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A straightforward long-term decline in the output of manufactured goods or in employment in the manufacturing sector. A shift from manufacturing to the service sectors, so that manufacturing has a lower share of total employment. Such a shift may occur even if manufacturing employment is growing in absolute terms
Figure 1-Job measures: The blue line (left axis) is the ratio of manufacturing jobs to the total number of non-farm payroll jobs. It has declined since the 1960s as manufacturing jobs fell and services expanded. The red line (right axis) is the number of manufacturing jobs (000s), which had fallen by nearly one-third since the late 1990s. [14]
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The data suggests manufacturing jobs are in a permanent decline. Even so, we're now Gone are the days you could graduate high school, get a job at a local factory, and have a job for life.
A PMI reading below 50 indicates contraction in the manufacturing sector, which accounts for 10.3% of the economy. US manufacturing drops to 15-month low amid higher input prices: ISM Skip to main ...
U.S. manufacturing production unexpectedly fell in January, weighed down by a sharp decline in motor vehicle output. Factory output dipped 0.1% last month after a downwardly revised 0.5% rebound ...
The perception of deindustrialisation that the literature refers to deals with the fact that although employment and economic production have risen, the economy has shifted drastically from manufacturing jobs to service sector jobs. Only 13% of the current Canadian population has a job in the industrial sector.
WASHINGTON (Reuters) -U.S. manufacturing contracted at a moderate pace in August amid some improvement in employment, but a further decline in new orders and rise in inventory suggested factory ...