According to new research from the Economic Policy Institute, about 2.8 million U.S. jobs were “eliminated or displaced” since 2001 because of the growing U.S.-China trade deficit
“„The trade deficit with China grew from $84 billion in 2001, when China entered the WTO, to $278 billion in 2010. It eliminated or displaced 2,790,100 jobs, or about 2% of total U.S. employment over that period. The biggest net losses, in terms of the total number of jobs displaced, occurred in California, Texas, New York, Illinois, Florida, North Carolina, Pennsylvania, Ohio, Massachusetts and Georgia. In ten states, the jobs lost or displaced exceeded 2.2% of total employment. These states are New Hampshire, California, Massachusetts, Oregon, North Carolina, Minnesota, Idaho, Vermont, Colorado and Rhode Island.
“„Of the nearly 2.8 million jobs lost or displaced, 1.9 million of them were in manufacturing. These jobs represent nearly half of all U.S. manufacturing jobs lost between 2001 and 2010. The largest share of manufacturing jobs lost or displaced were in computer and electronic parts, at 909,400 jobs, or 32% of all jobs lost or displaced. Other hard-hit sectors of the manufacturing industry were apparel and accessories, textile fabrics and products, fabricated metal products, plastic and rubber products and motor vehicles and parts. Service industries, including administrative, support and waste management services experienced significant job displacement.