With an unimpressive unemployment rate of 8.5% and an inactive economy, US President Barack Obama is once again pleading for US firms to source locally. Even though he focused more on manufacturing jobs during his State of the Union speech, he also cited the adverse effects of technology to unemployment.
The President harked back to the day before recession immobilized the economy, when technology was merely being used by firms and then was gradually adopted, resulting to loss in job opportunities. He said the country will not go back to a weak economy brought about by outsourcing, debt, and fake profits.
Obama shared a proposition wherein firms that are providing jobs will be rewarded and those that are outsourcing offshore will not get benefits like tax deductions.
However, software coding and computer hardware management jobs will likely be outsourced offshore since majority of US’ talent pool are not equipped with such skills.
Som Mittal , President of Indian software industry body Nasscom, said the IT industry of India greatly helps in building innovation to the US economy, and he is hopeful that rebuilding US would lead to desired results.
Source:
http://economictimes.indiatimes.com/
The President harked back to the day before recession immobilized the economy, when technology was merely being used by firms and then was gradually adopted, resulting to loss in job opportunities. He said the country will not go back to a weak economy brought about by outsourcing, debt, and fake profits.
Obama shared a proposition wherein firms that are providing jobs will be rewarded and those that are outsourcing offshore will not get benefits like tax deductions.
However, software coding and computer hardware management jobs will likely be outsourced offshore since majority of US’ talent pool are not equipped with such skills.
Som Mittal , President of Indian software industry body Nasscom, said the IT industry of India greatly helps in building innovation to the US economy, and he is hopeful that rebuilding US would lead to desired results.
Source:
http://economictimes.indiatimes.com/
