[CTC] U.S. Firms Add Jobs, but Mostly Overseas

[Arthur Stamoulis]

http://online.wsj.com/article/SB10001424052702303990604577367881972648906.html?mod=WSJ_WSJ_US_News_5

Updated April 27, 2012, 9:04 a.m. ET

U.S. Firms Add Jobs, but Mostly Overseas

BY SCOTT THURM

Thirty-five big U.S.-based multinational companies added jobs much  
faster than other U.S. employers in the past two years, but nearly  
three-fourths of those jobs were overseas, according to a Wall Street  
Journal analysis.

Those companies, which include Wal-Mart Stores Inc., International  
Paper Co., Honeywell International Inc. and United Parcel Service  
Inc., boosted their employment at home by 3.1%, or 113,000 jobs,  
between 2009 and 2011, the same rate of increase as the nation's other  
employers. But they also added more than 333,000 jobs in their far- 
flung—and faster-growing— foreign operations.

The companies included in the analysis were the largest of those ...



http://www.alternet.org/newsandviews/article/909551/outsourced%3A_american_corporations_create_more_jobs_overseas_than_at_home/



  6 COMMENTS
Outsourced: American Corporations Create More Jobs Overseas Than At Home
  With the nation’s unemployment rate still above eight percent,  
millions of Americans are looking for work, and the country’s biggest  
corporations are hiring. According to a new report from the Wall  
Street Journal, however, many of those corporations are adding jobs  
overseas at a faster pace than they are at home. Even worse, others  
are cutting their domestic workforces while adding jobs in other  
countries at a rapid pace:


Those companies, which include Wal-Mart Stores Inc., WMT +2.70%  
International Paper Co., Honeywell International Inc. and United  
Parcel Service Inc., boosted their employment at home by 3.1%, or  
113,000 jobs, between 2009 and 2011, the same rate of increase as the  
nation’s other employers. But they also added more than 333,000 jobs  
in their far-flung—and faster-growing— foreign operations.

The companies included in the analysis were the largest of those that  
disclose their U.S. and non-U.S. employment in annual securities  
filings. All of them have at least 50,000 employees. Collectively,  
they employed roughly 6.4 million workers world-wide last year, up  
7.7% from two years earlier. Over the same period, the total number of  
U.S. jobs increased 3.1%, according to the Labor Department.


Many of the companies are adding jobs in the U.S. but adding even more  
overseas — reversing a trend from a decade ago in which they were  
outsourcing American jobs to other countries. But some companies, like  
Wal-Mart, have boosted overseas employment while maintaining flat job  
growth in the U.S., and others, like UPS, haveslashed jobs at home  
even while adding them in other countries:


A similar Wall Street Journal report last April found that America’s  
largest multinational corporations outsourced more than 2.4 million  
jobs over the last decade, even as they cut their overall workforces  
by 2.9 million.

President Obama has proposed a tax credit to encourage businesses to  
bring jobs from overseas back to the United States in order to relieve  
high unemployment and boost economic growth. Republicans and  
corporations, meanwhile, have blamed outsourcing on high taxes, even  
though corporations pay less in America than they would in most of the  
developed world.

By Travis Waldron | Sourced from Think Progress 
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