Wednesday, January 26, 2011

U.S. Manufacturing: Output vs. Jobs Since 1975

U.S. Manufacturing: Output vs. Jobs Since 1975 Mercatus
"This week, Veronique de Rugy examines changes in employment and productivity in the American manufacturing sector.

Since 1975, manufacturing output has more than doubled, while employment in the sector has decreased by 31%.
While these American job losses are indeed sobering, they are not an indication of declining U.S. competitiveness.

In fact, these statistics reveal that the average American manufacturer is over three times more productive today than they were in 1975 – a sure sign of economic progress."

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