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Outsourcing and Insourcing Jobs in the U.S. Economy: An Overview of Evidence Based on Foreign Investment Data , Record No.: RS21883, Date: May 13, 2008 1 (June 13, 2008)

handle is hein.tera/crser0133 and id is 1 raw text is: Order Code RS21883 Updated May 13, 2008 ACRS Report for Congress Outsourcing and Insourcing Jobs in the U.S. Economy: An Overview of Evidence Based on Foreign Investment Data James K. Jackson Specialist in International Trade and Finance Foreign Affairs, Defense, and Trade Division Summary Foreign direct investment is sparking a national debate.' Local communities compete for investment projects, while many of the residents of those communities fear losing their jobs to foreign outsourcing. Some opponents argue that such job losses have a disproportionately negative impact on local communities. Economists generally argue that free and unimpeded international capital flows have a positive impact on both domestic and foreign economies. This issue is complicated by the fact that broad, comprehensive data on U.S. multinational companies was not developed to address the issue of jobs outsourcing. This report provides an overview of CRS Report RL32461, Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data, that analyzes the extent of direct investment into and out of the economy and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy.' This report will be updated as events warrant. The United States defines foreign direct investment as the ownership or control, directly or indirectly, by one foreign person (individual, branch, partnership, association, government, etc.) of 10% or more of the voting securities of an incorporated U.S. business enterprise or an equivalent interest in an unincorporated U.S. business enterprise. 15 CFR § 806.15 (a)(1). Similarly, the United States defines direct investment abroad as the ownership or control, directly or indirectly, by one person (individual, branch, partnership, association, government, etc.) of 10% or more of the voting securities of an incorporated business enterprise or an equivalent interest in an unincorporated business enterprise. 15 CFR § 806.15 (a)(1). 2 Data for this report were taken from the annual surveys by the Bureau of Economic Analysis on U.S. direct investment abroad and on foreign direct investment in the United States. See US. Direct Investment Abroad: Operations of U.S. Parent Companies and Their Foreign Affiliates; and Foreign Direct Investment in the United States: Operations of U.S. Affiliates of Foreign Companies. Preliminary results from surveys are published in the Survey of Current Business generally 18 months after the end of the reporting calendar year, with the more detailed reports issued in the fall of that year. Congressional Research Service The Library of Congress Prepared for Members and Committees of Congress

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