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04/22/2012

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This seems to be the problem as technology becomes more and more readily available, not to mention cheaper and less risky to use. More and more manufacturing companies are using a capital intensive program rather than a labor intensive one. They only apply skilled labor to operate machinery. Skilled labor pays higher but it requires a lower number of laborers. This has always been the trade-off. And as said by economists, nothing we do to increase efficiency and profitability ceases to create trade-offs. These trade-offs may be seen in the environment, in the labor market as well as other sectors.

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We're not "China" and can't dictate the bootstrapping efforts but we are in a situation that like a World War requires some direction from our democratic process.
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Did You Know...

The United States is the world's largest manufacturing economy, producing 21 percent of global manufactured products. China is second at 15 percent and Japan is third at 12 percent. 1

U.S. manufacturing produces $1.7 trillion of value each year, or 11.7 percent of U.S. GDP. For every $1.00 spent in manufacturing, another $1.35 is added to the economy. 2

Manufacturing supports an estimated 17 million jobs in the U.S.—about one in six private sector jobs. 3 Nearly 12 million Americans (or 9 percent of the workforce) are employed directly in manufacturing. 4

In 2010, the average U.S. manufacturing worker earned $77,186 annually, including pay and benefits. The average non-manufacturing worker earned $56,436 annually. 5

U.S. manufacturers are the most productive workers in the world—far surpassing the worker productivity of any other major manufacturing economy, leading to higher wages and living standards.

U.S. manufacturers perform two-thirds of all R&D in the nation, driving more innovation than any other sector. 6

Taken alone, U.S. Manufacturing would be the 9th largest economy in the world. 7

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Hopefully the industry will pick up and boost the economy.

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