The percentage changes in employment can be seen in Table 2 to be relatively large in
several sectors especially in Chile, Mexico, the CAC, and South America. While, as noted, the
FTAA liberalization would be phased in over a period of years, the employment shifts noted
suggest nonetheless that there may be a need for programs of assistance for dislocated workers
who would change employment between sectors. Adjustment costs would thus have to be
factored into the assessment of the welfare effects of the FTAA for these countries/regions.