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“single greatest percentage decline in the labor force”

Posted By Barry Ritholtz On February 16, 2004 @ 6:23 am In Finance | Comments Disabled

This guy’s depressing as a hell:

“From its peak five years ago in 1998, manufacturing employment has plunged 2.1 million, or about 18.3%. This is the single greatest percentage decline in the labor force in almost seven decades since the Great Depression of the 1930s. What has been happening to American manufacturing can only be described with the word ‘depression.’”

-Dr. Kurt Richebächer [1]

I don’t buy it. Or perhaps I don’t want to believe it. Hell, I do not even want to think about it!

(A bio on Richebächer is here [2])


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2004/02/single-greatest-percentage-decline-in-the-labor-force/

URLs in this post:

[1] Dr. Kurt Richebächer: http://www.dailyreckoning.com/body_headline.cfm?id=3755

[2] here: http://www.goldnewsweekly.com/commentary/index.asp?Author=Kurt+Richeb%E4cher

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