July 31, 2008

US manufacturing jobs leveling off

The USA has lost a lot of manufacturing jobs over the past few decades and for a while the number of jobs was dropping drastically. But it now looks like in the past few years that the losses are leveling off.

Here are the total # of manufacturing jobs in the us (in thousands):

1998 1999 2000 2001 2002 2003 2004 2005 2006
17,225 17,045 16,947 16,190 15,056 14,306 14,117 14,044 13,974

From 1998 to 2003 we had a -16.9% decline in manufacturing jobs or -3.7% annually. But then from 2003 to 2006 the decline in manufacturing jobs slowed to -2.3% or -0.7% annually.

Source of information is the Bureau of of Economic Analysis Full-Time and Part-Time Employees by Industry

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