Annual economic and employment impacts of promoting U.S. exports and investing in infrastructure, clean energy, and energy efficiency by 2024

Economic impact (billions of dollars)
2019 2024 Change Percent
U.S. total exports (before and after export promotion policies) $1,643.2 $2,704.9 $1,061.7 64.6%
U.S. general imports (before and after export promotion policies) $2,497.5 $2,704.9 $207.4 8.3%
U.S. trade balance (before and after export promotion policies) -$854.3 $0.0 $854.3
Infrastructure investments (per year) $0.0 $250.0 $250.0
Clean energy and efficiency investments (per year) $0.0 $250.0 $250.0
Total new spending on domestic goods and services (per year) $1,354.3 $1,354.3
Total respending (60% of new domestic spending of $1,354.3 billion) $812.6
Employment impact
2019 2024 Change Total jobs with respending
U.S. total exports–jobs supported (before and after export promotion policies) 7,507,400 12,210,300 4,702,900
U.S. general imports–jobs displaced (before and after export promotion policies) 12,647,400 13,842,100 1,194,700
U.S. trade balance–net jobs supported (before and after export promotion policies) -5,140,000 -1,631,800 3,508,200 6,571,600
Infrastructure investments (permanent jobs supported*) 0 2,071,600 2,071,600 3,880,600
Climate, clean energy and efficiency investments (permanent jobs supported*) 0 1,315,400 1,315,400 2,464,000
Total direct and indirect jobs supported 6,895,200 12,916,200
Respending jobs 6,021,000
Range of potential jobs supported, including respending 6,895,200 to 12,916,200


Investments and spending at these levels will support continuing employment as long as spending is sustained at this level in future years. 

Note: Table estimates reflect changes in trade due to export promotion policies from baseline year 2019 and a four-year, $500 billion annual investment plan beginning in 2021.

Source: Authors’ analysis of employment requirements overall and by industry (BLS-EP 2020a) applied to trade data (USITC 2020), authors’ trade projections, and infrastructure and clean energy/energy efficiency investments at the allocations specified in Pollin and Chakraborty 2020. For a more detailed explanation of data sources and computations, see Table 1 and the text and the appendix in this report.

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