Comments on: 10 States with Underemployment Rates of 20+ Percent. Manufacturing Sector Employs Same Number of Workers that we did in 1940.

By: boqueronman

boqueronman — Mon, 30 Nov 2009 17:21:34 +0000

Sorry to be late to this discussion thread, but until we wake up to the fact that, whether we like it or not, we live in an interconnected and globalized economy, we are going to miss the big picture and, probably, apply parochial solutions to global problems. The issue of manufacturing employment is one such area. In summary, manufacturing efficiency and productivity is increasing so fast that total worldwide employment in manufacturing is declining. Much as agricultural employment has declined to an almost neglibible percentage of total employment in developed countries, the same phenomenon has already started in manufacturing.

In the 19th century agriculture was the dominant source of employment through out the world. Today, agriculture represents about 1% of the USA employment and 3% of European employment. A very similar trend has been underway since 1960 for manufacturing. In 1960 USA manufacturing employment was 26% and in Europe 30%. Today in the USA manufacturing jobs will soon be under 10% and Europe will soon be under 20%. China has only 10% employed in manufacturing.

In the last ten years, China’s manufacturing employment is down almost 20%. With more total manufacturing jobs than Europe, Japan and the USA together, China is losing more manufacturing jobs then these three areas combined. In addition to the probable decline in China’s 80 million or so manufacturing jobs, there is a larger problem. China has 400 million employed in rural areas or largely in agriculture.

Therefore, the problem is not primarily manufacturing jobs fleeing to India-China, but that manufacturing jobs are vanishing worldwide. The question then is where do the new jobs come from? In the developed world service industry jobs have replaced agricultural labor and the same trend will probably have to compensate for the vanishing manufacturing sector jobs. In the current recession however, with tight household budgets restricting consumption, what kind of new or additional services will consumers pay for? We have a serious structural problem in the world economy. Answers, anyone?

By: Tim Sutton

Tim Sutton — Thu, 19 Nov 2009 15:48:26 +0000

….if all these lost jobs are never coming back, how are countries like the UK and the USA going to cope?!

Prosperity without growth ??!!

http://www.sd-commission.org.uk/publications/downloads/prosperity_without_growth_report.pdf

“The conventional formula for achieving prosperity relies on the pursuit of economic growth.
Higher incomes will increase wellbeing and lead to prosperity for all, in this view.
This report challenges that formula. It questions whether economic growth is still
a legitimate goal for rich countries like the UK, in the context of the huge disparities in
income and wellbeing that persist across the globe and the constraints of living within finite
environmental limits. It explores whether the benefits of continued economic growth still
outweigh the costs and scrutinises the assumption that growth is essential for prosperity.
In short, it asks: is it possible to have prosperity without growth?”

By: Mr Morphed

Mr Morphed — Wed, 18 Nov 2009 14:44:26 +0000

I always say the collapse is by design as it mirrors what “They” did in the 20’s through to the 40’s. As another generation heads to retirement, the swindlers that be have to fleece us yet again. Too bad people cant seem to grasp the fact that the football game and who wins NASCAR don’t mean a bucket of piss compared to the unending destruction of our societies. In a just world heads would roll of the blades of the guillotines.

By: Tim

Tim — Wed, 18 Nov 2009 05:32:40 +0000

And the retards in the California legislature just passed measures raising taxes. Good work morons !

By: Ken Brodeur

Ken Brodeur — Tue, 17 Nov 2009 18:39:13 +0000

Using statistical chicanery, McDonald’s workers are considered as “Manufacturing Jobs”. This would then include all fast food vendors? There are over 12,000 McDonalds in the US. How many people work at an average McDonalds? Add in all the other fast food “Manufacturers”. Lawyers fees are also considered part of the GDP. How does the service of a Lawyer add to the P (production for the uninformed) in the GDP?
And now for the Coup des Grais, how does consumer spending add to the production or delivery of goods?
The GDP is an illusion. It is so completely false and extremely over inflated. Does anyone understand supply and demand anymore? Our real GDP is probably less than 1 Billion dollars and falling like a rock!