The Real Reasons Manufacturing Declined
During 1950 one in three U.S. workers had a high-paying manufacturing job. Now it’s one in twelve. The reasons for the plunge prevent us from moving back. According to economic research, we cannot blame China for most of our manufacturing decline. Let’s take a look. We can start with manufacturing employment and output. Essentially, we observe fewer people and more output. Jobs. Since 1940, the number of manufacturing jobs has remained within a range of 11 to 20 million. Now, we are hovering close to 13 million ….[READ]
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