jobs growth overseas, while our economy languishes in the doldrums…it helps explain why the market is doing better at the rate of 9.8% unemployment…we’re fucked, blathering on about petty partisanship
But the jobs are going elsewhere. The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute’s senior international economist.