Ohio jobs created by eliminating currency manipulation, by industry, 2014*
Industry | Low impact** | High impact** | Shares of total*** |
---|---|---|---|
Agriculture, forestry, fisheries | 2,800 | 6,000 | 3.0% |
Mining | 3,100 | 6,500 | 3.2 |
Oil and gas | 2,900 | 6,200 | 3.1 |
Minerals and ores | 100 | 300 | 0.1 |
Utilities | 400 | 800 | 0.4 |
Construction | 1,100 | 2,300 | 1.2 |
Manufacturing | 36,100 | 75,900 | 38.0 |
Non-durable | 2,100 | 4,300 | 2.2 |
Food and kindred products | 1,000 | 2,000 | 1.0 |
Beverage and tobacco products | 100 | 300 | 0.1 |
Textiles and fabrics | 100 | 200 | 0.1 |
Textile mill products | 200 | 500 | 0.3 |
Apparel and accessories | 400 | 900 | 0.4 |
Leather and allied products | 200 | 500 | 0.2 |
Industrial supplies | 6,500 | 13,600 | 6.8 |
Wood products | 300 | 700 | 0.3 |
Paper | 600 | 1,200 | 0.6 |
Printed matter and related products | 400 | 900 | 0.5 |
Refined petroleum products | 100 | 200 | 0.1 |
Chemicals | 1,800 | 3,800 | 1.9 |
Plastics and rubber products | 2,300 | 4,700 | 2.4 |
Nonmetallic mineral products | 1,000 | 2,000 | 1.0 |
Durable goods | 27,600 | 58,000 | 29.1 |
Primary metals | 3,200 | 6,800 | 3.4 |
Fabricated metal products | 3,000 | 6,300 | 3.2 |
Non-specified metal products | 1,900 | 4,000 | 2.0 |
Machinery, except electrical | 6,200 | 13,000 | 6.5 |
Computer and electronic parts | 1,300 | 2,700 | 1.4 |
Computer and peripheral equipment | 100 | 100 | 0.1 |
Communications, audio, and video equipment | 400 | 800 | 0.4 |
Navigational, measuring, electromedical, and control instruments | 400 | 900 | 0.4 |
Semiconductor and other electronic components and storage media | 500 | 1,000 | 0.5 |
Electrical equipment, appliances, and components | 1,500 | 3,200 | 1.6 |
Transportation equipment | 7,100 | 14,900 | 7.5 |
Motor vehicles and parts | 6,500 | 13,600 | 6.8 |
Aerospace products and parts | 600 | 1,200 | 0.6 |
Railroad, ship, and other transportation equipment | 100 | 200 | 0.1 |
Furniture and fixtures | 900 | 1,900 | 0.9 |
Miscellaneous manufactured commodities | 2,500 | 5,200 | 2.6 |
Wholesale trade | 3,400 | 7,100 | 3.6 |
Retail trade | 6,300 | 13,200 | 6.6 |
Transportation and warehousing | 3,200 | 6,600 | 3.3 |
Information | 1,100 | 2,300 | 1.2 |
Finance and insurance | 4,100 | 8,700 | 4.3 |
Real estate and rental | 2,200 | 4,700 | 2.3 |
Professional, scientific, and technical services | 4,700 | 9,900 | 4.9 |
Management of companies | 2,800 | 6,000 | 3.0 |
Administrative and waste services | 4,900 | 10,400 | 5.2 |
Educational services | 1,300 | 2,700 | 1.3 |
Health and social services | 7,400 | 15,600 | 7.8 |
Arts, entertainment, and recreation | 1,200 | 2,500 | 1.2 |
Accommodation and food services | 4,600 | 9,600 | 4.8 |
Other services | 3,500 | 7,300 | 3.7 |
Government | 800 | 1,600 | 0.8 |
Total**** | 94,900 | 199,700 | 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.)
*** State shares are constant across industries in both scenarios, but they differ from national shares due to differences in the industrial structures of Ohio and the United States (see text for further details).
**** 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)