Worked over Job exporters seen constraining U.S. recovery
Billionaire presidential hopeful H. Ross Perot warned America in 1992 of the “great sucking sound” of U.S. jobs flowing abroad. Today, his Perot Systems is making sucking sounds of its own.
The computer-services company recently bought India-based Vision Healthsource, described as a leading claims and billing processor for U.S. health-care providers. While Perot officials said no job cuts resulted, the new 500-employee subsidiary competes with U.S. firms, putting American jobs at risk.
After sacrificing millions of high-paying manufacturing jobs to cheaper imports, the U.S. economy now faces the unforeseen consequence of technological innovation — the loss of service-sector jobs few imagined could be exported overseas.
Some economists say the U.S. recovery is being constrained by the job outflow.