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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: GST who wrote (52960)	2/7/2006 4:02:40 PM
From: Marc Hyman	Read Replies (2) of 110194

many skilled jobs go offshore because the US lacks competent individuals with highly developed skills. You left out an important word. That should read "many skilled jobs go offshore because the US lacks cheap competent individuals with highly developed skills. A "guest worker" in Silicon Valley already makes more than the average American. Irrelevant. The measure is guest worker vs American in the same job. I don't pretend to know what the difference is today, but 8 years ago the "guest worker" was cheaper for two reasons: 1) Pay was on the low end of the range a citizen would have received. Experience and training would have put the guest workers in the middle to high end of the range. 2) Turnover was greatly reduced. Many (most?) of the guest workers wanted to stay in this country and were often given legal support by the company to make this happen. Changing jobs meant either losing their visa or restarting the clock for permanent residency. Keeping turnover down in high tech Silicon Valley is worth lots of money. // marc

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