Monday, September 13, 2010
Martin A. Sullivan
(Tax Analysts) has published U.S. Multinationals Cut U.S. Jobs While Expanding Abroad
, 128 Tax Notes 1102 (Sept. 13, 2010):
It is only natural that U.S. companies have increased hiring overseas during the last decade. After all, the world economy has become increasingly integrated. There are huge overseas markets to be exploited. There are pools of low-cost labor to be tapped. So the steady upward trend shown in Figure 1 should come as no surprise. Between 1999 and 2008, employment by majority-owned foreign affiliates of U.S. parent corporations grew from 7.8 million jobs to 10.1 million. That's an increase of about 2.4 million jobs, or 30%.
Figure 2 shows that the number of U.S. employees of U.S. multinationals declined from 23 million to 21.1 million between 1999 and 2008. That's a decrease of about 1.9 million, or 8%. In 2008 the decline was 446,000.
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