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Tuesday, February 24, 2004

The new jobs migration Via economist

The actual and prospective migration of service-sector jobs is small, and likely to remain so, compared with the background level of job creation and destruction in an economy with as much vitality as America's The movement of jobs to the developing countries does not alter the overall level of employment in the advanced economies; however, the pattern of employment, to be sure, does change.The image conjured up by the self-interested purveyors of alarm, of a hollowed-out America with relentlessly rising unemployment,is not just false but absurd.
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