Why is manufacturing employment declining?
Employment in manufacturing has been declining. One explanation is higher productivity.
This article argues that changing preferences may be more important. (Hat tip to Bryce Kanago)
A 2003 Washington Post article told the story of how General Motors needed nearly alf a million workers about a quarter-century ago to turn out five million automobiles a year. Today, the company needs only about a quarter of that employment level to produce the same number of cars. In fact, during the 20-year period from 1980 to 2000, U.S.manufacturing output nearly doubled,whereas manufacturing employment remained flat.
This article argues that changing preferences may be more important. (Hat tip to Bryce Kanago)
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