ONE MILLION JOBS ON THEIR WAY TO INDIA FROM THE USA
One million jobs are on their way to India from the United States, according to Forrester Research Inc. And that is just by the end of next year. As many as 14 million US jobs, ranging from investment research to tax preparation are likely to be off shored in India. Most of these jobs are standardized, and don't require personal interaction. Goldman Sachs estimates that about 400,000 U.S. service jobs have been sent to other nations since 2000. The Information Technology Association of America reported that 104,000 tech jobs left the USA during the same period. The India Times reports that the number of highly skilled nonunion jobs is increasing. There is another irony. Other nations will offshore some 317,000 to the US by 2008.
RETAIL TRENDS, GROWTH IN LOW DOLLAR SECTOR
The fastest growing area of retail sales in the world, is in stores that cater to low end merchandise and low income customers. Chains like: "Dollar Stores" or "99cents" stores are growing at 10 times the rate of conventional retailers. "This is reminiscent of the five and dime stores of the 1930's, when everything was priced at a dime or less" said Ben Boothe, economic consultant.
An excellent example is shown on the photo of this report. It is not unusual to see crowds gathered in lines over a block long, for the grand opening of "99cent" stores. These people typically make less than $20,000 per year. The amazing thing about this trend is the demand. In the case of the store in this photo (at Fort Worth, Texas on June 10th) was that it opened directly beside an existing "Dollar" store. Consider how hard it is to get Americans or westerners in general, to go out and stand in line for anything, other than mass entertainment and this becomes even more remarkable.
Is this a reflection of the economy in general?
THOUGHTS FOR YOUR CONSIDERATION
WORLD MILITARY EXPENDITURES: 2003 $900 BILLION U.S. MILITARY EXPENDITURES:...2003 $400 BILLION AMOUNT NEEDED TO ELIMINATE HUNGER AND MALNUTRITION FROM THE WORLD: 2003 $21 BILLION
INVESTMENTS, HOW TO INCREASE THE EARNINGS FROM YOUR SAVINGS!
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