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U.S. multinational companies created three jobs overseas for every job they cut in the U.S. between 1999 and 2010.
US-based multinational companies eliminated1 million jobs from the US workforce between 1999 and 2010 while adding 3.1 million in other countries. If those companies had kept their domestic hires working instead of laying them off, the US unemployment rate in 2010 would have been 9.0 percent instead of the actual 9.6 percent.
More details in today’s infographic. Check it out, then weigh in down below. What corporate behavior do you favor?
: Federal Reserve Bank of Boston: “Outsourcing Jobs Overseas: A Cause for Concern?” More
: George Washington University: “The global agglomeration of multinational firms” More
: Reshoring Initiative: “Bringing Manufacturing Back Home” More
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