U.S. trade gap with China cost 2.7 million jobs: study

[Peter1x9]

Last edited Fri Aug 24, 2012, 02:58 PM - Edit history (1)

http://news.yahoo.com/u-trade-gap-china-cost-2-7-million-180352879--finance.html

WASHINGTON (Reuters) - The huge U.S. trade deficit with China, fueled by Beijing's actions to depress the value of its currency, displaced or eliminated more than 2.7 million American jobs between 2001 and 2011, the labor-friendly Economic Policy Institute said on Thursday in its latest look at the issue.

Last year, the institute estimated the U.S. trade deficit with China displaced 2.8 million jobs between 2001 and 2010.

The slightly lower number in this year's report reflects changes made by the Bureau of Labor Statistics to benchmark jobs data, Scott said.


This is all they'll admit to finding (using their own models and "benchmarks" just like they do with unemployment statistics). We all know by now that it's way more than that. After all, virtually everything is "Made in China". Then there's India with all the (Insert tech company name here) IT training centers, the manufacturing stuff that went to Mexico, etc. And they still want more "free-trade" deals...

[Demeter]

1. Maybe it's per month...