Conservatively Speaking

State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend, the town of Vernon and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.

WI jobs lost to China

Economy


China
is killing the United States

A Washington, D.C. think tank, the Economic Policy Institute reports that since China became a member of the World Trade organization during 2001, at least 2.4 million American jobs have been lost as a result of increased U.S. trade with China. Contributing factors include our ever-growing debt, lost export capacity, and our trade deficit.
Manufacturers of computers, electronic equipment, and parts have been hit especially hard with 627,700 (26 percent) of all jobs lost between 2001 and 2008.

Also to blame  is competition with low-wage workers from less-developed countries that  has  driven down wages for other workers in manufacturing and reduced the wages and bargaining power of similar workers throughout the economy.  Virtually all production workers with less than a four-year college degree, approximately 70 percent of the private-sector workforce, or about 100 million workers have been affected. The Institute reports that for a typical full-time median-wage earner during 2006, these indirect losses totaled approximately $1,400 per worker.

Looking at net jobs lost between 2001 and 2008, Wisconsin ranks number 15 among the states with 52,300 jobs lost. Ranking the states based on net job loss by share of state employment, Wisconsin comes in at number 14 with 52,300 jobs lost representing 1.84 percent of total state employment of 2,849,100.

What can be done?

The Institute report concludes: “The U.S-China trade relationship needs a fundamental change. Addressing the exchange rate policies and labor standards issues in the Chinese economy are important first steps.”

You can read the Institute’s study here. 

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.

Page Tools

Advertisement

Archives