EconoMeter: Will Exports Create More Jobs?
Saturday, December 10, 2011
San Diego Union-Tribune -- The question: With U.S. exports on a healthy growth curve, will San Diego share in the upswing and can we expect more jobs as a result?
Alan Gin, University of San Diego
Alan Gin Answer: Yes. The decline of the dollar has made U.S. products more competitive on the world market and boosted exports. San Diego should benefit from a gain in 2012, although the impact will not be as great as in other parts of the country. That’s because exporting will benefit manufacturing, which is a smaller share of the local economy than in the rest of the country. In October, only 7.4 percent of nonfarm wage and salary jobs in the county were in manufacturing, compared with 8.9 percent for the nation as a whole and 10.4 percent for the county at the beginning of the 2000s.
Norm Miller, University of San Diego
Norm Miller Answer: No. San Diego is a center for tourism, education, bio-tech, communications and the military. We have other industries represented by companies like Solar Turbines and ViaSat that are doing well because they are in the right industries. Yet, as we wind down military activities and cut back on defense spending, that may offset our benefits from export growth to Asia, Canada and Mexico. European exports will be hurt by a weakening euro, making our goods and services more expensive to them including travel here. We also have the additional challenge of future California taxes and labor laws steering potential employers away. (Full Story)