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US companies hiring at rapid pace … overseas

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US firms created 1.4 million jobs abroad in 2010, compared to less than 1 million at home

Corporate profits are up. Stock prices are up. So why isn’t anyone hiring?

Actually, many American companies are — just maybe not in your town. They’re hiring overseas, where sales are surging and the pipeline of orders is fat.

More than half of the 15,000 people that Caterpillar Inc. has hired this year were outside the U.S. UPS is also hiring at a faster clip overseas. For both companies, sales in international markets are growing at least twice as fast as domestically.

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The trend helps explain why unemployment remains high in the United States, edging up to 9.8 percent last month, even though companies are performing well: All but 4 percent of the top 500 U.S. corporations reported profits this year, and the stock market is close to its highest point since the 2008 financial meltdown.

But the jobs are going elsewhere. The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute’s senior international economist.

FULL AP STORY FOLLOWS BELOW

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Dr. Fauci: Trump officials are only hurting the president with their ‘bizarre’ attacks on public health experts

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Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, hit back on Wednesday at officials within the Trump administration who have been trying to undermine him.

In an interview with The Atlantic, Fauci said it was strange to see the president's loyalists publicly attacking him and other public health experts.

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Trump’s push to reopen schools appears to be blowing up in his face: polls

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President Donald Trump has been adamant that schools reopen in the fall, although he has given little to no guidance for how to do so in a way that won't lead to further eruptions of the novel coronavirus.

However, Business Insider reports that the president's rush to get schools open may already be coming back to bite him.

As evidence, the publication cited several national polls that show opposition to Trump's plans.

"A Politico/Morning Consult national tracking poll released on Wednesday found that 53% of voters oppose 'fully reopening' daycares and K-12 schools, 50% oppose a full reopening of colleges and universities, and 65% oppose Trump's threats to pull federal funding from schools that don't re-open," Business Insider writes.

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Scientists fear the US could be battered by a second pandemic while still fighting COVID-19: report

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When health experts warn about the possibility of the United States suffering a “double whammy” with coronavirus, they are likely referring to two COVID-19 waves: the first wave (which has recently taken a turn for the worse in many Sun Belt states) followed by a possible second wave later this year in the fall and the winter. That’s how the Spanish flu pandemic of 1918/1919 behaved: it was brutal during the spring but even more brutal when a second wave killed millions in the fall and the winter. But in a July 15 article for The Atlantic, journalist Ed Yong describes a different type of double whammy scenario: one in which the U.S. continues to be battered by COVID-19 while a separate coronavirus emerges and inflicts widespread misery.

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