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Multinational Companies Not Shifting Jobs Outside U.S. Borders
NEW YORK -- U.S. multinational companies will continue to expand their overseas work force over the next 12 months, but the great majority of new jobs outside the United States will serve expanding overseas markets and will not be jobs transferred offshore, according to the PricewaterhouseCoopers Management Barometer.Companies expecting to hire now employ 79% of their total work force in the United States. and 21% offshore. Of the new jobs, 75% will be within U.S. borders and 25% in other countries."There's no giant sucking sound coming from large U.S. businesses planning to expand their workforce," said Frank Brown, global leader of PricewaterhouseCoopers' Advisory practice. "The vast majority of planned new overseas jobs are related to expansion of overseas markets, rather than to offshoring by large U.S. businesses."According to the survey, 46% of surveyed companies plan to increase their work force over the next 12 months, adding an average of 4.4% net new hires. Of these new jobs, 3.3% are expected to be in the United States and 1.1 % in other countries.Of the planned new overseas jobs, a large majority, 73% of the total, will be workers serving their local marketplace, while 27% will serve markets outside their home country, including the United States.PricewaterhouseCoopers' Management Barometer is a quarterly survey of top executives in a cross-section of large, multinational businesses. It is developed and compiled with assistance from the opinion and economic research firm of BSI Global Research Inc. Visit PricewaterhouseCoopers: www.pwc.com"