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"Created 7.2 million new jobs," said President Obama. "Strongest job growth in over a decade."
Since 2008, the US has lost more than 5 million full-time jobs, but gained 3.1 million part-time jobs. In percentage terms, the number of part-time jobs has grown by nearly 14 percent since 2005.
"One of the things health reform was designed to do was to help not only the uninsured but also the under-insured," Obama said. "And there are a number of Americans, fewer than 5 percent of Americans, who've got cut-rate plans that don't offer real financial protection in the event of a serious illness or an accident.
Over the last 56 months – since Barack Obama became president in January 2009 --unemployment has dropped 0.5%, from a rate of 7.8% in January 2009 down to 7.3% in August 2013, according to the latest numbers from the Bureau of Labor Statistics (BLS).
Up until the Clinton administration, a discouraged worker was one who was willing, able and ready to work but had given up looking because there were no jobs to be had. The Clinton administration dismissed to the non-reporting netherworld about five million discouraged workers who had been so categorized for more than a year. As of July 2004, the less-than-a-year discouraged workers total 504,000. Adding in the netherworld takes the unemployment rate up to about 12.5%.
The World Trade Organization
WORLD TRADE REPORT
.OFFSHORING: MORE FEARS AND HOPES THAN FACTS?
...What about the developed countries? Notwithstanding the public concern alluded to above, most studies
conclude that the repercussions of service offshoring in high income countries are mixed, but positive overall. Productivity and profits are expected to rise, and the “loss” of offshored jobs should be compensated by increased employment and perhaps higher wages in the medium-term...
...a large spectrum of IT jobs could from now on be provided at far lower costs from low-income countries to firms and consumers in high income countries. These opportunities ranged from low-skilled jobs, such as data entry typists and phone operators in call centers, to high skilled jobs, such as software developers. Forrester Research (2002) describes nine services occupation categories subject to potential offshoring, which combined represent 44 per cent of total US employment in 2002 according to Kirkegaard (2004a). Van Welsum and Vickery (2005) reported that in 2003, the occupations potentially affected by offshoring represented 19.2 per cent of total employment in the EU, 18.6 per cent in Canada and 18.1 per cent in the United States (2002).
In the 1990s, a large number of multinational firms had already partially shifted the work of certain back office supply jobs (such as payroll, invoicing and accounting) to countries where they could be provided at lower cost. However, with the arrival of broad bandwidth lines at low costs and the increased digitization of information in all sectors (in particular services), the attraction of a significant cost reduction in the production of goods and/or services was becoming irresistible for any firm in a competitive environment....
Most of the reports focused on jobs in the United States and the United Kingdom that were threatened with relocation to India. This new development was often likened to the offshoring of manufacturing jobs to Mexico and China in the recent past....
A spectacular rise occurred in such reports during the course of 2003 and through the first quarter of 2004. There were 2,634 reports in US newspapers on services outsourcing activities in the first five months of 2004. Most of the reports caught media attention because of their projections of the (cumulative) number of jobs that would be lost in the United States due to the relocation of jobs to low cost locations over the next five or ten years.