Where Are the Jobs? For Many Companies, Overseas

The large and growing emerging markets of China, India and Brazil are a lure for multinational corporations in search of top revenue and profits. Job creation follows the markets, strengthening the middle class and education programs in emerging markets, particularly Asia. Companies like Caterpillar, Coca-Cola and DuPont hired more employees overseas in 2010 than in their home base of the US, where unemployment nears 10 percent, reports the Associated Press, describing a report from the Economic Policy Institute, based in Washington, DC. “There's a huge difference between what is good for American companies versus what is good for the American economy,” notes Robert Scott, the institute’s senior international economist. With increasing profits coming from overseas sales, US stock markets indices do not reflect conditions on main streets throughout the US. The trends are self-reinforcing: Corporations base factory and hiring decisions on growing markets, and these decisions improve workforce talent, education and innovations in those locations. – YaleGlobal