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Manufacturing: a tough sector for employees [ClearOnMoney]
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Manufacturing: a tough sector for employees

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Commentary

Manufacturing: a tough sector for employees

9 Jan 2012 by Jim Fickett.

The Financial Times pointed out today that although manufacturing output in the US has grown by 2%/year since 2000, manufacturing employment has fallen by an average of 4%/year. Here is a repeat of the graph for the US index of industrial production:

And here is a graph for manufacturing employment over the last three decades (from the BLS):

Part of the reason the overall employment situation is recovering so slowly is that many debt bubbles are still being unwound (e.g. the mortgage mess). But another part is that companies have used the volatility as an opportunity to increase automation and offshoring; probably nowhere more so than in manufacturing.

One more reason to be pessimistic about the prospects for a full recovery in employment.