>* We estimate that relocation of US production to overseas affiliates
>accounts for 300,000-500,000 job losses over the past three years. This
>trend historically has been confined to the factory sector, but cheap
>telecommunications and huge potential savings will encourage offshoring of
>service functions to grow rapidly.
>* Even so, international relocation is quite small compared to the
>size of the US economy-worth about 0.1% of employment per year. It is one
>factor behind the current "jobless recovery," but hardly the only one.