Thursday, January 26, 2012

Nice graphic showing the change in manufacturing jobs relative to service jobs since 1960, the year of my birth. How things have changed in my lifetime.

The shift from employment in the manufacturing sector to the service sector has been in the works for a long time. It might be hard to see the small graph in the upper right hand corner, but it starts in 1960. 

The drop in manufacturing employment (distinct from manufacturing output) has been due in large part to globalization and the adoption of advanced technology to the manufacturing process. 

I was born in 1960. In my lifetime, only Sears (for now) and General Electric are left on this list. Amazing to me..
Source: NYTIMES
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1 comment:

  1. alternative investmentsJanuary 26, 2012 at 8:48 PM

    Things have indeed changed ramatically, but at least manufacturing seems to be making a bit of a comeback. Why?:

    1) Concern about quality and intellectual property

    2) High Oil prices mean high transport prices cutting into the offshore cost savings.

    3) Wages going up rapidly in China - fantastic news and a big driver.

    ReplyDelete

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