Fed chief says low rates may be causing firms to hire abroad, Hound finds 130,000 jobs nationwide.

Pasadena, CA, April 21, 2011 – The Fed’s policies, especially its low interest rates may be causing big firms to expand and hire more people in foreign countries.
These comments were made by Richard Fisher, the Federal Reserve Bank of Dallas. According to him, this may be one of the main reasons that not a lot of jobs are being created right now. Fisher said that from his interactions with major firms the common factor he found was that it was easier for them to deploy their funds abroad to invest, expand and hire more workers.

The funds are raised in bond markets or taken as loans and after buying stock or expanding on the dividends, the next step for them is to invest it in foreign countries where governments offer more incentives and taxes are lower. Fisher says this is why he thinks that the reduction of long-term rates created by the Fed’s policies maybe creating job abroad.

American multinational companies employ around 20 percent of all American workers. Most of these have been cutting their workforces at home while increasing their hiring abroad. The U.S. Commerce Department shows that during the 2000s, companies hired over 2.4 million workers abroad and cut 2.9 million jobs in America. By 2009, these multinationals had 21.1 million Americans on their payrolls and 10.3 million workers abroad.

Multinationals, on their part have pointed out that the expansion in their foreign workforces is because of the increasing importance of foreign markets. Companies such as General Electric, Caterpillar, Microsoft and Wal-Mart, all have rapidly growing foreign markets. Multinationals and mid-sized firms are still hiring thousands in America as well. At present, Hound, a job search engine has found 130,000 jobs from employer websites across the country.

Hound is the world leader in the monitoring and reporting of jobs on employer websites, through its active and growing research into all employers throughout the world. With over 300 employees working round the clock, Hound goes to employer websites, collects information about job openings, and reports everything it finds to its members. There are over 700,000 employer jobs listed currently on the site.

Hound has been named one of the Top 20 Best Job Sites by PC Magazine, the #1 Job website by Applicant.com and+ among the 10 Best Online Job Search Sites by geeksugar. Hound is a company owned by Employment Research Institute, one of the world's largest conglomerates of job search-related companies.

Roger Croft
Address : 202 S Lake Ave, Unit 250
City/Town : Pasadena
State/Province : California
Zip : 91101
Country : United States

This release was published on openPR.