3 ms·

Here's your [0]. https://research.stlouisfed.org/fred2/graph/?g=3Q3Y https://research.stlouisfed.org/fred2/graph/?g=3Q3Y

noobermin 11y ago
I think this is a more representative graph[0]. I'm assuming that what you linked includes non-factory workers. [0] is specifically "Production and Nonsupervisory Employees" in Manufacturing. This is in no way weighted by the population at the time or the labor force at that time, but let's look at it this way. 8.5M around 2014 was about 5% of the total labor force in that year the US. I suppose 1 in 20 is a number of people if you're just looking at that one graph. Here[1] is an informative graph (it'd be better if it were normalized to the total). Manufacturing is a major piece still, but the total is growing as manufacturing is somewhat changing little (overall absolute increase by [0] but might looks flat compared to growth in other fields, shrinking as a fraction of the total private industry workforce per [1]) with what looks like increases in other fields, specifically in the "education and health services" part on the bottom of the graph. [0] https://research.stlouisfed.org/fred2/series/CES3000000006 https://research.stlouisfed.org/fred2/series/CES3000000006 [1] be it noted that this graphic claims to come from the same source as [0] https://en.wikipedia.org/wiki/Economy_of_the_United_States#/media/File:EmploymentUSbranchFredgr.png https://en.wikipedia.org/wiki/Economy_of_the_United_States#/...
- look_lookatme 11y ago
  We have more employed people than ever, yet we have regressed in terms of %of population between ages 25-54 participating in the workforce. We have lost 4,000,000 manufacturing jobs in 15 years, despite wages languishing (in real dollars) and productivity increasing. We have gained jobs in health -- this is to be expected with the aging boomer population. We have gained jobs in transportation/logistics -- this is to be expected given all the stuff made in Chinese factories we buy from Amazon. Very soon these jobs will be automated, trucks will drive themselves and warehouses will stock themselves. Worshippers at the altar of Free Market Economics (A Real Science) can wave around normalized, adjusted graphs all they want but if society doesn't figure out what to do with the people we graduate from high schools and colleges or layoff to pad quarterly earnings, we are going to have some serious issues on our hands in the next decade -- if not sooner.
  - DrScump 11y ago
    <We have more employed people than ever> Only because we have more people, period, than ever. We are actually closer to our lowest-ever percentage employed than our highest ever[0] since 1950. And our workforce participation rate (i.e. where you don't ignore longstanding unemployed to dishonestly suppress reported unemployment stats) is still well below even the worst of Bush 43's tenure[1]. [0] http://www.tradingeconomics.com/united-states/employed-persons http://www.tradingeconomics.com/united-states/employed-perso... [1] http://www.tradingeconomics.com/united-states/labor-force-participation-rate http://www.tradingeconomics.com/united-states/labor-force-pa...

noobermin 11y ago

I think this is a more representative graph[0]. I'm assuming that what you linked includes non-factory workers. [0] is specifically "Production and Nonsupervisory Employees" in Manufacturing. This is in no way weighted by the population at the time or the labor force at that time, but let's look at it this way. 8.5M around 2014 was about 5% of the total labor force in that year the US. I suppose 1 in 20 is a number of people if you're just looking at that one graph. Here[1] is an informative graph (it'd be better if it were normalized to the total). Manufacturing is a major piece still, but the total is growing as manufacturing is somewhat changing little (overall absolute increase by [0] but might looks flat compared to growth in other fields, shrinking as a fraction of the total private industry workforce per [1]) with what looks like increases in other fields, specifically in the "education and health services" part on the bottom of the graph. [0] https://research.stlouisfed.org/fred2/series/CES3000000006 https://research.stlouisfed.org/fred2/series/CES3000000006 [1] be it noted that this graphic claims to come from the same source as [0] https://en.wikipedia.org/wiki/Economy_of_the_United_States#/media/File:EmploymentUSbranchFredgr.png https://en.wikipedia.org/wiki/Economy_of_the_United_States#/...

look_lookatme 11y ago
We have more employed people than ever, yet we have regressed in terms of %of population between ages 25-54 participating in the workforce. We have lost 4,000,000 manufacturing jobs in 15 years, despite wages languishing (in real dollars) and productivity increasing. We have gained jobs in health -- this is to be expected with the aging boomer population. We have gained jobs in transportation/logistics -- this is to be expected given all the stuff made in Chinese factories we buy from Amazon. Very soon these jobs will be automated, trucks will drive themselves and warehouses will stock themselves. Worshippers at the altar of Free Market Economics (A Real Science) can wave around normalized, adjusted graphs all they want but if society doesn't figure out what to do with the people we graduate from high schools and colleges or layoff to pad quarterly earnings, we are going to have some serious issues on our hands in the next decade -- if not sooner.
- DrScump 11y ago
  <We have more employed people than ever> Only because we have more people, period, than ever. We are actually closer to our lowest-ever percentage employed than our highest ever[0] since 1950. And our workforce participation rate (i.e. where you don't ignore longstanding unemployed to dishonestly suppress reported unemployment stats) is still well below even the worst of Bush 43's tenure[1]. [0] http://www.tradingeconomics.com/united-states/employed-persons http://www.tradingeconomics.com/united-states/employed-perso... [1] http://www.tradingeconomics.com/united-states/labor-force-participation-rate http://www.tradingeconomics.com/united-states/labor-force-pa...