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For decades, pundits have argued about the values and dangers of offshoring. Recently, economist Alan S. Blinder weighed in with a paper examining the potential ramifications of the process. Dr ...
The number of jobs lost to offshoring is less than 1 percent of the total US labor market. [49] The total number of jobs lost to offshoring, both manufacturing and technical represent only 4 percent of the total jobs lost in the US. Major reasons for cutting jobs are from contract completion and downsizing. [50]
Offshoring, or the process of relocating jobs to countries where labor is cheaper, has exploded in recent years. This is largely due to three main factors: reduced labor costs, less restrictive ...
Donald Trump won the U.S. presidency four years ago, in part, by a promise to Midwest factory workers that he would stop companies like Schneider Electric SE from moving jobs out of the country.
CEOs are under pressure from their boards to maximize profits and are paid bonuses accordingly; one method of doing so is offshoring jobs or sourcing inputs in the lowest wage countries possible. Firms in low-cost labor countries actively lobby U.S. and European companies to offshore a variety of jobs or locate new jobs and facilities overseas ...
The decrease in jobs, according to many who oppose globalization, is the result of numerous rivals, particularly foreign ones. In general, domestic laborers and businesses have a considerably harder time thriving while overseas pricing continue to be lower and far more competitive.
Since the start of the recession, 8.8 million jobs have been lost, according to the Bureau of Labor Statistics. [10] In the U.S., jobs paying between $14 and $21 per hour made up about 60% those lost during the recession, but such mid-wage jobs have comprised only about 27% of jobs gained during the recovery through mid-2012.
The labor market has a demographics problem, a phenomenon which may be contributing to an imbalance between supply and demand of workers, despite recent headlines about layoffs.