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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]
A graph of manufacturing employment rates in the United States between 1920 and 1940. Data was obtained from the U.S. Census Bureau Statistical Abstracts and converted into SVG format by me. The relevant information is in this PDF document, page 17, column 130. Date: 21 January 2008: Source: Own work: Author: Crotalus horridus: Permission ...
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
As of June 2018, approximately 128.6 million people in the United States have found full-time work (at least 35 hours a week in total), while 27.0 million worked part-time. [11] There were 4.7 million working part-time for economic reasons, meaning they wanted but could not find full-time work, the lowest level since January 2008. [12]
Most of the jobs lost during the recession centered around goods producing industries, while the service sector remained largely intact. Over the course of the recession, manufacturing shed 1.1 million jobs, with the recession posting a total loss of 1.3 million jobs, representing 1.2% of payrolls. [3]
From the December 2009 crisis total employment trough to May 2013, the U.S. added 5,669 full-time jobs and added 237 part-time jobs, a total of 5,906 jobs. From the November 2007 pre-crisis peak total employment month to May 2013, the U.S. lost 5,637 full-time jobs and added 2,941 part-time jobs, a net loss of 2,696 jobs total. [165]
From 2000 to 2007, the United States lost a total of 3.2 million manufacturing jobs. [173] 12.1% of US military veterans who had served after the September 11 attacks in 2001 were unemployed as of 2011; 29.1% of male veterans aged 18–24 were unemployed. [87] As of September 2016, the total veteran unemployment rate was 4.3 percent.
The manufacturing sector therefore provides a very important stimulus to overall economic growth. Manufacturing is also associated with well-paid service jobs such as accounting, business management, research and development and legal services. Deindustrialisation is therefore also leading to a significant loss of these service jobs ...