Industrial Insight

Improved productivity cost more jobs than Chinese currency… | October 4, 2010

http://mjperry.blogspot.com/2010/10/instead-of-legislating-appreciation-of.html

Sunday, October 03, 2010

Increases in U.S. Worker Productivity, More Than China’s Currency, Responsible for Loss of U.S. Jobs

Bottom Line: Manufacturing worker productivity has doubled in the last 17 years since 1993, and that has contributed to the loss of more than 11 millions jobs. That is, if factory workers were only as productive today as their counterparts in 1993, it would require more than 23 million factory workers today to produce $3.26 trillion worth of manufacturing output today, instead of the 11.7 million workers employed today to produce that much manufacturing output.

Therefore, it’s the significant increase in the manufacturing worker productivity that is more responsible for the loss of millions of U.S. manufacturing jobs than the value of the Chinese currency.

Advertisements

Posted in Uncategorized

Leave a Comment »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: