🇺🇸 U.S. Treasury Secretary’s Jobs Claim Under Fire as Study Points to Automation 📉
A bombshell report by the Civitas Institute is shaking up the debate over U.S.-China trade, arguing that claims of massive American job losses due to Chinese imports are 'wildly exaggerated.' 🔥 The study dismantles U.S. Treasury Secretary Scott Bessent’s assertion that 3.7 million jobs vanished, calling it a 'hyperbolic math fail' that ignores decades of economic evolution.
🔍 The ‘China Shock’ vs. the Robot Invasion 🤖
The report reveals U.S. manufacturing employment has been sliding since before WWI, long before China became a trade heavyweight. Surprise twist? Automation and rising productivity—not just imports—are starring villains here. 💡 From 2001-2024, U.S. factories lost 3.6 million jobs but boosted output by $800 billion. That’s like replacing half the workforce with machines that work 93% faster!
💼 From Factory Floors to Office Doors 🏙️
While manufacturing jobs dipped, professional roles exploded—from 18% of workers in 1960 to 32% by 2008. 'This isn’t collapse, it’s evolution,' argues economist Steve Rose. Think of it as America’s job market doing the 'Barbie' transition—out of overalls, into power suits. 💼
🌍 Global Takeaway: Policy Needs a Reboot 🛠️
The study urges leaders to stop blaming trade boogeymen and instead help workers adapt to tech-driven changes. After all, when’s the last time a robot paid union dues? 🤷♂️
