Saturday, 6 August 2011

Is the US active?

From January 2000 to January 2010, the number of U.S. manufacturing jobs fell by 6.17 million, or 34%

This is a dramatic drop. Of course, if output has been maintained through higher productivity, this would be less serious. Unfortunately, output also fell.

From 2000 to 2009, 15 of the 19 U.S. manufacturing sectors shrank in terms of real value added (gross output minus the cost of inputs), and overall manufacturing output declined by 10%.

So productivity did rise but not by enough.

What is the US doing about this situation. Well, my eyes and ears have detected very little awareness of the problem, let alone action to address it.

If you know more, please let me - and my readers - know!

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