In my youth, I spent a lot of time traveling the globe with my parents as my father was posted to different locations in the Middle East and Asia. The cultural experience was extremely enlightening, and it gave me a different perspective on the international job market. That’s part of the reason I was interested to read a recent post on Cheezhead, the recruiter blog, about the exodus of qualified workers from the United States.
We all know times are tough, and apparently younger workers and Generation Y workers are looking abroad for better work opportunities. According to research:
“It has been estimated that workers leaving the country are costing America about $30 billion in payroll, not to mention a loss of critical expertise. And foreign governments only make it easier for workers to be successful there.”
Some recent surveys estmate that 1.6 million American households have decided to relocate, 1.8 million were seriously considering moving, and 7.7 million were seriously considering relocation. Entrepreneurs, teachers, high-tech workers, and other professionals are finding better opportunities abroad. The Panamanian government gives visas to entrepreneurs who invest $50,000 and hire at least three Panamanian workers. And in Asian countries such as China it is very inexpensive to start your own business.
Apparently, Americans are moving to Europe, Canada, Mexico, Australia, New Zealand, and Asia in search of better employment. And Central and South America is starting to become a new destination.
The Association of Americans Resident Overseas found that 5.25 million Americans are now living in more than 160 foreign countries. According to the statistics, 109,600 Americans reside in Africa, 754,000 live in the Asia and the Pacific rim, 1.48 million live in Europe, 586,000 are in the near East, 97,000 are in South Central Asia, and 2.22 live in the Western hemisphere.
So what does this mean for recruiters? It’s estimated that expatriates are costing America $30 billion in payroll as well as lost talent. But there are still plenty of jobs here in the U.S. You just have to know how to look.
