A recent report from the Civitas Institute has cast doubt on U.S. Treasury Secretary Scott Bessent’s claim that 3.7 million American jobs were lost due to increased Chinese imports. The study, titled "Did 'China Shock' throw millions of Americans out of work?", suggests that the figure might be exaggerated by two to four times.
The report questions the method of comparing job losses in regions heavily exposed to Chinese imports with those in less-affected areas, arguing that such contrasts miss broader, nationwide trends. In some regions, manufacturing employment even showed signs of resilience despite the pressure from rising imports.
Historically, U.S. manufacturing employment has been on a downward trend long before trade with China began expanding. With automation and increased productivity boosting manufacturing value added by $800 billion between 2001 and 2024, job shifts toward management and professional roles appear linked to ongoing economic evolution rather than trade alone.
This deep dive reminds us that economic changes are complex—and as our work landscape evolves, supporting workers through these transitions is key. Stay curious and keep exploring our dynamic economy 🚀💡.
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Report debunks U.S. Treasury chief's claim on China trade job losses
cgtn.com
