Report: More than 2 million manufacturing jobs lost

About 2.8 million jobs, largely in manufacturing, have been lost as a result of the growing U.S. trade deficit with China, since that country’s entry into the World Trade Organization in 2001, according to a study released by the Economic Policy Institute.

Colorado lost more than 55,000 jobs, according to EPI.

The growing U.S. trade deficit with China has cost jobs in every one of the nation’s congressional districts, including the District of Columbia and Puerto Rico. The computer and electronics parts industry was hit the hardest, as more than 909,400 jobs lost.

The rapidly growing number of imports of computer and electronic parts, including semiconductors and audio-video equipment, accounted for more than 44 percent of the $194 billion increase in the trade deficit with China, according to the report.

The report cites illegal currency manipulation on the part of the Chinese as one of the major causes of the trade deficit.

The 10 states most affected were: California, Texas, New York, Illinois, Florida, North Carolina, Pennsylvania, Ohio, Massachusetts and Georgia.

One Response to “Report: More than 2 million manufacturing jobs lost”

1. Todd Hollenbeck Says:
   September 20th, 2011 at 12:03 pm

   Oh no! We better get rid of all of the heavy machinery and get people to start digging foundations with spoons so we can keep those jobs alive as well. Remember, we want jobs for the sake of jobs, not wealth or productivity.

   What I really want to know is what is going to become of my huge trade deficit with McDonald’s? I have sent a lot of money their way over the years buying tasty french fries and they haven’t bought anything from me! Sure I have eaten many french fries that I wanted and they provided, but clearly if they aren’t buying an equal or greater amount of goods from me, I am worse off, right?