New York: American companies are on a hiring spree across their shores, specially in countries like India, China and Brazil. The reason for this is, it is in these countries that sales are growing and more orders are being placed. Case in point can be the companies Caterpillar and UPS, both of which have hired in huge numbers from overseas. Both companies are registering higher international sales than domestic ones. The trend of hiring from overseas is spelling hordes of unemployed people in U.S. In fact the unemployment rate in the country has reached 9.8 percent despite the fact that 96 percent of top 500 U.S. companies have reported profits this year. According to the The Economic Policy Institute, a Washington think tank, 1.4 million jobs have been created this year in overseas while in the U.S. less than one million jobs were created. Had the 1.4 million jobs been created in the U.S. the unemployment rate would have come down to 8.9 percent. Also the products that are made outside are sold there itself. Demands have grown in countries like India, China and Brazil. The opposite is true fr the U.S. consumer, whose needs have subdued. Americans are spending 3 percent less on clothing than they did before recession and 10 percent less on jewelry, furniture, electronics, and big appliances; as per MasterCard's SpendingPulse. So it is logical for companies to move where the market is present. Says Jeffrey Sachs, Globalization Expert and Economist at Columbia University, "Companies will go where there are fast-growing markets and big profits. What's changed is that companies today are getting top talent in emerging economies, and the U.S. has to really watch out.'' Since the future promises are shown by these emerging markets, companies are shifting their sight. David Wyss, Chief Economist at Standard & Poor's says, "There is a shift in economic power that's going on and will continue." He also adds that half of revenue for companies in Standard & Poor's 500 has come from outside in the last few years.