Glad I Didn’t Say That! The Latest Mainstream Media Misinformation on Manufacturing
Helen Saulnier
1 min read
“Opposite to myths that we have stopped ‘making’ issues in the United States, we presently manufacture a ton of stuff below. In reality, we manufacture approximately the most ‘stuff’ on file, as measured by the inflation-modified value of all those solutions. We just transpire to make that things with fewer workers than we utilised to, since technological developments have led to large productivity gains.”
– Catherine Rampell, The Washington Post, September 8, 2022
U.S. production labor productivity since peak*: +4.00%
U.S. production work considering that then: -7.18%
U.S. right after-inflation manufacturing production given that then: -3.58%
*December, 2007
(Sources: “The fantasy of the manufacturing comeback,” by Catherine Rampell, The Washington Publish, September 8, 2022, https://www.washingtonpost.com/views/2022/09/08/biden-production-designed-the us/ “Labor productivity (output for each hour),” Sequence Id: PRS 30006093, Important Sector Productiveness and Costs, Databases, Tables & Calculators by Subject, Information Equipment, U.S. Bureau of Labor Stats, U.S. Department of Labor, https://knowledge.bls.gov/pdq/SurveyOutputServlet “All staff, 1000’s, producing, seasonally adjusted,” Sequence Id: CES3000000001, Work, Several hours, and Earnings from the Present-day Work Studies study (Nationwide), Ibid. & “Industrial Output, Seasonally Modified,” Facts for Tables 1, 2, and 10 (to July 2022), Industrial Generation: Current market, Business Teams, and Personal Collection, Historical Details: Tables 1, 2, and 10, Industrial Manufacturing and Capability Utilization – G.17, Information, Board of Governors of the Federal Reserve System,https://www.federalreserve.gov/releases/g17/ipdisk/ip_sa.txt)
