NewsMine — economy — united-states — 2004 — 2004-june-aug — Viewing Item

Report says 9 perc layoffs due to outsourcing { June 10 2004 } Original Source Link: (May no longer be active)    http://www.nytimes.com/2004/06/10/business/10WIRE-OUTSOURCE.html http://www.nytimes.com/2004/06/10/business/10WIRE-OUTSOURCE.html June 10, 2004 New Report Says Outsourcing Causes 9% of U.S. Layoffs By REUTERS WASHINGTON, June 10 (Reuters) - The bulk of outsourced jobs never leave U.S. shores, the government said on Thursday in a new report suggesting concerns over American workers losing jobs to cheaper foreign labor may be exaggerated. Nine percent of non-seasonal U.S. layoffs in the first quarter were due to outsourcing, but less than a third of the work was sent overseas, the U.S. Labor Department said in releasing new figures on mass layoffs and outsourcing. "In more than seven out of 10 cases, the work activities were reassigned to places elsewhere in the U.S.," the Bureau of Labor Statistics said in its report on mass layoffs for the January-to-March period. Organized labor, critical of the administration's record on jobs, has promised to make outsourcing an issue in this year's presidential election. While the figures offer the first official measure of the impact of outsourcing on U.S. employment, they count only layoffs at companies where at least 50 people filed for unemployment insurance during a five-week period and the layoff lasted more than 30 days. That restriction means the figures do not capture the impact outsourcing has had on small businesses. In the first three months of the year, 4,633 U.S. workers were laid off because their jobs were moved to a foreign country, the BLS said. That represents less than 2 percent of the mass layoffs that totaled 239,361 during that period. When seasonal and vacation-related mass layoffs are excluded, the proportion of workers who lost their jobs due to overseas outsourcing rises to about 2.5 out of 100. Another 9,985 workers lost their jobs because the work moved to a different location within America, BLS said. However, the report showed outsourcing had a huge impact on whether work sites were permanently shut-down or just temporarily closed. Fifty-one percent of mass layoffs caused by outsourcing were permanent closures of the work site, compared to just 17 percent of total layoffs. A large proportion of mass layoffs in America are due to seasonal factors -- such as winter layoffs in agriculture or summer shut-downs at manufacturing plants -- and about two-thirds last less than a month. Copyright 2004 The New York Times Company

Att profit plummets stops residential service Consumer prices gain at slower pace in june { July 17 2004 } Consumer prices rise in may Consumer spending wanes and growth slows Defense spending helps small town jobs { May 11 2004 } Dollar declines against euro Dollar falls 3 week low versus euro Dow falls below 10k level Dow sinks to 2004 lows on oil prices hp earnings Dow strumbles on growth fears { July 24 2004 } Employment growth surprisingly weak in july { August 6 2004 } Fed boosts rate a quarter point Fed raises rates in august First quarter economic growth slows Food fuel advance consumer prices in may GM and Ford suffer sharp fall in June sales { July 1 2004 } Gold to hold above 400 this year and next { July 19 2004 } Greenspan says fed ready to act on inflation { June 8 2004 } Hourly pay not keeping up with price rises { July 18 2004 } Inflationary pressures building Price index higher than expected Report says 9 perc layoffs due to outsourcing { June 10 2004 } Stocks dip on inflation fears Stocks end lower after profit warning Stocks fall july 19 2004 Stocks fall sharply on weak job figures Stocks flat on greenspan raising interest rate worries Stocks higher on news of fed rate hike Stocks sag as oil prices steam higher Stocks tumble early aug on oil worries { August 5 2004 } Trade deficit sours US jobs growth slows down US stocks give back opening gains US trade gap widened in april to record 48b { June 14 2004 } Workers lack skills says greenspan { July 22 2004 } Files Listed: 35

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