The job creation that wasn’t
Republicans and their corporate masters keep telling us we need to give huge tax breaks to corporations because they’re the ones who create jobs.
But a recent article by David Wessel of The Wall Street Journal provided startling evidence of the impact of globalization. His analysis of data from the Commerce Department indicates that major multinational corporations cut their employment in the United States by 2.9 million during the 2000s while increasing employment overseas by 2.4 million.
This is a big change from the 1990s, when those corporations added 4.4 million jobs in the United States and 2.7 million abroad.
Remember that next time you’re told that your sacrifice is necessary so that corporations will use their giant tax breaks to create jobs here at home. Or when they try to blame unemployment on unemployed workers.
Tags: Jobs, unemployment
Don’t blame globalism for the job drain, the employment-to-population rate in germany remains stubbornly constant at 65.5% and basically our economy is not different from yours.
Just consider two factors:
(1) low demand, as the private financial future is unpredictable – especially when one of the two big parties try to dismantly any kind of social safety.
(2) a low blue collar/white collar profile, to many people are working in services and consulting (and banking of course). US labor market relies on selling a potato 5 times and everybody want to make a fortune that way.
Your problem is Reaganomics, and the faint will and small scope of policies to abondon it.
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