Don’t blame trade for US job losses
Feb.08, 2005 in
Economy
The US recession officially ended in late 2001, and ever since, despite recent gains, aggregate job creation has been extremely weak—weaker even than during the “jobless recovery” that followed the 1990–91 recession (Exhibit 1). Contributing most to the overall number of US jobs lost since 2000 has been the manufacturing sector, which shed 2.85 million of them from 2000 to 2003, notwithstanding the relatively mild nature of the recent downturn in the economy as a whole.




