Chinese trade deficit taking a toll on jobs in N.J., U.S., study says

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According to a study released Thursday by the Economic Policy Institute, America’s rising trade deficit with China has cost the U.S. more than 3.2 million jobs between 2001 (when China joined the World Trade Organization) and 2013.According to a study released Thursday by the Economic Policy Institute, America’s rising trade deficit with China has cost the U.S. more than 3.2 million jobs between 2001 (when China joined the World Trade Organization) and 2013.

About 92,000 of those jobs were in New Jersey alone, ranking New Jersey 11^th in the nation in jobs lost to China.

And 2.4 million of the 3.2 million jobs lost nationwide were in the manufacturing industry, accounting for approximately two-thirds of all U.S. manufacturing jobs lost or displaced during that time.

“This report leaves no doubt, if there ever was any, that the nation’s staggering trade deficit with China continues to be the single biggest impediment to a true jobs recovery, especially in regions with heavy concentrations of high-tech manufacturing,” Scott Paul, president of the Alliance for American Manufacturing, said in a news release.

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