The euphemism of globalization is a smoke screen for the offshoring of skilled labor jobs to countries that pay below poverty level wages to civilian workers. Corporations and their cohorts in crime, politicians, continue to feed from the trough of the American middle class wallet without a single moments consideration of the devastating effects that offshoring of well paying jobs is having on the US economy.
According to a January 2014 study by Sourcing Line Computer Economics, 2.64 million jobs were off-shore outsourced from the United States in 2013. With a hefty 53% of manufacturing jobs off-shored to foreign countries, the United States has been robbed en masse of some of the highest paying jobs available to US workers. What was once a valuable source of reinvestment into the US economy has now been decimated through the practice of off-shoring. With the off-shoring of manufacturing jobs, resources such as the mining and metals industry for example, can also be added to the statistics of lost revenue and jobs in the US.
The industry break down is also pretty telling.
|Offshore Outsourcing By Sector||Percent of Companies|
|IT Services||43 %|
|Call or Help Centers||12 %|
Jobs created in the service sector of the economy, which was much trumpeted by the Bush administration, pay badly and offer little in the way of benefits. In short, they amount to a way of creating greater numbers of underemployed. Even those lousy jobs haven’t exactly been pouring in. Most of this job loss is due to the process euphemistically known as “globalization”.
The process of globalization has been aggressively fostered by the wealthy for years through the corporate corruption of governments all over the world, including that of the US, and through the corruption of international institutions like the World Bank and the IMF which, in effect, utilize a vicious version of economic blackmail on behalf of large corporations that disavow loyalty to any nation.
Some have claimed that the savings corporations realize by offshoring jobs are ultimately returned to investors and are thereby eventually pumped back into the economy. This is the fallacy of trickle down economics. This argument no longer has a leg to stand on, if, indeed, it ever did. The truth of the matter is that CEO’s have fattened their own paychecks quite handsomely every year, as have the bought and paid for politicians that continue to support these absurd policies that are crushing the middle class in America.
Americans have been urged to “retrain” or acquire “additional skills” in the face of the trend to send jobs offshore. However, as shown in the statistics above, the jobs that most Americans are retraining for, at their own expense, are jobs that are largely shipped overseas. The exporting of any job from any sector increases pressure on all the remaining sectors, no matter how well-trained, because it increases the labor supply and drives down wages for everybody.
If the offshoring of American jobs isn’t reversed, millions and millions and millions more American jobs are going to be lost in the decade ahead, particularly better-paying jobs. It is estimated that one-third of all US jobs are offshorable, and many of these are the kind of jobs that underpin the American middle-class, upon which the entire economy depends.
Sources and recommended reading: