5 years ago - 1.1 MILLION U.S. VACANCIES AWAIT PROFESSIONALS
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The Economic Times
Asia Africa Intelligence Wire
January 16, 2004
Indian professionals have no choice but to make it big in
the US economy this decade.
No matter where they are located -- in California or in
Bangalore, in Seattle or in Hyderabad; the world's largest
pool of English-speaking, highly educated workers will be
the first choice for US firms as they seek to plug the
demand-supply gap. By 2010, according to a Nasscom-
Evalueserve report, there will be a shortfall of 5.6
million between the number of jobs in the US and the number
of available Americans.
The report estimates that 3.2 million out of those
positions will be filled by immigrants (in 2002, 73,000
people migrated from India to the US), while another 1.3
million jobs will be sent out to countries like India. That
still leaves a gap of 1.1 million positions to be filled.
Whether they export the jobs or import professionals, US
corporations will obviously be looking to the Indian work
pool in a big way. If they don't, says the report, the US
economy could lose out on growth opportunities that would
have contributed a collective $2 trillion by 2010.
Are they going to give up on such an opportunity? Unlikely.
If these projections are correct, the current economic and
political debates raging in the US over the wisdom of
shipping jobs overseas are meaningless. After all,
according to these figures, no American should be out of a
job.
The report envisages only a short-term impact in that area.
Since US jobs will move to countries like India (not just
because there aren't enough people in America but also
because costs are way lower in India), about 0.7 million
Americans will indeed be unemployed for a while.
More at:
http://portal.bsnl.in/bsnl/asp/content%20mgmt/html%20content/business/business27407.html
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