Do Not Blame Trade for the Decline in Manufacturing Jobs

Released on by Stephen J. Rose
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  • Do Not Blame Trade for the Decline in Manufacturing Jobs Book Detail

  • Author : Stephen J. Rose
  • Release Date : 2021
  • Publisher :
  • Genre : Commerce
  • Pages : 14
  • ISBN 13 :
  • File Size : 56,56 MB
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Do Not Blame Trade for the Decline in Manufacturing Jobs by Stephen J. Rose PDF Summary

Book Description: The import problem is that anti-trader perspectives have focused on the several million jobs lost by manufacturing firms. As shown above, this is a small number, and the involuntary separations of American-based companies dwarf the negative effect of trade. The bottom line is that almost the entire decline from 32 percent of the labor force in 1955 to 8 percent in 2019 was not caused by imports but by higher productivity. This is a worldwide phenomenon, as even Germany and other countries with positive trade balances also had their shares of manufacturing employment suffer comparable declines. Job losses in Europe have been less contentious because European governments generally provide greater income and training support for displaced workers.

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