New Mexico jobs set sail for China
The Economic Policy Institute, a liberal think tank, released a report which shows that nationwide, the United States lost 2 million jobs because of Chinese wage suppression.
This includes nearly 9,500 jobs since 2001 in New Mexico.
According to the report:
The growth of U.S. trade with China since China entered the World Trade Organization in 2001 has had a devastating effect on U.S. workers and the domestic economy. Between 2001 and 2007 2.3 million jobs were lost or displaced, including 366,000 in 2007 alone.
In New Mexico, the total was 9,400 jobs lost, with 1,500 of those jobs lost in 2007. This represents 1.24 percent of the state's work force, according to the EPI. New Mexico was let off relatively easy, and ranked near the bottom of jobs lost nationwide.
The hardest hit state was Idaho, which lost 2.59 percent of their workforce because of Chinese competition. In raw numbers, California leads the way with 325,800 jobs lost since 2001, according to the report.
While most of the jobs lost nationwide, nearly thirty percent, were those of college graduates, nearly the same number (31 percent) were between $7.23 and $11.99 per hour. Only 9.9 percent were of the highest pay grade, $30.84 per hour or more.
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