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The 25 American industries most likely to lose hundreds of jobs if the US-China trade war continues
The 25 American industries most likely to lose hundreds of jobs if the US-China trade war continues
Allana AkhtarNov 11, 2019, 20:18 IST
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Bankrate determined the 25 industries that have lost the most US jobs as a result of the US-China trade war using data from the Economic Policy Institute.
Computer and electronic parts manufacturing cut 1,209,900 jobs between 2001 and 2017. China entered the World Trade Organization in 2001.
Other impacted industries include transportation and wholesale trade.
The US manufacturing sector slipped into a recession this year, and the Commerce Department said Monday factory goods orders fell 0.6% in September.
In fact, manufacturing industries have suffered some of the worst job losses between 2001 to 2017, according to a new Bankrate analysis.
Bankrate analyzed the 25 industries that lost the most US jobs as a result of the trade war. Bankrate used data from an extensive 2018 study from the Economic Policy Institute that measured job loss and job displacement between 2001, when China entered the World Trade Organization, and 2017. Learn more about the study's methodology here.
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Industries focused on manufacturing goods like metals, furniture, electronics, and semiconductors lost thousands of jobs within this time period. For the US computer manufacturing industry, 36% of all US jobs have been displaced - either lost or moved elsewhere - since the trade war began.
Here are the 25 industries set to suffer the worst job losses because of the ongoing trade war: