Quick Facts
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District unemployment falls in May
The unemployment rate rose in Maryland, fell slightly in the District and remained unchanged in Virginia in May, according to a Labor Department report released Friday. The District’s unemployment rate fell to 9.3 percent in May, down from 9.5 percent the month before. Maryland’s jobless rate inched up to 6.8 percent from 6.7 percent in April, while Virginia’s unemployment rate remained steady … Continue reading here: District unemployment ...
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Alabama unemployment rate up to 7.4 percent
Alabama's unemployment rate has increased for the first time since last summer. Read the rest here: Alabama unemployment rate up to 7.4 percent
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Unemployment driving foreclosures up
The foreclosure crisis always has been a different animal in Ohio than in other parts of the country, according to housing advocates. See original here: Unemployment driving foreclosures up
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How Tax Break for Overseas Profits Went Awry (June 09)
Researchers were able to calculate that $300 billion in overseas profit was repatriated by American companies in 2005, when they had to pay a tax rate of just 5.25 percent, rather than the normal corporate tax rate of 35 percent. The amount was five times the normal amount of repatriations. See original here: http://dealbook.blogs.nytimes.com/2009/06/05/how-tax-break-for-overseas-profits-went-awry/
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Offshore Outsourcing and America’s Competitive Edge:Losing out in the High Technology R&D and Services Sectors
Source: Office of Senator Joe Lieberman, May 11, 2004 I am releasing this white paper in hopes that it will stimulate a deeper review of the long term implications for our policy responses and change the terms of the debate on the offshore outsourcing issue. The issues raised in this report go well beyond the current debate and focus on the next wave of this challenge, which potentially could affect high end R&D research jobs, ...
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The Real Deficit Culprits: Offshoring and Corporate Tax Evasion
Source: In These Times, April 21, 2011 One of the major causes of current high, chronic levels of unemployment in the United States is offshoring by U.S. corporations. Less well known, however, is that these same multinational corporations are a significant cause of not only millions of lost jobs, but of trillions of dollars of lost tax revenue as well—thus contributing significantly to current and future budget deficits. A recent report by the U.S. Commerce Dept., a ...
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Companies Push for Tax Break on Foreign Cash
Source: The New York Times/ June 19, 2011 By DAVID KOCIENIEWSKI Some of the nation’s largest corporations have amassed vast profits outside the country and are pressing Congress and the Obama administration for a tax break to bring the money home. Apple has $12 billion waiting offshore, Google has $17 billion and Microsoft, $29 billion. Under the proposal, known as a repatriation holiday, the federal income tax owed on such profits returned to the United States would fall to ...
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Facebook hires software engineers from India to fill US posts
http://economictimes.indiatimes.com/news/news-by-industry/jobs/facebook-looks-at-indian-software-engineers-for-us-positions/articleshow/12433245.cms Mar 28, 2012, 10.11AM IST According to Prabhakaran Murugaiah, founder and CEO at Corp-Corp, a Virginia-based technology staffing company, companies hiring from India for jobs based in the US is rare, but this will probably increase because of talent shortage in the world's largest economy. "Unemployment in the technology space is only 3.7%, which is virtually zero talent available for the current skills in demand," he said. MUMBAI: Facebook, the world's largest social networking site, is doing ...