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Dollars Decline Makes US a Cheaper Place to do Business

United States May Be a Bargain, But Is Lacking in Brains

The US has become more cost competitive than ever before and has therefore moved up on the list of the most cost-efficient places in the world. The plunging dollar has made the US a cheaper place to do business than France, Britain, the Netherlands, and Italy.

The value of the Canadian dollar, Australian dollar, British pound, and other currencies have increased in double digits compared to the dollar, but Mexico is still the cheapest place to do business. The cheapest places in the US are Atlanta, Tampa, and the Dallas-Fort Worth area.

So if more businesses keep their factories in the US, will there be enough workers to fill their needs? AT&T has found that so far, the answer is no. The company has promised to bring 5,000 jobs from India back to the States but hasn't been able to find enough skilled workers to fill the positions. AT&T Chief Executive Randall Stephenson said he's especially alarmed by high school dropout rates as high as 50 percent in some areas. He explained, "We're able to do new product engineering in Bangalore as easily as we're able to do it in Austin, Texas. I know you don't like hearing that, but that's the way it is." His solution? A stronger US focus on education and keeping jobs — no small feat.


Join The Conversation
karlorene karlorene 9 years
its true... we need college to be more affordable. correct me if i'm wrong, but when i studied abroad in germany, i believe that no one had to pay for school? obviously that'd be a bit of an incentive! not that i know how to be miss fix it lol
gitwenty5 gitwenty5 9 years
I grew up in Toronto, where 38% of the demographic has a post-secondary degree, one of the highest in North America. This happens because all universities in Canada are public, as well as most colleges. However, we have VERY high income tax rates, upwards to 60% for very rich. Even when working part-time I was taxed 35% during my teens and early college years. This is the same in a lot of first-world European countries, like Holland. A lot of of my friends often are outsourced to the states, especially if they are in the IT field or accounting/finance. Often times they are sent to towns like Delaware two-three days a week to work. The companies fly them down, provide housing, and fly them back to Toronto weekly, go figure.
princessjaslew princessjaslew 9 years
its true though. the problem is that people think about the years of schooling/training needed, and the cost needed to get there and get put off by it. the problem is that with student loans declining, the situation is only going to get worse
Jude-C Jude-C 9 years
I've been saying this for a while--the problem isn't just outsourcing, but a lack of quality candidates within our own borders. Agreed with Stephenson here.
bigestivediscuit bigestivediscuit 9 years
I've never felt that education was valued or considered a focus (at least, a serious focus) in the U.S. I'm not shocked or surprised by the lack of skilled workers to fill these positions - it's just sad.
bellaressa bellaressa 9 years
This is horrible, I wonder will companies start bringing more business here - I doubt it. Will some of the United States' businesses bring back their business to the US not likely. So, what does this really mean for the dollar, it's cheap to shop here if your outside of the US. What do we really need to do to stimulate our economy, we can't just go down.
Shopaholichunny Shopaholichunny 9 years
Sad but very TRUE.
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