“…While most of the lost jobs are in manufacturing or in telephone call centers, lately the work sent abroad has climbed way up the skills ladder to include workers like aeronautical engineers, software designers and stock analysts as China, Russia and India, with big stocks of educated workers, merge rapidly into the global labor market.

‘All of a sudden you have a huge influx of skilled people; that is a very disruptive process,’ said Craig R. Barrett, chief executive of Intel, the computer chip manufacturer.

Intel itself has maintained a fairly steady 60 percent of its employees in the United States. But in the past year or so, it has added 1,000 software engineers in China and India, doing work that in the past might have been done by people hired in the United States. ‘To be competitive, we have to move up the skill chain overseas,’ Mr. Barrett said….” Free registration required to read the story on the New York Times website.