Friday, May 15, 2009

G.M. to Outsource Jobs

Figures in the outline show the proportion of GM cars made in those lower-wage countries (i.e. Mexico, South Korea, and China) and sold in the U.S. would rise to 23% from 15% over the next five years, the report said.

The continued outsourcing of formerly bedrock manufacturing jobs begs the question - where are new jobs going to come from in the United States, with the numbers and quality commensurate to those lost ?

Given increased unemployment, tapped out credit, wage cuts, and outsourcing, the U.S. consumer is in for an extended retrenchment. Who will fully replace that decreased demand in the world economy ?

No comments: