Wage losses caused by growing U.S. trade deficits with China, 2011
| Changes in U.S. trade-related employment with China | ||||
|---|---|---|---|---|
| By education group | For minorities* | |||
| Jobs (in thousands) | Jobs (in thousands) | |||
| Jobs gained due to growing exports to China (F) | 538.0 | 179.8 | ||
| Jobs lost due to growing imports from China (G) | 3,280.2 | 1,138.6 | ||
| Net jobs lost due to growing U.S. trade deficits with China (H) | -2,742.2 | -958.8 | ||
| Trade-related gains and losses in U.S. wage income | ||||
| Wages (billions) | Wages (billions) | |||
| Net wages gained through growing exports to China (I = D x F x 52) | $2.3 | $0.2 | ||
| Net wages lost through growing imports from China (J= E x G x 52) | -$39.3 | $10.3 | ||
| Total wage losses (K = I – J) | -$37.0 | -$10.1 | ||
| Net loss per year per net displaced worker (K/H) | $13,504.58 | $10,458.29 | ||
| Addendum: | ||||
| Net losses under hypothetical balanced trade: | Wages (billions) | Wages (billions) | ||
| At 2011 export level** | -$9.9 | -$2.3 | ||
| At 2011 import level*** | -$40.6 | -$9.4 | ||
*Excludes non-Hispanic white workers.
**Assumes that U.S. exports are unchanged from their 2011 level of $96.9 billion, and that U.S. imports decrease proportionately to $96.9 billion (balanced trade).
***Assumes that U.S. imports are unchanged from their 2011 level of $398.5 billion, and that U.S. exports increase proportionately to $398.5 billion (balanced trade).
Source: Author's analysis of Current Population Survey Outgoing Rotation Group microdata, and Scott (2012)
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