Whom Free Trade Hurts

Oct 17 2011 @ 10:35am

Free_trade

The old and the uneducated. The abstract of a new report:

Fair trade holds the promise of economic gains for the United States and our trading partners alike, but these gains do not come without a cost. Older workers and those without a college education are more vulnerable to the job losses that result from free trade – and these are precisely the same groups that face the most difficulties getting back on their feet in the current economy.

While young people and college-educated workers may have the freedom and resources to move across the country in search of better opportunities, older Americans and those with less education often lack this mobility. The poor state of the housing market further constrains mobility, especially for those struggling to pay off their existing mortgages. Moreover, jobs are hard to come by for individuals without a college degree, and opportunities are likely to remain scarce in the years ahead, since most of the jobs expected to be created are in sectors that require education beyond high school. 

(Hat tip: Economix)