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INTERNATIONAL TRADE SUPPORTS MORE THAN 4.7 MILLION CALIFORNIA JOBS: STUDY

INTERNATIONAL TRADE SUPPORTS MORE THAN 4.7 MILLION CALIFORNIA JOBS: STUDY

A recently released Business Roundtable study finds that international trade supports 4,710,600 jobs in California, representing one out of every five jobs in the state. 

Trade with Canada and Mexico alone supports 1,470,700 jobs in California, which should be a key factor before members of Congress deciding the fate this year of the United States-Mexico-Canada Agreement (USMCA). Exports from California to Canada and Mexico have increased by 235 percent since the implementation of the North American Free Trade Agreement (NAFTA).

“We stand united to preserve and modernize North American trade, which supports over 12 million jobs and a strong U.S. economy,” says Tom Linebarger, chairman and CEO of Cummins Inc. and chair of the Trade & International Committee for Business Roundtable, whose CEO members lead companies with more than 15 million employees and $7.5 trillion in revenues.

The study – prepared by Trade Partnership Worldwide with the latest-available employment data from 2017 – examines the net impacts of both exports and imports of goods and services on U.S. jobs in all 50 states. It also compared 2017 data to pre-NAFTA data from 1992. The study found that trade-supported jobs in California increased by 88 percent from 1992 (when NAFTA was implemented) to 2017 – nearly three times faster than total employment. 

Find the study here: https://s3.amazonaws.com/brt.org/Trade_and_American_Jobs_2019.pdf

global trade

Study Shows Global Trade Represents 1 out of 5 jobs in California

The Golden State makes news headlines once again boasting its impressive job market. The latest numbers from a study released by Business Roundtable and prepared by Trade Partnership Worldwide confirms a whopping 4,710,600 jobs are supported by global trade in California. The study gathered the most recent information available reflecting employment data from 2017.

“The CEO members of Business Roundtable, who lead companies with more than 15 million employees, strongly support congressional passage of USMCA implementing legislation this year. We stand united to preserve and modernize North American trade, which supports over 12 million jobs and a strong U.S. economy,” said Tom Linebarger, Chairman and CEO of Cummins Inc. and Chair of the Business Roundtable Trade & International Committee.

In addition to the massive employment numbers supported by global trade, California’s export market is also revealing impressive numbers. The same study also revealed goods and services exports made up 11.2 percent of the state’s overall GDP as it exported up to $59.5 billion in goods and services to Mexico and Canada in 2017.

The study in its entirety can be found here.