Apple takes credit for creating 514,000 jobs in the U.S. but in a new report Business Insider says it has destroyed over 490,000.
According to the site, Apple's figure includes its corporate and retail employees as well as anyone remotely related to its business such as FedEx and UPS employees.
After looking at data on Bloomberg, dozens of 10-Ks, and layoff announcements, they found that Apple destroyed nearly as many jobs as it helped created, eliminating some 490,570 job positions.
Business Insider identified some 50 companies that Apple's success has impacted, including big names like IBM and HP, and smaller ones like Barnes & Noble and Adobe. Some companies and peers prospered. Most did not, announcing a combined 306,606 layoffs over the past several years.
Using data from the Economic Policy Institute, coupled with average pay in industries that saw lay offs because of Apple's success, Business Insider estimated the additional loss to the employment picture at some 180,000 jobs.
Hit the link below to read a more in depth description of how Business Insider came up with their estimate of jobs destroyed.
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According to the site, Apple's figure includes its corporate and retail employees as well as anyone remotely related to its business such as FedEx and UPS employees.
After looking at data on Bloomberg, dozens of 10-Ks, and layoff announcements, they found that Apple destroyed nearly as many jobs as it helped created, eliminating some 490,570 job positions.
Business Insider identified some 50 companies that Apple's success has impacted, including big names like IBM and HP, and smaller ones like Barnes & Noble and Adobe. Some companies and peers prospered. Most did not, announcing a combined 306,606 layoffs over the past several years.
Using data from the Economic Policy Institute, coupled with average pay in industries that saw lay offs because of Apple's success, Business Insider estimated the additional loss to the employment picture at some 180,000 jobs.
Hit the link below to read a more in depth description of how Business Insider came up with their estimate of jobs destroyed.
Read More