From Inc · · 1m
Manufacturing Predicts Recession Despite Low Job Share
U.S. manufacturing employs less than 10% of workers but signals nearly every recession.
In brief
U.S. manufacturing employs less than 10% of workers but signals nearly every recession. U.S. manufacturing's decline in jobs still predicts economic recessions despite being less than 10% of total employment. Originally reported by Inc.
Manufacturing's Job Share Decline
U.S. manufacturing employs fewer workers than in the 1950s, now less than 10 percent of total jobs.
Economic Contractions Still Predicted
Manufacturing contractions still signal nearly every economic recession despite low employment share.
Goods GDP Measures Economic Value
Federal Reserve analysis uses goods GDP to capture full economic value of manufactured products.
Goods GDP Accounts for 25% of Economy
Manufactured goods represent about one-quarter of the U.S. economy through goods GDP measures.
Economic Contractions Signal Recessions
Manufacturing contractions still predict nearly every recession despite low employment share.
Federal Reserve Analysis by Ryan Decker
Economist Ryan Decker's Federal Reserve analysis shows manufacturing's economic value remains significant.
The key point
U.S. manufacturing's decline in jobs still predicts economic recessions despite being less than 10% of total employment.
