The West is offshoring white-collar jobs

09/13/2013 | CNNMoney/Fortune

Since 2008, the U.S. and Europe have lost about 1.5 million white-collar positions, which have been moved to other countries. Back-end functions, including human resources and finance, can be combined into an umbrella department and located anywhere. "India and China's labor costs are still nowhere near those of the U.S. and Europe. Yes, costs in Asia are rising -- but ours are rising, too," says Honorio Padron, an analyst who helped produce a study on white-collar offshoring.

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