America’s Economy Hurts Because of a Lack of Talent Insourcing

In a Businessweek article, Jack Welch argues that outsourcing is forever. His argument’s are pretty convincing.

Since 2003 – America has added more than 7 million jobs.

Wage growth has gone from 1.5% in 1994 to 4.0% last year.

And…

America’s economy has grown in 2 years by about 20% equal to the TOTAL ECONOMY of China.

China is indeed setting all the records, or are they?

What is the record for the most growth of an economy in total amount?

Because of outsourcing, it was predicted that hi-tech jobs would end up overseas – in China or India. In fact, tech jobs have grown 17% from the pre-bubble 1999 level.

America is not hurting because of the loss of jobs. Rather, Welch argues, America is hurting because of shortage of skilled labor due to immigration restrictions.

America needs to raise the limits on H1_B Visas, increase the number of green card holders so that skilled workers can have more permanence thus assimilating to the American culture AND building a better economic future for all of us.

America’s labor challenge is NOT outsourcing but rather a lack of talent insourcing, Welch says.

What do you think?

go to 老毕看中国