US job market: Four ways to cut the unemployment rate

The McKinsey Global Institute has released a set of recommendations on how to create 21 million new jobs by 2020. Here's a look at the institute's core proposals.

2. Hitch America to global engines of growth

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    Workers attend to the assembly line at a factory for German automaker BMW in Spartanburg, S.C.
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American corporations are already increasingly global in their operations, but McKinsey says the US needs to make more American workers "winners" from global commerce. The report suggests that US policymakers work especially on three tracks:

• Attracting greater direct investment by foreign companies setting up offices and factories in America.

• Helping smaller US companies become successful exporters.

• Encouraging US corporations to repatriate service operations that have been sent offshore in recent years.

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