Page 12 - SCBJ-201611
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HLIGHT International trade was a major theme in the
opening half hour the first presidential debate
After the between Hillary Clinton and Donald Trump.
Debates: Unfortunately, they ran roughshod over the
Correcting facts—as they’ve both done repeatedly during
the presidential campaign. What’s the reality on
the trade and the American economy?
Candidates Donald Trump: “Our jobs are fleeing the country. They’re going to
on Trade Mexico. They’re going to many other countries… They’re leaving, and
they’re leaving in bigger numbers than ever.”
by John G. Murphy,
Senior Vice President for International On balance, this is nonsense. In fact, investments supporting millions
Policy, U.S. Chamber of Commerce of American jobs have poured into the United States in recent years.
Foreign companies have invested $3.1 trillion in the United States
10 and directly employ more than 6.4 million Americans with an annual
payroll of more than $400 billion, according to the U.S. Department of
Commerce.
That’s just the direct jobs. According to a study by the Organization
for International Investment (OFII), investments in the United
States from abroad support 24.3 million American jobs directly and
indirectly.
And that’s not all. U.S. affiliates of foreign-headquartered companies
purchase billions of dollars’ worth of inputs from local suppliers and
small businesses, according to OFII.
Not only has the U.S. economy generated 14 million jobs over the past
six years (net), “offshoring” is a minor contributor to job loss. While it
discontinued compilation of these data in 2004, the Bureau of Labor
Statistics previously reported the movement of work to overseas
locations represented between 0.5% and 1.3% of all U.S. jobs lost in
“mass layoffs” in the 1997-2003 period, according to a report by the
American Action Forum.
By contrast, “almost 88 percent of job losses in manufacturing in
recent years can be attributable to productivity growth,” according to a
report by economists with Ball State University.
Hillary Clinton: “When I was in the Senate, I had a number of trade
deals that came before me, and I held them all to the same test. Will
they create jobs in America? Will they raise incomes in America? And
are they good for our national security?”
opening half hour the first presidential debate
After the between Hillary Clinton and Donald Trump.
Debates: Unfortunately, they ran roughshod over the
Correcting facts—as they’ve both done repeatedly during
the presidential campaign. What’s the reality on
the trade and the American economy?
Candidates Donald Trump: “Our jobs are fleeing the country. They’re going to
on Trade Mexico. They’re going to many other countries… They’re leaving, and
they’re leaving in bigger numbers than ever.”
by John G. Murphy,
Senior Vice President for International On balance, this is nonsense. In fact, investments supporting millions
Policy, U.S. Chamber of Commerce of American jobs have poured into the United States in recent years.
Foreign companies have invested $3.1 trillion in the United States
10 and directly employ more than 6.4 million Americans with an annual
payroll of more than $400 billion, according to the U.S. Department of
Commerce.
That’s just the direct jobs. According to a study by the Organization
for International Investment (OFII), investments in the United
States from abroad support 24.3 million American jobs directly and
indirectly.
And that’s not all. U.S. affiliates of foreign-headquartered companies
purchase billions of dollars’ worth of inputs from local suppliers and
small businesses, according to OFII.
Not only has the U.S. economy generated 14 million jobs over the past
six years (net), “offshoring” is a minor contributor to job loss. While it
discontinued compilation of these data in 2004, the Bureau of Labor
Statistics previously reported the movement of work to overseas
locations represented between 0.5% and 1.3% of all U.S. jobs lost in
“mass layoffs” in the 1997-2003 period, according to a report by the
American Action Forum.
By contrast, “almost 88 percent of job losses in manufacturing in
recent years can be attributable to productivity growth,” according to a
report by economists with Ball State University.
Hillary Clinton: “When I was in the Senate, I had a number of trade
deals that came before me, and I held them all to the same test. Will
they create jobs in America? Will they raise incomes in America? And
are they good for our national security?”
