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They don't have the factories anymore, do they?
by rcMgD2BwE72F 5y ago
They don't have the factories anymore, do they?
- ac29 5y agoIts complicated. Manufacturing output has been relatively flat for 20 years or so: https://fred.stlouisfed.org/series/OUTMS https://fred.stlouisfed.org/series/OUTMS But, manufacturing employment is down: https://fred.stlouisfed.org/series/PRS30006013 https://fred.stlouisfed.org/series/PRS30006013 The latter is why people sometimes claim manufacturing is disappearing from the US. Its not, but employment levels are down as productivity goes up, and as labor intensive but low value industries move elsewhere (like clothing manufacturing).
- AnimalMuppet 5y agoBut in that 20 years, the population has grown, and per-capita consumption has grown. So flat manufacturing output means that domestic manufacturing serves less of our consumption.