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Saturday, January 22, 2011

A Plan to Increase U.S Employment and Rebuild American Competitiveness

...is basically what President Obama has tasked former GE head Jeffrey Immelt to come up with as chairman of the new Council on Jobs and Competitiveness.

Among the areas he will target, Immelt tells us in THE WASHINGTON POST...

Manufacturing and exports: We need a coordinated commitment among business, labor and government to expand our manufacturing base and increase exports
Businesses should invest more of their cash and resources in advanced products and technologies that will create jobs in the United States, and government should incentivize this investment in innovation."
But,  as Avi Salzman observes in his Barron's article, ' GE Has Shed U.S. Jobs Since “Jobs Czar” Immelt Took Helm'.

President Obama has tapped General Electric Chief Executive Jeffrey Immelt to head a new White House panel tasked with finding a way to grow jobs. But since Immelt took over, GE has shed thousands of jobs, according to the conglomerate’s annual reports.
Of course, General Electric (GE) has sold divisions and made acquisitions that make it a different company than it was in 2000, when Immelt took over (he was named CEO in November 2000, not 2001, as previously reported). But overall, the company has fewer employees, and is much more reliant on foreign workers, than it was when he began his tenure. At the end of 2000, GE employed 313,000 people, including 168,000 in the U.S. (54%). By the start of 2010, when the company filed its most recent annual report, GE had 304,000 workers, including 134,000 in the U.S. (44%).

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