Friday, 5 August 2016

Wonkbook: How many foreign workers' jobs would you cut to save one U.S. worker's job?

By Max Ehrenfreund Americans are hard to pin down when it comes to international trade. In surveys, participants give wildly different answers when asked about the issue, depending on how pollsters phrase their questions. On the one hand, 58 percent of Americans say that international trade is more of an opportunity than a threat, according to Gallup. Yet 2 in …
 
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Delegates protesting against the Trans-Pacific Partnership hold up signs during the first sesssion at the Democratic National Convention in Philadelphia on Monday. REUTERS/Carlos Barria

Delegates protesting the Trans-Pacific Partnership hold up signs at the Democratic National Convention in Philadelphia last month. (Carlos Barria/Reuters)

By Max Ehrenfreund

Americans are hard to pin down when it comes to international trade. In surveys, participants give wildly different answers when asked about the issue, depending on how pollsters phrase their questions. On the one hand, 58 percent of Americans say that international trade is more of an opportunity than a threat, according to Gallup. Yet 2 in 3 say there should be more restrictions on imported goods, a Bloomberg poll found.

A new academic paper could help explain some of these contradictions. The study, which will be published in the journal International Organization, suggests that Americans will support international commerce, but only as long as it benefits the United States. A draft of the study was released online Thursday.

Many economists argue that trade enriches both the United States and foreign countries, but only about 1 in 9 Americans see it that way, the study found. They support trade in theory, but their experience — closed factories, reduced wages — makes them skeptical of the broader benefits for the country.

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Read the rest on Wonkblog.


 

Number of the day

255,000.

That is the number of positions employers created in July, according to the monthly report released Friday by the Bureau of Labor Statistics. Ylan Q. Mui has more.


 

Top policy tweets

"HOLY COW, BATMAN
Payrolls +255k!!! Well above expectations (of +180k)
Revisions add +18k to past two months.
Unemployment remains at 4.9%" -- @JustinWolfers

"With inflation around 1%, this means real wages are growing 1.5+% a year. That's pretty good, and long overdue." -- @DLeonhardt

"The jobs report gives a hint to the issues driving this election: women's participation & employment rose while men's fell." -- @BetseyStevenson

"These kinds of jobs numbers make it more difficult to run as the guy who is going to fix the economy." -- @BCAppelbaum

"The contrast in reactions to the May and July jobs reports are important reminders that we should never read too much into one month's data." -- @BenSpielberg

 
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