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As a student of College Management who major in Business and also minor in Economic, I strongly believe that outsourcing is damaging America‘s economy.
Unemployment issue
The US’s growing unemployment rate is related to this outsourcing trend. One figure from Forrester’s Research shows that at least 40% of Fortune 1,000 companies are sending US jobs overseas. The proponents of outsourcing argue that the outsourced workers will be able to find job replacements through retraining. However, according to a report by the McKinsey Global Institute, 31% of workers who lost their jobs never found employment, (Reingold)...
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