Mortgage and Insurance

   We are told by  the BLS and other agencies that the US economy  continues to “shed” jobs. The explanations for how and why this is happening get very convaluted and obscure. No one mentions the 800 lb Gorilla sitting in the corner- the continued “off-shoring” of US productive activity and jobs to Asian and Latin countries. The US economy and labor force was beginning to take a hit from this  several years back but now the wall street crisis gets all the blame. How can GNP be rising while employment is falling? Easy, output of US firms regardless of where it takes place counts as US GNP, but the workers producing that GNP are not part of the US labor force. Data on “off-shored” jobs is not available except from industry sources. BLS should be told to start collecting and publishing such estimates asap. Many  things – which  the Globalizers do not want the public to  know – would become much more clear.