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>Manufacturing is only 8% of the labor force, yet the US makes more stuff than ever. US manufacturing is doing great. The drop in output after 2008 has been com
by crdoconnor 12y ago
>Manufacturing is only 8% of the labor force, yet the US makes more stuff than ever. US manufacturing is doing great. The drop in output after 2008 has been completely recovered. Manufacturing just doesn't need many people. The jobs lost never came back.
The US doesn't make more stuff than ever as can be verified by:
* Taking one look at the gaping US trade deficit.
* Taking a look at all of the manufactured items in your home. How many say made in America?
- coolsunglasses 12y agohttp://static.seekingalpha.com/uploads/2011/1/13/saupload_usmfg.jpg http://static.seekingalpha.com/uploads/2011/1/13/saupload_us... http://mercatus.org/sites/default/files/manufacturing-for-web-PNG26.png http://mercatus.org/sites/default/files/manufacturing-for-we... http://static.seekingalpha.com/uploads/2009/8/23/saupload_mfg2.jpg http://static.seekingalpha.com/uploads/2009/8/23/saupload_mf... http://cerasis.com/wp-content/uploads/2014/06/manufacturing-revival-GDP1.jpg http://cerasis.com/wp-content/uploads/2014/06/manufacturing-...
- Animats 12y agoUS Industrial production index, graph: http://research.stlouisfed.org/fred2/graph/?id=INDPRO http://research.stlouisfed.org/fred2/graph/?id=INDPRO
- crdoconnor 12y agoDoes not account for: * Inflation * Overcapacity * Transfer pricing
- azernik 12y agohttp://www.federalreserve.gov/releases/g17/IpNotes.htm http://www.federalreserve.gov/releases/g17/IpNotes.htm * Inflation > (1) output measured in physical units * Overcapacity I'm not even sure what you're claiming as a problem with the IP index here; it measures actual production, while there are entirely separate indices for Capacity (and Capacity Utilization). See http://www.federalreserve.gov/releases/g17/CapNotes.htm http://www.federalreserve.gov/releases/g17/CapNotes.htm * Transfer pricing Again: > (1) output measured in physical units The people who put these indices together are, surprisingly enough, professionals who have thought about these issues.