New statistics show that Idaho had the largest total percentage of lost jobs in the nation since 2001 at 2.6 percent.
According to a new study by the Economic Policy Institute, the massive U.S. trade deficit with China has hit the Gem State, which lost 14,700 jobs between 2001 and 2007, including 2,500 last year alone. Job losses in Idaho came from many sectors, including the computer and electronic products manufacturing industry, where nearly 9,000 workers were displaced.
Nationally, 2.3 million U.S. jobs were lost due to the China trade gap since Beijing’s 2001 entry into the World Trade Organization, including 366,000 jobs in 2007. The trade imbalance also pushed down U.S. workers’ wages, as workers lost an average of more than $8,000s in wages last year as they took lower-paying jobs. (Idaho Statesman)