I think there are a lot of factors - the recession, the econmic hit from the WTC hits, fallout in the airlines and tourism, the corporate scandals - WCOM, Global Crossing, Enron, the stock market bust - hurting the financial sector, the .COM collapse, - all of thses things put americans out of work. With the falsified profits and startups not making money, the US was OVER-EMPLOYED for several years. Despite this, the econmy is rebounding and we are absorbing all of those job losses and over-employment
That said, the outsoucing trend has just begun, and the US has a HUGE social welfare system to support. When the boomers satrt to retire and there's two workers for every old ass-sitter, we will really see the pinch. Higher taxes and higher socialism will only drive more jobs overseas. Kerry's speech today about not changing social security and expanding Medicare is a recipe for ecnomic disaster, and it's clear, also from today, that W doesn't really have an answer either.