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U.S. Firms Hiring…Abroad

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  • Description

    FBN's Liz MacDonald on U.S. multinational companies adding jobs overseas.

  • Duration 2:43
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Lots of hiring by US based multinational companies that most does need jobs well they're not US based in Elizabeth MacDonald has not story that you might.

Despite you know -- you've been reporting this trend we've seen this trend for the last two decades and this isn't a red state blue state issue it's not a Republican or Democrat it's both.

And this is the reason why joblessness is so high 75%.

Of new jobs created by 35 multinationals according to the Wall Street Journal we created overseas and the other issue too with these numbers seven of those companies actually cut.

More US jobs.

Vs creating jobs overseas those companies.

We're you know and -- excuse me UPS International Paper Wal-Mart and at Honeywell also you know this is a trend a policy makers are gonna have.

Do what we talked also all the time about these exploding populations especially middle class populations in Asia.

Is that where a lot of this these new jobs are being create -- -- than it looks -- hiring and what about Europe considering their economic challenge.

No we're seeing this is based on government did add that there'll be more consumers in Asia.

Verses the northern in North America and Europe combined -- by 201522.

20/20.

So you see companies like DuPont for example only a third of DuPont's products are sold here in United States -- our US customers yeah vs overseas.

And so you know and -- -- with this I mean the Commerce Department has seen this trend really tickled.

It 2004.

-- more jobs are created by companies US companies overseas vs -- that -- -- -- tax revenues coming from -- those workers and having to pay taxes.

I guess in their sovereigns or where they're living or does is there I know this is in -- political dial up right yeah that's right an 804 if you worked for those companies had three double taxation.

-- -- get a for a tax credit but what the real issue is is.

Who's got the policy is to keep these jobs home I mean this has been an enduring problem I think going back to before the Carter administration you saw these issues that pop up in the seventies.

And what you're seeing is President Obama is saying essentially look we want it basically.

Creates that tax credits we want it you know basically tax overseas companies who want to lower taxes that -- creep in here.

And Mitt Romney saying you know what this -- the US corporate rate we just flashed the list of companies doing this it is a long list not just the big ones you mentioned so I hope this isn't just to see change of kind of hiring culture it's interesting to report on -- to do so yet you know -- when you think about it we have a GDP numbers coming and they disappointed yet again.

And the question for policy makers is do we see a permanent -- -- reduction.

And GDP is this Don -- in other words are we gonna see flat line growth to 3% going forward.

And how to create jobs and that's an area at the public over he's it's from new normal but it just might be that -- this might be about the threat that the face of the US economy looks like in -- -- pleasure.

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