| It seems hard to believe but millions of jobs are | | | | capital for business. The incentives have been a |
| lost each year in the U.S. and must be replaced. | | | | plus for businesses and workers, leading to many |
| Foreign companies have provided over 6 million | | | | of these top insourced jobs. |
| jobs here in the U.S. in recent years, most of | | | | Job losses on the other hand are always |
| those paying well above the average. | | | | unfortunate, especially in manufacturing. These |
| Job displacement is unfortunate but inevitable. It is | | | | losses are taking place worldwide as a result of |
| a plus, that opportunity exists to wind up better | | | | rising productivity. That cannot be changed. |
| off than previously. | | | | Replacing those jobs and adding millions more is |
| In a study by the Organization for International | | | | the best answer. The insourcing of jobs is vital. |
| Investment, we learn that 6.4 million U.S. jobs, | | | | Similar to the United States, the typical country |
| were provided by foreign companies, in recent | | | | averaged losing 11% of its manufacturing jobs, |
| years, all of these insourced. | | | | before the Bush tax cuts. China topped the U.S. in |
| The study was conducted a short time before | | | | that area, losing 15% of its manufacturing jobs. |
| the presidential election. It found that insourced | | | | As jobs were decreasing, manufacturing output |
| jobs were growing at a healthy 5.5 percent per | | | | was increasing by 38%. This has resulted in |
| year, far outpacing the 1.5 percent job loss in | | | | reduced prices for many of our purchases. Of |
| manufacturing jobs, the sector in which most job | | | | course, reduced prices are good for all |
| losses have occurred in recent years. | | | | consumers, especially those with the least income. |
| In a separate study, by the firm Global Insight, | | | | Congress Must Make Tax Cuts Permanent |
| jobs lost in the Information Technology Sector, | | | | Many economists believe the job market can |
| essentially resulted in the creation of 90,000 net | | | | remain quite healthy through 2007, if congress |
| new jobs in 2003. | | | | puts the nation's health above politics. |
| Insourced jobs pay well above the national | | | | The February 2007 jobs report combined with |
| average with virtually every state enjoying a plus | | | | the rapid rise in inflation adjusted wages, revealed |
| as a result of jobs coming from abroad. According | | | | that the pace of workers gains in this expansion |
| to Pennsylvania Governor, Ed Rendell, for | | | | are well ahead of those in the highly praised |
| example, 400,000 Pennsylvanians are employed | | | | Clinton years. |
| by foreign companies. | | | | These wage gains suggest a tight labor market |
| Two weeks ago, Toyota, announced plans to | | | | and continued wage gains. A strong economy |
| make autos in Mississippi, a move that will add | | | | creates net new jobs including those that are |
| 2000 new jobs in that state. In Michigan, Hyundai | | | | insourced. |
| will soon be operating an R&D headquarters. | | | | If congress maintains the lower cost of capital, |
| Honda and BMW have been providing thousands | | | | along with lower individual tax rates, it will be a big |
| more jobs in Ohio and South Carolina respectively, | | | | plus. |
| for several years. | | | | In the meantime let's hope that many of the |
| In 2006, foreigners invested approximately $500 | | | | displaced workers, become the recipients of those |
| billion more in the U.S. than America did in foreign | | | | high paying jobs provided by foreign companies. |
| nations. The 2003 tax cuts reduced the cost of | | | | |