Why Gains for U.S. Workers Are Good for the World
For half a century, America鈥檚 wage problem has also been the world鈥檚 trade problem. Since the mid-1970s, the United States has stood out among rich countries for its , nearly one-quarter of the total workforce. That is three times the rate of France and more than twice that in Japan. And that high percentage has knock-on effects far into the middle class: Many better-paid U.S. workers鈥攅specially those in trade-exposed manufacturing industries鈥攈ave had good reason to fear they are just one layoff away from being thrown into a huge pool of workers competing for poorly paid jobs in retail, health services, and fast food chains. That worry why Americans have voted for leaders who promise to protect industries such as steel and automobiles, which offer a dwindling number of good jobs.
The COVID-19 pandemic, however, may turn that story on its head, with lasting consequences both for the U.S. labor market and for trade relations with other countries.
Column by , a columnist at Foreign Policy, Ross Distinguished Visiting Professor at Western Washington University, and a senior fellow at the Council on Foreign Relations.