The trade deal replaces 50,000 lower wage, lower skill manufacturing jobs with 50,000 higher wage, higher skill. Thus, the "wage growth" pointed to in the study is just an increase in the average.
This agreement breaks with the "rising tide" pattern of free trade agreements. After past expansions of trade, the deficit in skills between low and high skill was smaller. "Longterm unemployment and wage cuts" are exactly what folks wave away as the concerns of dumb rednecks and those uncivilized types.
Additionally, we have a pretty significant skills shortage in the economy. It's something like 5 million people. Compelling case against the trade agreement.
If you are one of the workers being displacec as this article acknowledges in low skilled manufacturing and that new job isn't going to be going to you, then yea this is not just a bad idea. This is a financial apocalypse for those families.
Failure to understand, failure to do anything to alleviate it, in preference to just letting them eat cake is precisely why we have Trump and Sanders now, it is only going to get worse. If people could just for a minute, put theirselves in that person's shoes and understand what they are going through, and seek to do something, anthing to help the situation politically might not be so bad.
Isn't that why Congress passed
Trade Adjustment Assistance along with Trade Promotion Authority last year?
And let's not forget the
Trade Enforcement Act that was passed more recently.
