Manufacturing's Productivity Myth
Justin Fox for Bloomberg: The U.S. manufacturing sector is far from the basket case it is sometimes made out to be on the campaign trail. But it's important to realize that it isn't exactly going gangbusters, either.
The everything's-OK line about U.S. manufacturing goes something like this: Yes, lots of manufacturing jobs (7.3 million, to be precise-ish) have been lost since employment in the sector peaked in 1978, but real manufacturing output is at an all-time high. So the manufacturing sector is doing fine -- it's just that thanks to automation and other technological advances it has gotten much more productive and thus doesn't need as many workers. Cont'd...
Comments (0)
This post does not have any comments. Be the first to leave a comment below.
Featured Product
Sierra Introduces One Complete Industrial Flow Energy Solution
Sierra Instruments announces the launch of its new flow energy solution for managing and optimizing flow measurement for industrial facilities of all sizes. It features Sierra's QuadraTherm 640i/780i thermal flow meters, their InnovaMass 240i/241i vortex flow meters, and their new InnovaSonic 207i ultrasonic flow meter. Designed, built, and calibrated in the USA by Sierra, the Big-3TM share the same revolutionary Raptor firmware and many of the same software apps. They are a complete flow energy solution for flows like compressed air, natural gas, steam, and hot and chilled water. Together, they set a new standard in ease-of-purchase, performance, accuracy, reliability, and ease of use.
