According to the Associated Press, over half of the 15,000 people hired by Caterpillar Inc. this year were outside of the U.S. UPS is also hiring more overseas candidates. International sales are growing at double the rate of the domestic market for these two companies.
Unemployment in the United States for November rose slightly to 9.8%, according to the Bureau of Labor Statistics. Yet companies are still performing in the black: All but 4 percent of the top 500 U.S. corporations reported profits this year, and the stock market is nearing its highest point since the financial meltdown two years ago.
“Companies will go where there are fast-growing markets and big profits,” says Jeffrey Sachs, globalization expert and economist at Columbia University. “What’s changed is that companies today are getting top talent in emerging economies, and the U.S. has to really watch out.”
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Hustletown readers, we all know that as more companies leave the US for greener pastures, employment opportunities left behind for the working class will grow increasingly lean. 2011 is your year to take the guesswork out of this equation–join a network of committed entrepreneurs and build toward your future success!