Recent weakness in the manufacturing sector has clearly contributed to cutbacks in employment. However, manufacturing job growth has been stagnant for much of the last half century. A number of economic trends explain the shrinkage of the manufacturing sector. These include the growing importance of the service sector and productivity improvements in manufacturing, which have facilitated output growth with stable employment.
On This PageJune 2003, No. 190
The Disappearance of Manufacturing?
Last Updated: 05/15/03