Evaluating the American Job Market essays

Evaluating the American Job Market essays Economics has been an integral component of human enterprise ever since goldsmiths began utilizing their clients bullion to support unrelated endeavors. The goldsmiths simple process provided the model for present-day corporations to invest their net-worth in labor expansion and new technology. This process has led to a prevalent economic policy concerning the elimination and creation of jobs. Outsourcing, which specifically deals with the loss of jobs to foreign markets, is seen by many people as destructive to a nations economy, but it can ultimately increase the number of jobs available in the United States. Insourcing, a relocation of jobs into the United States by non-U.S. companies, is usually extremely beneficial to an economy with a high rate of unemployment. Economic policymakers in the United States continually deliberate on the optimum way to increase jobs and to decrease the dependence corporations have on outsourcing needed support functions to other places in the world. Interpreting the present-day economic market has become extremely complex; however, the complexities can be resolved by a comprehensive understanding of outsourcing, insourcing, and the policies that guide the American economy. Jobs that are outsourced to other countries can potentially increase the number of employment opportunities in America. Corporations look overseas for low-wage workers, which will decrease labor expenses. In addition, these companies search for the best possible environment for productivity (Taiwan 1). Cheaper labor costs theoretically allow[s] companies to invest more capital in new equipment and technology(Outsourcing 1). The new investments usually led to a creation of jobs in America. In order to create jobs, the U.S. [must] remain open to the worldwide economy (Parameswaran 2). Equally important, blue-collar job losses are opportunities for Americans to receive a higher ...