International Trade - Trade and Employment


Jobs are created and lost all the time. When the jobs that are lost reappear again soon afterwards in another country, it can seem that international trade makes unemployment worse or that it makes jobs less secure and lowers wages. There is clear evidence that open economies achieve higher levels of wages and economic growth. But trade is only one of many factors at play. A wide array of policies is needed, from education and health to infrastructure and innovation. Effective labour market policies are needed to ensure that the benefits are shared equitably.

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Chapter 6 tackles the argument, quoted above, that international trade means “exporting jobs”. It
describes the impact of trade on particular countries and sectors of the economy and identifies the likely winners and losers.

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