How does trade affect jobs?

How does trade affect jobs?

Export supports 31 million jobs in the EU. EU trade agreements create jobs by helping European businesses export products and services easily and at competitive prices. As companies grow, they hire more staff. They’re also able to source the inputs that go into making their final products more cheaply, helping them compete.

Read more

Competition from imports encourages European firms to innovate so they can stay competitive. In some cases, though, job losses can occur, although these are often due to a mix of factors such as new technologies and automation. Where this happens, European governments can intervene with retraining and advice to help workers find new jobs. The EU also provides funds to help such people back into work.

In most EU countries, exports from the bloc to the rest of the world support more than 10% of jobs. These positions are on average better paid and more highly skilled than those not linked to exports.