The Export of American Jobs Does Hurt the U.S.
Money is not the only casualty of the unemployment problem sweeping the United States. While it is obvious that earning a living supports families and returns that income back into the economy when earners become consumers, the consistently high unemployment rates have done damage to the psyche of the American worker, employed or unemployed. A very realistic cause of anxiety is that their jobs will be lost, or will not return because the positions are being shifted overseas where the expense of human resources can be reduced as equally educated and talented foreigners require a significantly reduced salary. American companies believe in order to keep consumer prices down and balance sheets profitable, the solution is to human capital expenditures.
Long-term unemployment numbers are increasing not only in population but in length of joblessness. In the past, the emergency fund savings rule of thumb advised a liquid asset account lasting from three to six months. Former full-time workers with college-level skills are lucky to find part-time or contract work to keep some sort of income rolling in. Many of these jobs are being exported overseas where customer service, IT help desk and order fulfillment call centers are sprouting up in second and third world economies.
Obviously, the unemployed are financially hurt by overseas outsourcing, but to what extent will society be damaged further by the addition of immense pain of depression and anxiety to this equation?Take a look here to learn more: When The Unemployed Become ‘Effectively Unemployable’
