In: Economics
Summary:
The country focus explains that ‘offshoring’ has become a trend for white collar job positions. The expectancy of globalization has become a problem because the loss of jobs on our home country. The idea of labor positions or better referred as ‘blue-collar’ positions where more popular and helped free trade because it helped countries with low-wages. The more high-skilled and wage worthy ‘white-collar’ where traditionally performed in the U.S but due to the slow economy these had to be transferred to countries such as India, and the Philippines. The company’s spokespersons explain that the cost of performance is cheaper and allows for profit to be generated for the company. The IT specialists and drafting positions have been replaced in these developing countries because they are paid twenty-dollar an hour while at our country it would cost a hundred (Hill, 2011). The companies that have taken the steps to this transition are Bank of America, Fluor, and Procter and Gamble proving that offshoring helps increase profit but also increases unemployment rates in the U.S.
Reread the Country Focus “Moving U.S. White-Collar Jobs Offshore.”
b)Will developed nations like the United States suffer from the loss of high-skilled and high-paying jobs?(50 – 75 words).