Question

What were the hardship suffered by the labours in the factories?

Answer 1

Answer:

Policy discussions on the long-run earnings reductions that workers experience after they lost their jobs due to a negative trade shock often focus on labour market frictions that slow down or prevent workers’ movement from declining sectors to growing ones.

For example, in their influential paper, Autor et al.(2014) find that American workers who lose their job due to import competition from China mainly stay within manufacturing, where they are repeatedly exposed to the shock and experience a long-run reduction in earnings.1

Many attribute the difficulties blue-collar workers encounter when forced to move to different jobs and sectors due to trade competition to a system with insufficient re-training opportunities, re-employment assistance, and social welfare. Is the acute pain of people who are displaced due to a trade shock and who have a hard time finding jobs a result of the US system? Does Europe, and especially the social systems of countries like Denmark, deal better with the trade adjustment costs of their workers?

My answer is both yes and no!

Here's u'r answer , mate!✌️