Thursday, September 15, 2011

Corporate Profits And Jobs

If the above chart does not explain it enough, here are some numbers that I picked up over at Journey Home.
  • Taxpayers will hand out nearly $100 billion in tax breaks and loopholes to oil and gas companies in the coming decades.
  • Just in 2010 alone, the top five oil companies (the above four, plus ConocoPhillips) reduced their global workforce by a combined 4,400 employees, while making a combined $73 billion in profits. 
  • Despite generating $546 billion in profits between 2005 and 2010, ExxonMobil, Chevron, Shell and BP combined to reduce their U.S. workforce by 11,200 employees over that time
  • every $1 billion of military spending costs anywhere between 3,200 and 11,700 jobs or more when compared to other ways of spending the money. 
  • Overall, today’s clean economy establishments added half a million jobs between 2003 and 2010, expanding at an annual rate of 3.4 percent.
  • Though modest in size, the clean energy and tech industries already employ more workers than the fossil fuel industry; some 2.7 million jobs spread across a diverse group of industries. 
Corporate profits do not create jobs.


  1. What we ought to do is take all the additional profits represented by the blue line, rightward from where the lines cross, and give them to the 19 million to 25 million people whose misfortune is charted by the red line, rightward from where the lines cross.

    A very informative post.


  3. Corporate unprofits are not good for jobs either .