Ohio lost 112,500 jobs in 2015 resulting from the United States’ trade deficit with countries that are part of the Trans-Pacific Partnership agreement, according to an analysis by the Economic Policy Institute.
That places Ohio sixth, in terms of the percentage of jobs lost to trade with TPP countries, among the 50 states and the District of Columbia ranked in the report released Thursday by the liberal Washington, D.C.-based think tank. The lost jobs represent nearly 2.2 percent of employment in Ohio, according to the analysis.
The total number of lost jobs includes those directly and indirectly impacted by the trade deficit with TPP countries. It also includes the number of jobs EPI says would have been created through the multiplier or “respending” effect had trade with those countries been more balanced.
The TPP is a free trade agreement between the United States and 11 partnership countries, including Canada, Mexico, Japan, Singapore and Malaysia. While the countries have reached final agreement on the trade accord, it probably will not go into effect for several months. The agreement must clear several hurdles, including final ratification by Congress.