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California 1st for "Insourced" jobs
Washington, D.C.
September 25, 2007 11:48AM
• Large factor in state’s manufacturing employment
• “Insourced” jobs found in every state
With 542,600 workers employed by U.S. subsidiaries of companies that have their headquarters in other countries, California ranks first in the nation in terms of the total number of so-called “insourced” jobs, according to figures reported by the Organization for International Investment.
U.S. Commerce Department statistics show that “insourced” jobs continue to be an integral part of the U.S. economy, the Washington, D.C. lobby says. “Foreign-based companies have paid the California workforce a huge compliment by choosing to employ hundreds of thousands of workers in the state,” says Todd Malan, president and CEO of the Organization for International Investment. Mr. Malan says “insourced” jobs are found in every state, supporting a total of 5.1 million American jobs and a $336 billion annual payroll.
The number of jobs in California supplied by U.S. subsidiaries provides the livelihood for 4.2 percent of California's private-sector workforce, the report says. These include 123,900 manufacturing jobs in California, it says.
Highlights of the report include:
• More than 8 percent of manufacturing jobs in California are supported by U.S. subsidiaries.
• U.S. subsidiaries’ employment in California is heavily concentrated in manufacturing. Nearly 25 percent of these jobs are in manufacturing industries.
• U.S. subsidiaries provide an average compensation per U.S. worker of $66,042 – 32 percent higher than compensation at all U.S. companies.
Source: Reprint from http://www.centralvalleybusinesstimes.com/
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