That is, trade deficits meant 2 million fewer manufacturing jobs and 2 million more in the service sector. Then what matters is the manufacturing trade deficit, which according to the WTO was approximately $600 billion in 2014. So, how big a deal is displacement of 2 million manufacturing jobs? Given Trump’s economic policy speech – well, “policy” speech – it seems time to brush up on trade and jobs, an issue I used to write a lot about. So this should translate into a bit over 2 million jobs.

Source: New York Times July 03, 2016 20:03 UTC