Study: NAFTA has cost NY-26 more than 1,800 jobs
New York is the fifth hardest hit state in the union in terms of jobs lost since the ratification of NAFTA, according to a study released by the Economic Policy Institute, and in New York, the NY-26 Congressional District has lost the most jobs after the NY-29.
The 26th district, which is currently up for grabs in a May 24 special election, has lost 1,800 jobs since 1994.
The study does note that some of the job loss may have been driven by the recent economic downturn, but says in all more than 500,000 U.S. jobs were displaced as a direct result of the ratification of NAFTA.
New York has lost 34,300 jobs. Most of the jobs were in the manufacturing sector.
The study takes into account new U.S. jobs created as a result of trade with Mexico.
Before the passage of NAFTA, the U.S. had a trade surplus with Mexico of $1.6 billion. By 2010, the trade deficit with Mexico had climbed to $97.2 billion.
The introduction to the report reads:
Prominent economists and U.S. government officials predicted that the North American Free Trade Agreement (NAFTA) would lead to growing trade surpluses with Mexico and that hundreds of thousands of jobs would be gained (Hufbauer and Schott 1993; President Clinton 1993). The evidence shows that the predicted surpluses in the wake of NAFTA’s enactment in 1994 did not materialize, for reasons outlined in this briefing paper. However, congressional leaders and administration officials now make nearly identical claims about export growth and job creation under the proposed U.S.-Korea Free Trade Agreement (KORUS FTA).
Wikipedia describes EPI as a liberal, nonpartisan think tank.
The next representative of the NY-26 will likely be asked to vote on three new trade deals with South Korea, Colombia and Panama, which is why we asked the four candidates for their positions on free trade.
Kathy Hochul, Jack Davis and Ian Murphy all said they oppose NAFTA. Jane Corwin said, "I am a believer in the free markets and free trade but it must also be fair trade."
Asked specifically whether they would vote yes or no on the South Korean pact, Hochul, Davis and Murphy all said, "No." Corwin did not answer the question.
(via Buffalo First)