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Chicago Fed Letter, No. 190, June 2003
The Disappearance of Manufacturing?

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.



Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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