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With jobs czar under fire, new data confirm offshoring trend

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posted on Apr, 20 2011 @ 12:43 AM

In January, the White House appointed Jeff Immelt (pictured), the CEO of GE, as its "jobs czar," charged with finding solutions to America's unemployment crisis. Three months later, despite some positive signs, employment rates have barely budged, Americans are more pessimistic about the economy than they've been in a while--and Immelt is under fire amid news that GE reportedly paid no taxes this year.

And some new jobs data may not help things. The Wall Street Journal reports (sub. req.) that during the last decade U.S. multinationals reduced their domestic workforce by 2.9 million, according to Commerce Department figures. During the same period, those same companies increased their overseas workforce by 2.4 million. (Here's a chart that nicely lays it out.) As recently as the 1990s, things were different: Multinationals were adding jobs both domestically and overseas.

Worse, Immelt's own company may be a case study for the shift. As we've reported, the number of workers employed by GE in the United States fell from around 162,000 in 2000 to 134,000 in 2009.

The article links to a chart, but its some multimedia picture so I dont know how to put it on here.

Didnt GE pay no taxes or something? And the CEO of the company was hired in January as Obamas jobs czar? Plus GE sent about 28 thousand jobs overseas.

What were the requirments to get this czar position again? Sending American jobs away seems to be one. Paying no taxes seems to be another.

How exactly is this supposed to help us (us as in middle/low class)?

posted on Apr, 20 2011 @ 01:00 AM
Yep, and GE also made some of the global patty meltdown reactors currently "doing their thing" in Japan right now.

There were some pretty jokes concerning this guy's name. (Immelt? Get it?

posted on Apr, 20 2011 @ 01:14 AM
Heres a few more links but they basically say the same thing as the OP

reply to post by notsofunnyguy

There were some pretty jokes concerning this guy's name. (Immelt? Get it? )

Ha! What are the odds of that?

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