Spending $64 on US Gifts This Holiday Creates 200K Jobs


Posted on: November 29th, 2012 by ABC News No Comments

Jupiterimages/Thinkstock(NEW YORK) — In the 1960s, nine out of 10 holiday gifts that Americans bought were made in the U.S.  But these days, more than half of what Americans purchase for the holidays is made overseas.

In fact, according to the U.S. census, Americans spent $2.5 billion on Christmas toys made in China last year.

So with U.S. shoppers expected to spend more than $700 individually this holiday season — and the average shopper having already forked over about $423 just last weekend — what can be done to help offset this trend and keep more money flowing domestically?

All it takes is $64.  Economists say that if each American spends at least that amount on U.S. items this holiday season, they’d create 200,000 jobs.

Copyright 2012 ABC News Radio



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