Tags: trade | china | jobs

Study: U.S.-China Trade Deficit Still a Job Killer

Thursday, 30 Aug 2012 12:31 PM

By Sandy Fitzgerald

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The U.S.-China trade deficit is still taking a toll on American jobs, leaving elected officials from New Hampshire to California scrambling to figure out how to address a growing problem, according to a report in the New Hampshire Union Leader.
 
The newspaper reported Thursday that a study from the Economic Policy Institute in Washington, D.C., attributes the loss of at least 20,000 jobs in New Hampshire to the trade deficit over the past 10 years.
 
While that may seem like a small number when compared to California, which the study said  has lost 474,700 jobs, or Texas with 239,600 lost jobs, New Hampshire's loss relative to its work force was deemed by the study to be the most severe in the country.

“The EPI report offers convincing evidence that unless China's trade violations and currency manipulations are challenged forcefully, our growing trade deficit will continue to cripple the fledgling U.S. jobs recovery,” said Scott Paul, executive director of the Alliance for American Manufacturing.
 
However, Chris Way, New Hampshire's interim director of economic development, expressed reservations about the study, which he said relied on the dollar value of trade rather than actual job counts in its analysis.  But Way said he has no doubts that New Hampshire has been hurt by job losses in manufacturing. 
 
Way agreed with the report's assessment, though, that most of the jobs lost in recent years have been concentrated in the electronics and high-tech manufacturing industries.

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