March 31, 2004

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  Treasury's Snow says jobs coming

  
  

  By John Byczkowski
  The Cincinnati Enquirer
  
  

  The outsourcing of U.S. jobs "is part of trade ... and there can't be any doubt about the fact that trade makes the economy stronger," Treasury Secretary John Snow said Monday in Cincinnati.
  

  
  

  
  
  
  

  United State Sec. of Treasury John Snow talks about the economy to Enquirer business writers and members of the Editorial Board. (Michael E. Keating photo)

  
  

  Snow said outsourcing "plays a modest role at best" in the current jobless expansion.

  
  

  Investment banker Goldman Sachs last year estimated "offshoring" accounted for 1 million of the 2.7 million manufacturing jobs lost since summer 2000.

  
  

  Asked about the outsourcing of American jobs - an emerging hot button in the presidential election - Snow at first deflected the question. "What we really talk about is jobs, and the creation of jobs."
  

  "You can outsource a lot of activities and get them done just as well at a lower cost."
  

   

  • 10:02 am
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