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What Accounts for the Decline in Manufacturing Employment

机译:制造业就业下滑的原因在哪里

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The manufacturing sector of the U.S. economy has experienced substantial job losses over the past several years. In January 2004, the number of such jobs stood at 14.3 million, down by 3.0 million jobs, or 17.5 percent, since July 2000 and about 5.2 million since the historical peak in 1979. Employment in manufacturing was its lowest since July 1950. Much of the decline in manufacturing employment since 2000 reflects the recession that began in 2001 and the relatively weak recovery in demand that followed. The recession was particularly hard on the manufacturing sector, as the demand for goods weakened in both the United States and the rest of the world. Those cyclical losses in manufacturing employment persisted through the first two years of the recovery, but they are likely to be at least partially reversed as the economy expands in the next few years.

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