Thursday, February 10, 2011

Chart of the Day

My previous post on manufacturing productivity and jobs was controversial. So let me fan the flames; according to the Wall Street Journal:
U.S. manufacturing, viewed as a lost cause by many Americans, has begun creating more jobs than it eliminates for the first time in more than a decade.

As the economy recovered and big companies began upgrading old factories or building new ones, the number of manufacturing jobs in the U.S. last year grew 1.2%, or 136,000, the first increase since 1997, government data show.
Econ prof/blogger Mark Perry graphs the change:


source: Carpe Diem

Conclusion: The supposed collapse of U.S. industrial output is overstated.

3 comments:

OBloodyHell said...

> My previous post on manufacturing productivity and jobs was controversial.

What? Me? Involved in a controversy?

Naaawwwwww.... Never.

:oD

suek said...

Sometimes it's _good_ to be wrong!

OBloodyHell said...

No, sue, sometimes it's good that OTHERS believe you to be wrong.

About the only time you actually want to be wrong is when you know you're being excessively pessimistic about things...