A recent study by the Economy Police Institute reveals that nearly 3 million U.S. jobs have been lost to China over the past 10 years.
According to the reported entitled, The China Toll, “the trade deficit with China eliminated or displaced more than 2.7 million U.S. jobs, over 2.1 million of which were in manufacturing.” Based on the study, 24/7 Wall St. identified the 10 states that experienced the most job loss as a result of the deficit between 2001 and 2011.
Even states with relatively low unemployment rates have been affected by the out-migration of jobs to China. For example, New Hampshire, which has a jobless rate of 5.4% experienced a nearly 3% loss of jobs between 2001 and 2011, although exports to China by that state have grown a whopping 1,032% during 2000 and 2011.
Other states which suffered job losses include, Colorado, Vermont, Idaho, North Carolina, California and Massachusetts.
The study also notes that some industries were affected more than others, according to 24/7 Wall Street. Between 2001 and 2011, the U.S. trade deficit with China grew $217.5 billion, with U.S. imports of computer and electronic parts, including computer, semiconductors and audio-video equipment, making up 55% of the total. Of the 2.1 million manufacturing jobs lost, more than 1 million were from the computer and electronic products category.
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