Big U.S. Firms Boost Hiring Overseas

U.S. multinational corporations employ one-fifth of the American work force, but they would apparently prefer to have the work done overseas: They cut their U.S. employment rosters by 2.9 million in the 2000s, while boosting overseas employment by 2.4 million jobs. That’s a big turnaround from the 1990s, when they added 4.4 million jobs at home and 2.7 millions jobs overseas. "It's definitely something to worry about," says Matthew Slaughter, a former economic adviser to President George W. Bush.