) in the U.S. totaled $82 billion in 2003, over twice the amount from the previous year.
* In 2003, U.S. subsidiaries reinvested $38.6 billion in their U.S. operations.
* U.S. Subsidiaries have spent $27.5 billion on U.S. research and development activities.
* For a list of recent expansions and investments in the United States by U.S. subsidiaries, click here.
We have the fastest growing economy in the world. Our growth this year's fiscal cycle is almost 5% while European Union growth was at 1%. Paul Harvey says the Bush economy FY2004 has unemployment rate at 5.4 % a few points lower than Clinton's figures in 1996. And Clinton wonks did not deal with 9-11; rather, Clinton and Co. set up 9-11 tragedy, Enron Adelphia SEC scandals, and the .Com bust. And who could forget George Soros destroying the Pacific Rim economies for his own enrichment.
Bush is the reason we're NOT IN A DEPRESSION. Only DNC operatives think we're in worst economy. Try trolling at the DU.
Pssst! Insourcing doesn't count under the protectionist paradigm. Let's keep it between you and me. You know they will never admit that insourcing must also be bad if they were to be intellctually consistent.
Oh, I forgot to mention that manufacturing retooling amounted to over 80% increase within this FY under the "Bush Depression" TROLL
Do we need to keep all the $2.00/hour jobs we can; is that it? Or maybe we should be paying $20.0/hour for jobs that can be done for $2.00/hour; is that it? Here's an idea! Let's create a million new jobs by subsidizing products for which there is no consumer demand anymore! Not that either? Or maybe we should just let free markets allocate supply and demand for capital and labor, and "magically" get 400,000 new jobs that actually involve wealth creation. Sheesh.
How is it that we've lost more than 400,000 jobs this year, but the total number of employed has gone up by almost 2 million since August of last year, and unemployment is down?
Of course the answer is the Mexicans take jobs native Americans don't want or feel don't pay enough. Now, my next question, how will you keep all those jobs from going overseas you are worrying about? If our businesses are not competitive, you can bet someone else in some foreign country will compete on price.
If we seal our trade both incoming and outgoing then perhaps you would be happy, but everything would not only cost more, but we would also have little or no exports. Since about 20% of our jobs are export related, unemployment would then soar regardless of no "outsourcing."
Why do some people want to pay $500 for a $60 DVD player? Or $500 for a 20 inch TV?
Two songs from They Might Be Giants' Flood presented for your listening pleasure while we await Willie Green's reply.
Minimum Wage http://music.barnesandnoble.com/search/product.asp?userid=In0fIlEATr&EAN=75596090728&ITM=5
Minimum wage (whip sound) YeeHah!
I don't know where you get your statistics,
but the Bureau of Labor Statistics establishment data show the following figures for Employees on nonfarm payrolls (in thousands, not seasonally adjusted):
|
|
Sept 2001 |
Sept 2002 |
Sept 2003 |
Sept 2004 |
| Total Private |
110815 | 109194 | 108820 | 110463 |
| Government |
21056 | 21365 | 21315 | 21453 |
Private sector employment is DOWN 352K for the period cited.
And Government employment is UP 397K over the same period.
Looks to me like Bush is making up for private sector losses by growing more Big Government.
But since Aug. of last year, it's up almost 2 million. Right after the tax cuts went into effect the economy took off.
The link works for me.
I don't know what your difficulty is.
Your original article citation says "..."These data suggest that in 2004 as many as 406,000 jobs will be shifted from the US to other countries compared to 204,000 jobs in 2001," of which nearly a quarter will go to China, it said.
Production shifts with consequent employment loss had spread across the US economy and now affect sophisticated manufacturing industries, services, and information technology."
All I can say is that I'm glad I'm a federal government employee!
With $1.6 Trillion deficit spending, it's a pretty anemic employment bounce, IMHO.
Do we have anything left that Dubya hasn't outsourced?
What would Kerry sell?
Thanks to Al Gore for passing NAFTA.
$425 billion. There were a lot of adversities to overcome. We could have made the deficit less. We also could have had unemployment of 10%, as Europe does.
Indians could do it faster and cheaper.
And the rest of us are just delighted about the millions, and millions, and millions, and millions, and millions, and millions, and millions, and millions, and millions, and millions, and millions of you who are.
Poundstone said:
"All I can say is that I'm glad I'm a federal government employee!"
I wonder how many of the new employment numbers are derived from the creation of Homeland Security?
For a "conservative republican" for "smaller gov't.", Dubya's actions seem quite contradictory i.e. creating an entirely new bureaucracy to solve the problems of existant grossly negligent, ill-functioning bureaucracies already in place...
I'm sorry, but IMHO the answer to 9-11 should have been a shakedown of the FBI, CIA & NSA et al. from top to bottom - firing deadwood acordingly - rather than spend billions & billions of dollars to create a nanny dept. to babysit people that obviously were asleep on the job.
Moreover, with all the problems facing our country the last thing we need is to add significant numbers of folks to the gov't. entitlement dole - and yes, I mean "gov't." jobs (trust me, half of the people in the gov't. do nothing but collect a paycheck).
You wanna see jobs created, get the gov't. off the backs of producing Americans, stop cutting deals with "special interests" putting jobs overseas & stop raising our taxes to pay for non-producing slackers. Not compassionate, but its the bitter pill that works & it's the CONSERVATIVE way...anyone remember that???
“Government is not the solution to our problem, government is the problem.” - The Gipper
You beat me to the post, I noticed the malignancy of his attitude as well.
In that regard, your taglineis quite apropos, "Never allow anyone who could only get a government job attempt to tell you how to run your life".
It reminds me of an adage I hold as a truth:
"There are two types of people in this world, those who just want to be left alone & those who can't leave them alone".
He just created another one yesterday: Bush signs anti-Semitism act
And they call it conservative :rollseyes:...I guess compared to that moron bostonian limosine-liberal Kerry Dubya is sort of conservative, but IMHO the whole body politic in American politics is WAY left of center.
That's why I don't vote, the bastages can't use me as an example that they have "the consent of the governed" to do the crap they do...
NAFTA! EEEAAAARRGH!
You're not thinking properly. All the jobs that are being created are being taken by illegals. Now do you get it?
I guess this means you're supporting Kerry, Willie?
What is truly amazing is that my customers are still hiring, with the illegals pulling double shifts. Illegals cannot move up the company ladder so all the Americans (lazy or hard-working) are promoted up.
The 90's economy was built on .com wet dreams and wild speculation. 2004 economy is more stable. Still, I worry about all the new entitlements promised and what the entitlements will do the future tax schedules (note my tagline).
I disagree with the whole premise of this thread.
what americans are going to live 20 to a house? or ten to an apartment, like these mexican illegals do?
china's economy is growing at about 3x the rate of ours. your 5% GDP growth figure isn't going to hold up, we will be lucky to hold 3% going into 2005. and if oil prices don't ease, and if the Fed can't be stopped from moving the funds rate to 4%, Bush's first big challenge in his second term will be to avoid a recession in 2005.
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