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U.K. to Lose 8 Million Jobs to Offshoring, Warns Economist

AFX
Tuesday, 8 May 2007 | 6:52 AM ET

Millions of U.K. workers are "highly likely" to find their jobs obsolete well before the end of their working lives, as a consequence of offshoring, a leading economist warned in an interview in the Daily Telegraph.

Alan Blinder, former deputy chairman of the U.S. Federal Reserve, warned that almost 8 milion U.K. workers could become redundant within the next generation as their jobs are relocated to cheaper labor markets.

Some 40 million jobs in the U.S. -- a quarter of the workforce -- are also likely to go overseas.

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