Even though U.S. unemployment has now reached its lowest rate in a quarter-century, protectionists continue to assert that free trade destroys American jobs -- a refrain loudly proclaimed by opponents during debate on the North American Free Trade Agreement.

In fact, unemployment has declined in all three of NAFTA's member countries -- Mexico, Canada and the U.S. -- since the pact was signed.

A survey to be released next week by the Bank of Montreal and its affiliates in the U.S. and Mexico will certify that NAFTA has had no adverse impact on jobs.

• Since NAFTA took effect in 1994, 47 percent of North American companies have gained employees and 41 percent employ about the same number -- with only 11 percent reporting reductions.

• Of 361 firms surveyed, only one company -- U.S.-based -- directly attributed its job losses to NAFTA.

• Seizing on NAFTA's success, Mexico has been concluding other free-trade agreements, and Canada has struck an agreement with Chile and hopes to conclude other agreements.

• Thus, the U.S. stands alone in its inability to expand its free-trade network.

Free-trade advocates say the continuing Asian crisis underscores the need for the U.S. to build trade ties within this hemisphere.

Experts warn that the U.S. will be in jeopardy of losing jobs if North American producers are forced to base their operations in Canada and Mexico -- so as to avoid the discrimination they would face by exporting directly from the U.S.