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Interesting article from mybudget360 blog:
After every recession since the 1940s, manufacturing jobs contracted throughout the recession only to pickup after the recession ended. This trend started getting weaker in the 1970s. Even in the early 1990s recession, manufacturing jobs picked up slightly throughout the decade. Now, in the 2001 recession manufacturing has been plummeting and has completely broken the trend. In fact, we now have the same number of people working in manufacturing as we did back in 1940. One slight difference. The U.S. had 132 million people in 1940 and now we have 307 million. We have nearly 2.5 times the population and the same amount of people working in manufacturing.
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And forget about employment growth. We have lost 8 million jobs since the recession started in December of 2007, 22 months ago. We have lost an average of 360,000 jobs per month since the recession started. Where are these jobs going to come from? What is troubling is how many of these jobs are gone for good:
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And forget about employment growth. We have lost 8 million jobs since the recession started in December of 2007, 22 months ago. We have lost an average of 360,000 jobs per month since the recession started. Where are these jobs going to come from? What is troubling is how many of these jobs are gone for good: