Since the end of 2000, total non-farm employment in Ohio has declined by 3.7%, a loss of 209,400 jobs. Issuing a report looking at the breakdown of job losses across Ohio, the American Manufacturing Trade Action Coalition (AMTAC) has release a report prepared by Dr. Charles W. McMillion, President and Chief Economist of MBG Information Services.
According to the U.S. Bureau of Labor Statistics, manufacturing employment in Ohio dropped from 1,013,200 at the end of 2000 to 777,200 at the end of 2007. The loss of 236,000 jobs over that time period represents a 23.3% decline in employment. In 2006, the average annual pay for an Ohio private sector manufacturing worker was $50,023.
Observing that the U.S. Commerce Department reported the U.S. imported $1.37 trillion in manufactured goods in 2007, American Manufacturing Trade Action Coalition (AMTAC) Executive Director Auggie Tantillo said, "Americans haven't stopped buying manufactured goods, but due to lax trade policies, a flood of imports from China and other countries have cost Ohio's manufacturing sector market share and are the chief reason why Ohio has lost 236,000 manufacturing jobs in recent years."
Also noting that imports from China accounted for more than 50% of the $499 billion U.S. trade deficit in manufactured goods in 2007, Tantillo continued, "A comprehensive policy response to China's predatory trade practices, such as its blatant currency manipulation, rebates of value-added (VAT) taxes and other export subsidies, urgently is needed. Without this, sectors of the U.S. economy subject to international competition will continue to bleed jobs and wither from the lack of capital investment."
"One would think that America's 3.4 million job losses in the U.S. manufacturing sector and another 700,000 job losses in the information sector -- the two sectors of the U.S. economy most exposed to international competition -- since the end of 2000 would provoke a more immediate and detailed policy response from the administration, all presidential candidates and the Democratic and Republican leaderships in Congress, but unfortunately, that has not been the case. The competitiveness challenge posed by China and others to U.S. manufacturers must be addressed by those parties in short order," Tantillo added.
Tantillo concluded, "America can't keep running up its 'China credit card' buying foreign manufactured goods. America has got to start producing and buying more products made in Ohio and other parts of the U.S. or we will leave our future generations owing an unsustainable debt to China and our other foreign bankers."
To view the report, "Ohio's Job Losses: 2000 to 2007: Worst Losses Since the Depression", visit:
http://www.amtacdc.org/SiteCollectionDocuments/Ohio-jobs-AMTAC%20(2).pdf
