Table 3

U.S. jobs created by eliminating currency manipulation, by industry, 2014*

Industry Low impact** High impact** Shares of total***
Agriculture, forestry, fisheries  115,400  242,800 5.1%
Mining  100,300  211,300 4.5
Oil and gas  93,700  197,400 4.2
Minerals and ores  6,600  13,900 0.3
Utilities  10,200  21,600 0.5
Construction  28,900  60,900 1.3
Manufacturing  619,500  1,304,000 27.5
Non-durable  91,300  192,300 4.1
Food and kindred products  26,700  56,100 1.2
Beverage and tobacco products  3,500  7,400 0.2
Textiles and fabrics  5,800  12,100 0.3
Textile mill products  9,600  20,200 0.4
Apparel and accessories  31,200  65,800 1.4
Leather and allied products  14,500  30,600 0.6
Industrial supplies  102,200  215,000 4.5
Wood products  9,800  20,600 0.4
Paper  11,500  24,100 0.5
Printed matter and related products  9,300  19,600 0.4
Refined petroleum products  2,900  6,100 0.1
Chemicals  31,000  65,300 1.4
Plastics and rubber products  26,900  56,600 1.2
Nonmetallic mineral products  10,800  22,700 0.5
Durable goods  426,000  896,600 18.9
Primary metals  33,100  69,700 1.5
Fabricated metal products  42,000  88,300 1.9
Non-specified metal products  21,600  45,500 1.0
Machinery, except electrical  81,100  170,800 3.6
Computer and electronic parts  70,800  149,000 3.1
Computer and peripheral equipment  7,000  14,800 0.3
Communications, audio, and video equipment  18,500  39,000 0.8
Navigational, measuring, electromedical, and control instruments  18,300  38,400 0.8
Semiconductor and other electronic components and storage media  27,000  56,800 1.2
Electrical equipment, appliances, and components  23,500  49,500 1.0
Transportation equipment  73,000  153,600 3.2
Motor vehicles and parts  52,600  110,700 2.3
Aerospace products and parts  17,700  37,200 0.8
Railroad, ship, and other transportation equipment  2,700  5,700 0.1
Furniture and fixtures  23,900  50,200 1.1
Miscellaneous manufactured commodities  57,000  120,100 2.5
Wholesale trade  86,000  181,000 3.8
Retail trade  166,200  349,900 7.4
Transportation and warehousing  75,500  158,800 3.4
Information  37,400  78,600 1.7
Finance and insurance  120,800  254,200 5.4
Real estate and rental  71,400  150,200 3.2
Professional, scientific, and technical services  147,900  311,300 6.6
Management of companies  50,400  106,100 2.2
Administrative and waste services  131,600  277,000 5.9
Educational services  33,500  70,600 1.5
Health and social services  171,500  361,100 7.6
Arts, entertainment, and recreation  38,500  81,100 1.7
Accommodation and food services  122,800  258,600 5.5
Other services  100,600  211,700 4.5
Government  21,000  44,200 0.9
 Total****  2,249,400  4,735,100 100.0

* This table estimates the effects of ending currency manipulation over three years, modeled as having started in 2011.
** The IMPLAN model used to calculate real-world effects of an estimated $190.5 billion (low impact) to $399.5 billion (high impact) increase in net exports adjusts for the fact that GDP growth from direct stimulus to net exports would boost consumer spending on imports, slightly offsetting the growth in exports. (See methodological appendix for further details on the IMPLAN model.)
*** National shares are constant across industries in both scenarios.
**** Totals may vary slightly due to rounding.

Source: Authors' analysis of trade data from the U.S. International Trade Commission (2012), Bureau of Labor Statistics (2012a, 2012b), Bureau of Labor Statistics Office of Employment Projections (2011), and IMPLAN model (MIG Inc. 2012)

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