Wednesday, September 15, 2010

Stat of day

From a Tax Analyst blog

"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 percent."

"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 percent."

This data is a bit old and it doesn't include much of the Great Recession, but it's clear that US companies did create jobs over the past decade, just not US jobs.

I suspect that this trend has accelerated over the past 2 years based on the number of stories I've read about HP, IBM and Microsoft expanding in Asia while they cut jobs domestically.


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