Job creation with domestic inputs only (100% Buy America Scenario): US export promotion, infrastructure, clean energy and efficiency investments, 2019-2024
| Economic impact (billions of dollars) | ||||
|---|---|---|---|---|
| 2019 | 2024 | Change | Percent change |
|
| U.S. trade- and investment related jobs supported and displaced (thousands of jobs)–Direct and Indirect jobs only | ||||
| U.S. total exports–jobs supported | 8,852.5 | 14,516.9 | 5,664.4 | |
| U.S. general imports–jobs displaced | 14,830.4 | 16,210.2 | 1,379.8 | |
| U.S. trade balance–net jobs gained or lost | (5,977.9) | (1,693.3) | 4,284.6 | 22.1% |
| Infrastructure Investments (per year) | – | 2,209.8 | 2,209.8 | 6.7% |
| Clean energy and efficiency investments (per year) | – | 1,554.0 | 1,554.0 | 18.1% |
| Total direct and indirect jobs created | 8,048.4 | 16.7% | ||
| Respending jobs | – | 6,258.5 | 6,258.5 | 3.9% |
| Range of potential, jobs creation, including respending | 6,258.5 | 8,048.4 to 14,307.0 | ||
| Employment impact (xxxxx) | ||||
| 2019 | 2024 | Change | Percent change | |
| Increase (gain from complete Buy American) | Direct & indirect only | Including respending | ||
| Jobs | 1,153.2 | 1,390.8 | ||
| Percent | 16.7% | 10.8% | ||
Notes: Investments and spending at these levels will support continuing employment as long spending is sustained at level in future years. For example, Joe Biden announced a plan for $2 trillion investments over four years in clean energy and strengthening infrastructure (Glueck and Friedman 2020). Percent increased relative to same row in Table 1
Source: Authors’ analysis of American Community Survey (ACS) data (U.S. Census Bureau 2019a and 2020a), USITC 2020, Bureau of Labor Statistics Employment Projections program 2020b, and author's projections for trade in 2024; and Pollin, Garrett-Peltier, Heintz and Hendricks 2014, Pollin and Chakraborty 2020, and Chakraborty (personal communication 2020) for infrastructure and climate investments. For a more detailed explanation of data sources and computations, see the appendix.
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