Millions of Jobs Could Be Sent Overseas
While many hope the recovery of the U.S. economy will create domestic job opportunities, a recent report from the Hackett Group finds that the U.S. job market will continue to face challenges. Many jobs will be off-shored in the coming years to nations such as China and India. These "low-cost geography" nations appeal to organizations that strive to keep operating costs low. As a result, the wave of migrating opportunities should have a considerable impact over the next several years. However, the Hackett Group reports that this trend will begin to decline by 2014, and then the outflow of jobs will likely cease because companies will run out of positions that are suitable for moving to these nations. The research was compiled via available data on 4,700 companies with annual revenues over $1 billion headquartered in the United States and Europe. For more about the report, click here.