Writing for Industry Week, Adrienne Selko reports on the state of the American manufacturing sector. Essentially, the point is that while the manufacturing sector has recovered jobs since 2007, it’s still facing a net loss when compared to its state in 2002. My question revolves around the very last paragraph in the article,
“We look forward to hearing exactly what Mitt Romney and President Obama propose to do to strengthen manufacturing in the weeks ahead. And, we call on Congress to pass legislation to deter China’s currency manipulation, which has contributed to the loss of nearly 3 million American jobs over the past decade.”
This seems to me a rather unique take. It certainly seems sensible enough, since currency devaluation drives China’s export market to some extent, but is it enough to account for 3 million American jobs? What are the statistics on this? How many jobs did we lose to China, as compared to the Philippines, Mexico, Malaysia, et cetera?
Edit: Check out this summary of a UC Berkeley study on the potential impact of outsourcing on various job types. Note the extent of impact on service sector jobs. Also, while I’m not sure on sources, this website popped up high during a Google search.