BLS’ monthly estimates of state and local unemployment and employment rates historically include the 50 states and the District of Columbia. With American jobs being outsourced to India, BLS should include the states of Karnataka and Haryana.
JPMorgan Chase has received $25 billion in TARP funds. In the latest bailout outrage, JPMorgan has used American taxpayers’ dollars to establish call centers in Bangalore and Gurgaon to provide assistance to food stamp recipients.
JP Morgan provides debit cards for food stamps in 26 states and DC. ABC News reports:
JP Morgan is the only one today still operating public-assistance call centers overseas. The company refused to say which states had calls routed to India and which ones had calls stay domestically. That decision, the company said, was often left up to the individual states…
Indian call-center employees typically earn about $2.50 to $3.50 an hour, roughly 70 percent less than their American counterparts, said Jagdish Dalal, a managing director at the New York-based International Association of Outsourcing Professionals.
ABC also reports that JP Morgan is routing calls to Rhode Island’s Unemployment Insurance Call Center to India. Rhode Island’s unemployment rate is 10.5 percent.
So, chew on this: More than 5 million jobs have been lost since the recession began in December 2007. But JP Morgan is using our money to bolster its bottom and create jobs overseas.
