Re: Race to the Bottom

<http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/03/07/ 
MNGRT5G2C11.DTL>

"Jobs are more likely to be shipped overseas from Silicon Valley than  
any other region in the nation, placing the Bay Area's economic engine  
directly in the path of the global freight train known as offshoring.

 Specifically, 1 in 6 jobs in Silicon Valley are at risk of being sent  
abroad, compared with only 1 in 10 positions nationwide, according to  
researchers at UC Berkeley. The economists estimate that 1 in 7 San  
Francisco jobs could be exported."

<snip>

"-- Oracle Corp. of Redwood Shores has more than doubled its staff in  
India since 2002; it now has 4,200 workers there.

 -- PeopleSoft Inc. in Pleasanton recently said it will hire 1,000  
additional people in India, tripling its headcount there, by the end of  
2004.

 -- Hewlett-Packard Co., founded in Palo Alto, has increased its staff  
in India to 8,000 as part of the company's cost-cutting strategy.

 -- Cisco Systems Inc. of San Jose employs 600 workers in India.

 Many other firms are following suit, although few companies are very  
open about it."

<snip>

"If workers who lose their jobs to offshoring stay in the same field,  
they probably can expect to earn less, Bardhan said. "Those wages are  
going to stagnate," he said.

 At the same time, looking to other industries often leads to a smaller  
paycheck, too.

 "When re-employment happens in another sector, that's when the  
earnings losses tend to be larger," said Lynn Karoly, an economist with  
Rand, a research concern that recently published a report on trends in  
employment.

 Another study by the left-wing Economic Policy Institute shows that  
industries gaining jobs in the United States pay an average of 21  
percent less than job-losing industries. In California, growing  
industries pay 40 percent less than those that are contracting."

--
William T Goodall
Mail : wtg-FAjn8uNKAGMCqOQrDF6SL1pr/1R2p/CL@xxxxxxxxxxxxxxxx
Web  : http://www.wtgab.demon.co.uk
Blog : http://radio.weblogs.com/0111221/

Beware of bugs in the above code; I have only proved it correct, not
tried it.
-- Donald E. Knuth

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