Silicon Valley, November 2: Contrary to common perception, Information Technology outsourcing benefits the US economy by increasing the number of US jobs, improving real wages for American workers, and pushing the US economy to perform at a higher level, according to a new study.
"Global sourcing continues to be a net positive for American workers and the US economy," said Harris N Miller, President of information technology association of America (ITAA), the leading trade association for the it industry.
"By driving down the costs associated with computer software and services and by opening more overseas markets to US competition, global sourcing sharpens our country's competitive edge at home and abroad. The result is more American jobs, higher wages and a faster growing economy overall."
The study, conducted by global insight, found that worldwide sourcing of IT services and software generated an additional 257,042 net new US jobs in 2005, a number that is expected to rise to 337,625 by 2010. With low inflation and high productivity, global sourcing also increased real hourly wages in the US by $0.06 in 2005.
Press Trust of IndiaPosted online: Wednesday, November 02, 2005 at 1401 hours ISTUpdated: Wednesday, November 02, 2005 at 1516 hours IST
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