Did you know...the jobs lost to China edition
Did you know that since trade between the U.S. and China was normalized a little more than a decade ago, the United States lost 2.7 million middle-class jobs due to our trade deficit with Beijing?
What does that mean for your state? The Economic Policy Institute (EPI) released a report last summer that details how many jobs each state (and even each congressional district) have lost as a result of trade with China.
The Alliance for American Manufacturing (AAM) has posted an interactive map so users can see how many jobs were lost in their state or district.
2.7 million is a huge number, and some of those jobs may never come back. It's certainly worth considering, though, that they are not all permanently lost. With a few policy changes, we could see many of those jobs return, which would lead to a much stronger middle class.
One of the steps President Obama or Congress could take right now is to declare China a currency manipulator. As we've mentioned in this space countless times, China's currency manipulation (a policy of artificially devaluing currency) creates a hidden tax on U.S. manufacturing exports.
President Obama could declare China a currency manipulator at any time, or House Speaker John Boehner (R-OH) could bring the bipartisan H.R. 1276 to a floor vote. Neither has happened yet, but in the interest of seeing more manufacturing jobs, we hope one of those things happens soon.
Related recent Blogs
- Kickstarting a manufacturing renaissance • by TGarland • 12/06/2013
- U.S. Manufacturing Gains 27,000 Jobs in November: Alliance for American Manufacturing (AAM) Statement. • by scapozzola • 12/06/2013
- Indiana manufacturing program expands • by TGarland • 12/05/2013
- Scott Paul: Keep skilled jobs for skilled workers in Washington • by mmcmullan • 12/05/2013
- December 5, 2013: Another voice for a currency rule in the TPP • by mmcmullan • 12/05/2013
- A bad time to sideline trade talks • by mmcmullan • 12/04/2013
- Infrastructure investment means job creation • by TGarland • 12/04/2013
- December 4, 2013: Familiar trade deficit doldrums • by mmcmullan • 12/04/2013
- China trade deficit on pace for new record, but will anyone notice? Alliance for American Manufacturing (AAM) Statement. • by scapozzola • 12/04/2013
- What to do with abandoned factories? Bring in the artists! • by LDonia • 12/03/2013