After losing so many manufacturing jobs overseas, why has our unemployment remained low prior to this crisis?

We clearly have a trade deficit, which means we are more interested in other country's goods, than they are in ours. Considering our high cost structure, this is no surprise to me. My fear is global financial companies like Bank of America, Citi, AIG, Merrill Lynch, etc, have been making up for lost manufacturing jobs, and now they are permanently damaged, and selling off divisions to other countries. What are your thoughts?