Labor Lost

In 11/43, manufacturing employment (ME) hit a record 16.6 million and 22 years later in 7/65, hit a new record of 16.7 million. ME then grew and peaked at 19.6 million in 6/79. By the start of the Great Recession in 1/08, there were only 13.7 million manufacturing workers. The trough was in 2/10 when ME slumped to 11.5 million. It’s now at 12.3 million and slowly rising.