After losing so many manufacturing jobs overseas, why has our unemployment remained low prior to this crisis?

We clearly have a trade deficit, which means we are more interested in other country's goods, than they are in ours. Considering our high cost structure, this is no surprise to me. My fear is global financial companies like Bank of America, Citi, AIG, Merrill Lynch, etc, have been making up for lost manufacturing jobs, and now they are permanently damaged, and selling off divisions to other countries. What are your thoughts?

Asked By: Oppenheimer - 2/11/2009
Best Answer - Chosen by Asker
Unemployment remained low because of... More
Answered By: nothingconstant - 2/11/2009
Additional Answers (4)
It isn't the unemployment that remains low, it's the unemployment claims that remain low. Once you exhaust your benefits, you are no longer in the statistics as being unemployed even though you are not working. The sneaky government doesn't tell you that.
Answered By: Bobbi - 2/11/2009
Free trade is the serial killer of American manufacturing and the Trojan Horse of World Government. It is the primrose path to the loss of economic independence and national sovereignty. Free trade is a bright shining lie. Pat Buchanan
Answered By: Roboron - 2/11/2009
This is an artificially forced recession. Every time Obama's Bill is not passed he goes on TV and creates mass hysteria and then gets the big companies to have massive layoffs to scare the public. Scare tactics are not what I want from a President. Obama is selling our country.
Answered By: Linda K - 2/11/2009
Because, like when we moved for agriculture to manufacturing, people learned new skills. That is what we, in America have to do again, learn the new skills to meet the new job requirements. So far, our National School system wants to throw more money after a bad investment since until you get the individual and the... More
Answered By: andy - 2/11/2009
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