Big US companies adding jobs ... overseas

http://economywatch.msnbc.msn.com/_news/2012/04/27/11431555-big-us-companies-adding-jobs-overseas?lite

Call it trickle-down job growth.

Robust overseas job growth at American multinational companies indirectly benefits workers here in the United States, although the impact would be magnified if these big businesses reinvested more of their overseas profits into the domestic economy.

Although corporate profits recently have hit historic highs, the economy's sluggish 2.2 percent GDP growth doesn't reflect this.
"While the United States has had some recovery, it's been pretty slow, whereas in the emerging economies, growth has been very rapid," said Robert Lawrence, professor of international trade and investment at Harvard University. American companies have gone where the profits are.

A Wall Street Journal analysis of 35 companies based in the United States that employ more than 50,000 people found that they collectively added 446,000 jobs between 2009 and 2011, around three quarters of which were overseas. During that period, 60 percent of their revenue growth came from overseas.