Did you know that 9.2 million jobs in the United States last year were tied directly to exports? The International Trade Administration this week issued a report,Projected Jobs Supported by Exports, 2009 and 2010, which updates an earlier ITA reportExports Support American Jobs. This report provides preliminary estimates for jobs supported by exports for 2009 and for the value of exports that support one job for 2009 and 2010. This report attempts to improve projections, provide transparency in making the projections, and provide revised estimates for 2009 and 2010. The revised estimates of jobs supported by exports are 8.7 million in 2009 and 9.2 million in 2010.
The value of exports that supports one job was $164,000 in 2009 and $181,000 for 2010. That is, the value fell slightly from 2008 to 2009 because of the recession and softness in export prices. In 2010, the value increased to $181,000 as export prices and productivity strengthened. Thus, for every billion dollars of exports, over 5,000 jobs are supported.
Not only do exports support millions of U.S. jobs, those jobs actually pay more than jobs in similar sectors unrelated to exports. Earlier work by the International Trade Administration gives an idea of how much more pay they receive. The report Weekly Earnings in Export-Intensive U.S. Services Industries estimates that workers in export-intensive services industries earn 15 to 20 percent more than comparable workers in other industries. Similarly, the report Do Jobs in Export Industries Still Pay More? And Why? estimates that exports contribute an additional 18 percent to workers’ earnings on average in the U.S. manufacturing sector.