Where are the jobs? For many companies, overseas

[FreakinDJ]

Source: PALLAVI GOGOI, AP Business Write

Where are the jobs? For many companies, overseas

Corporate profits are up. Stock prices are up. So why isn't anyone hiring?

Actually, many American companies are — just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat.

More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically.

The trend helps explain why unemployment remains high in the United States, edging up to 9.8 percent last month, even though companies are performing well: All but 4 percent of the top 500 U.S. corporations reported profits this year, and the stock market is close to its highest point since the 2008 financial meltdown.

Read more: http://news.yahoo.com/s/ap/us_overseas_hiring

[HughBeaumont]

1. Wealthonomics.

Where the Creature Comforts of a Few Laughingly Nuke the Need of Millions.

Yeah, the eternal wage suppression, soaring cost of living, purchasing of both political parties and the media, and the rigged zero-sum game aren't what we call "ideal". But we run everything, so . . . well . . . fuck you.

I mean, really, what are you going to do? STOP us? You can't even come together with EACH OTHER! You're either blaming Obama or "big gubmint" (love that one, ALWAYS effective) or "Soshulism" (good one, as if we'd ever ALLOW that to happen) or high taxes or minorities for all of your problems while giving us a free pass!!! Awesome.

[kpete]

2. Many U.S. companies are hiring ...overseas-One reason why U.S. unemployment remains as high as it is

Source: MSNBC

Many U.S. companies are hiring ... overseas
One reason why U.S. unemployment remains as high as it is

Corporate profits are up. Stock prices are up. So why isn't anyone hiring?
Actually, many American companies are — just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat.

More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically.

The trend helps explain why unemployment remains high in the United States, edging up to 9.8 percent last month, even though companies are performing well: All but 4 percent of the top 500 U.S. corporations reported profits this year, and the stock market is close to its highest point since the 2008 financial meltdown.

But the jobs are going elsewhere. The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute's senior international economist.

Read more: http://www.msnbc.msn.com/id/40827123/ns/business-us_business/

[Jkid]

3. For a good reason

There is no minimum wage or the minimum wage in those countries are lower than the US state's minimum wage.

[Jackpine Radical]

4. …and that in turn is due to the fact that many of these countries

have corporate-friendly governments that suppress labor organization.

[FreakinDJ]

7. Not so true

Many of those countries require massive amounts of Kick Backs to corrupt government officials and in some cases even radical militants seeking to overthrow the corrupt government officials

Its a multiple of things that makes the profit incentive

No EPA
No Workman's Comp
No Worker's Rights
ect, ect ,ect, ...

[leveymg]

9. Not necessarily so. MNC operations and hiring have expanded in Germany and some EU

All of which have wages, social programs and labor protection standards at least as good as the US, and considerably higher.

The US market is being abandoned because our economic, financial and political systems are viewed as rotten and unreliable.

[whathehell]

12. Interesting......"..because our economic, financial and political systems are viewed as rotten

and unreliable".

As well as the fact, I imagine, that they'd HAVE TO PAY for HEALTH INSURANCE here that they do NOT in Europe.


We're getting screwed from every angle.

[FreakinDJ]

10. In Mexico they shoot labor organizers

Life Expectancy - about 2 weeks

[Jackpine Radical]

5. Double post. Delete.

[PSPS]

6. There's that plus all the new business activity outside the US

Package delivery and construction equipment kind of goes where the need is. All of our money is given to the banks and wall street to prop up their casino and bonus plan which only needs UPS to overnight the treasury checks and Caterpillar to hoist the pallets of freshly-minted currency into the mansion of the nearest "hedge fund manager." Foreign governments (like China) spend their money on public works projects like infrastructure.

[fasttense]

20. Then those corporations who do NOT pay a living wage should NOT

sell their crap here in the US. They have no right to sell their cheap crap here. Our markets are developed and maintained by Americans. If they want to sell their Chines, Indian, Taiwanese slave labor crap here, they should pay a surcharge for the cost of using our markets.

[grahamhgreen]

21. That is an evil reason, not a good one!

[WinkyDink]

8. My local (PA.) newspaper's Subscription/Delivery office is in the Phillippines.

[somone]

11. See, companies are hiring. Damn lazy people unwilling to row a boat to China

because there are plenty of jobs over there

[KansDem]

13. "...many American companies are — just maybe not in your town."

Not in our town--not in our country.

It never fails to amaze me how we could give tax-breaks to the wealthy--ostensibly to "invest" in America--only to have them take their swag overseas. And then we give them more tax breaks!

The US Congress is a wholly-owned subsidiary of BigCorp.

[The Stranger]

14. Class, the word for the day, is "Labor Arbitrage."

[Igel]

15. "Sales in international markets are growing."

How disturbing.

The proper response is to abandon the international markets unless we export Americans to work in them or we can make sure that Americans are pretty much the only ones involved in the manufacture or delivery of service.

(And actually using the emoticon here would be so redundant as to insult the intelligence.)

[Psephos]

16. Abandon international markets?

Wow.

[OhioChick]

17. Color me surprised n/t

[Odin2005]

18. Global Capitalism drives everything to the lowest common denominator.

It is a voracious beast that consumes all that is good and just.

[defendandprotect]

19. k/r