The U.S. labour pool will fall dramatically by 2015 as baby boomers retire, says Diana Farrell of McKinsey Global Institute. However, the generations of workers who follow them will have better jobs. One reason is outsourcing.
Jobs are being “offshored” to the United States, even as American jobs are outsourced overseas. For example:
Many American jobs have disappeared over the past century, and continue to do so:
Each job American companies outsource to India translates into annual savings of $20,000 to $30,000, say experts, and those savings help create better jobs in the United States.
Source: George Will, Sometimes Jobs Ought to Disappear, Fort Worth Star-Telegram, February 20, 2004; Marilyn Alva, U.S. Firms’ Outsourcing to India Reaps Big Savings, Political Heat, Investor’s Business Daily, February 20, 2004.
For Will text http://www.townhall.com/columnists/georgewill/gw20040219.shtml
For more on Benefits of Trade http://www.ncpa.org/iss/tra/
FMF Policy Bulletin\24 February 2004
