after 2\1/2\ years of a largely jobless recovery, the current administration is on track to be the first in over six decades actually to lose jobs during its 4-year term. It is particularly alarming that this country has lost more than one in seven of its manufacturing jobs since this administration took office. More than one in seven. One reason is outsourcing. We have been seeing good, high-wage manufacturing jobs transferred overseas for a number of years. But outsourcing now has accelerated. It has spread to ``knowledge-based jobs''--programming, auditing, accounting, engineering, design, telemarketing, animation, editing, transcription, legal assistance, call centers and even core research. Some economists have argued over the years that free trade helps the United States to concentrate on creating high-wage, high-value-added jobs here in America. But now those jobs are being exported, too. The old rules of comparative advantage have been exploded. As we all know by now, the President's annual economic report, signed by Mr. Bush, explained why we should be celebrating the outsourcing and off-shoring of American jobs. Gregory Mankiw, chairman of the President's Council of Economic Advisors, summed up the report. He said that ``outsourcing is a growing phenomenon, but it's something that we should realize is . . . a plus for the economy.'' Yes, you heard that right: Outsourcing is ``a plus for the economy.'' Outsourcing of U.S.…
Tom Harkin: “after 2\1/2\ years of a largely jobless recovery, the current administration is on track to be the first in over six…”
Editor's note · Context
Discussing job loss and outsourcing during a speech on the economy.
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