With 96 percent of the top 500 American corporations turning profits this year and stock prices soaring to the highest levels since the recession began, you’d think you’d start to see a dent in that near double-digit unemployment rate. But that’s not so, partially because companies are boosting their bottom lines by moving toward outsourcing.
The AP reports corporate giants such as Caterpillar and UPS are creating more jobs beyond American borders than domestically. Both companies are seeing foreign sales growth rates double domestic increases. The AP cites a Washington think tank that found 1.4 of the 2.4 million jobs created by American companies this year are located overseas.
Has your employer outsourced new jobs to foreign markets this year?
Many U.S. companies are hiring … overseas [The Associated Press via MSNBC]