Here’s an interesting data series we thought you might enlightening.
Note the peak in manufacturing jobs in June 1977, which represented 22 percent of all nonfarm payrolls, to less than 9 percent of total employment today. It’s too earlier to claim victory with the current recovery in the manufacturing sector, but it is the the first positive slope since mid-1990′s.
There are many reasons for the secular decline, including: 1) the strengthening of the dollar during the 1980′s; 2) globalization; 3) entry of China and India into the global labor force; 4) the internet; 4) productivity; 5) technological innovation; 6) demographics and worker preferences; and 7) all of the above.
We’ll leave it to the academics to debate it and the politicians to place blame or take credit.
Click on chart to and for better resolution.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.