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Chicago Fed Letter, No. 358, 2016
What Does the Changing Sectoral Composition of the Economy Mean for Workers?

Over the past quarter of a century, the share of jobs in the U.S. economy in manufacturing has declined, while the share of jobs in services has risen. A common view is that because manufacturing jobs are relatively high-paying jobs, this shift has been negative for workers. However, jobs also differ in other ways, so looking only at pay gives an incomplete picture.



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