WASHINGTON, June 14 (UPI) -- The health of U.S. corporations has less to do with the health of the U.S. economy than ever before, recent data suggests.
The Commerce Department said the largest U.S. firms that do business abroad hired 2.4 million workers in other countries between 1999 and 2009. In the same decade, the same companies reduced their U.S. workforce by 2.9 million, The Washington Post reported Tuesday.
Economist Josh Bivens at the Economic Policy Institute noted, "In the last couple recoveries, and especially in this one, you've seen corporate profits improve and even reach their pre-recession levels much quicker than the labor market."
Click here to read the entire article at UPI.