2.3 MILLION JOBS LOST TO CHINA - $20 Billion In Wages Gone

(08/01/2008)

By Bob Weaver

Unbalanced U.S. trade with China since 2001 has had a devastating effect on U.S. workers.

Between 2001 and 2007, 2.3 million jobs were lost or displaced, including 366,000 in 2007 alone.

Lost US wages are about $20 billion dollars to China.

The Columbus Dispatch reported this week that Ohio has lost 100,000 jobs to China during the period, in addition to tens of thousands of other jobs that have been globalized.

In West Virginia, thousands of jobs have been lost, mostly low-wage jobs (minimum wage to $10 an hour) that once provided some benefits, although many high-end jobs have also gone to foreign countries.

The Herald has contended that at least 30,000 jobs have left the state during the past ten years, from Kinney Shoes, Kellwood, BF Goodrich to high paying chemical jobs.

These jobs were displaced by the growth of the U.S. trade deficit with China.

During the Bush administration, the China trade deficit increased from $84 billion in 2001 to $262 billion in 2007.

Rapidly growing imports of computers and electronic parts, once the creation of American technology, accounted for almost half of the $178 billion increase and eliminated 561,000 U.S. jobs.

The study is based on data from the Bureau of Labor Statistics, the Census Bureau and the U.S. International Trade Commission.


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