I read with interest the article by Pallavi Gogoi titled, "U.S. companies are hiring - but they are not hiring in the U.S."
What a profound lesson we are learning about our jobs going offshore — to China and other Asian countries. A lot of our companies have gone somewhere else, and that helps explain why unemployment remains high in the United States.
The unemployment rate edged up to 9.8 percent last month, even though companies are performing well. But the jobs are going elsewhere.
A Washington think tank says American companies have created 1.4 million jobs overseas this year, compared with fewer than 1 million in the United States.
The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent.
These figures are absolutely scary. The next question is what can we do about this trend, or what will we do about it?