You are hereThink Progress: Top "US" Corporations Outsourced More Than 2.4 Million American Jobs Over the Last Decade

Think Progress: Top "US" Corporations Outsourced More Than 2.4 Million American Jobs Over the Last Decade


April 19, 2011- A Washington Post/ABC News poll released this morning finds that 44 percent, a plurality, of Americans think the economy is getting worse, rather than staying the same or getting better. With unemployment hovering around 9.6 percent while economic inequality is at levels not seensince the Depression, many Americans feel as if the economy is leaving them behind.

The Wall Street Journal reports today that Corporate America certainly isn’t doing its part to help bring America out of its economic malaise. The paper surveyed employment data by some of the nation’s largest corporations — General Electric, Caterpillar, Microsoft, Wal-Mart, Chevron, Cisco, Intel, Stanley Works, Merck, United Technologies, and Oracle — and found that they cut their workforces by 2.9 million people over the last decade while hiring 2.4 million people overseas.

The paper notes that this is actually a sharp reversal from trends in the late 1990s, when these major companies were creating more jobs in the United States than overseas. Yet by 2001, things took a turn for the worse, and these corporations have been adding more jobs abroad than at home, as is illustrated here:

As you can see from the chart, the economic recession has had little impact on Corporate America’s patriotism. In fact, in 2009, representatives of many of the nation’s most powerful corporations attended the “2009 Strategic Outsourcing Conference” to talk about how to send American jobs overseas. Conference organizers polled the more than 70 senior executives who attended the conference about the behavior of their companies in response to the recession. The majority said their companies increased outsourcing in response to the downturn, with only 9 percent saying they terminated some outsourcing agreements.

FULL STORY HERE:

Partners

Backbone Campaign
ReclaimDemocracy.org
ProsperityAgenda.us
Liberty Tree
Democrats.com
Progressive Democrats of America
AfterDowningStreet
Peoples Email Network
Justice Through Music
ePluribusMedia
Locust Fork Journal
Berkeley Fellowship UU\'s Social Justice Committee
BuzzFlash
The Smirking Chimp
Progressive Democrats Sonoma County
BanksterUSA
Center for Media and Democracy
Chelsea Neighbors United
Atlanta Progressive News
Yes Men
No Nukes North
ProsecuteThemNow.com