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Important Segment of Economy Still Manufacturing

Submitted by Armand Biroonak
October 6th, 2008

Nearly 10 percent of America’s workers are employed in the manufacturing sector; of those, nine percent are scientists and engineers.

Source

Bureau of Labor Statistics

Economic Policy Institute

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Manufacturing is Major Contributor to Economy and Growth

Submitted by Armand Biroonak
October 6th, 2008

The manufacturing sector is responsible for more than 12 percent of America’s gross domestic product and pays for approximately 60 percent of the research and development work that has made America a technological leader.

Source
Economic Policy Institute

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Manufacturing Jobs Fall Under Bush

Submitted by Armand Biroonak
October 6th, 2008

Manufacturing employment fell for the first time after Bush took office--below 16.5 million-- the first time for the period between 1965-2000.

Source
United Steelworkers and EPI
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Manufacturing Jobs Decline 17% Past Seven Years

Submitted by Armand Biroonak
October 6th, 2008

Between 2001 and 2007, more 3 million manufacturing workers lost their jobs—a 17 percent decline.

Source
Associated Press
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Trade Deficit of Manufactured Goods Increased Dramatically

Submitted by Armand Biroonak
October 6th, 2008

Between 2001 and 2007, the trade deficit in manufactured goods increased by 42 percent, bringing it to over $165 billion.

Source
Economic Policy Institute
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American Workers Among the Most Productive Globally

Submitted by Armand Biroonak
October 6th, 2008

American manufacturing workers are the world’s second-highest rate of output per hour.

Source
Bureau of Labor Statistics
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Companies Avoid U.S. Pay Standards, Outsourcing Jobs

Submitted by Armand Biroonak
October 6th, 2008

For every dollar an American manufacturing worker is paid, a worker in Mexico is paid 12 cents and one in Hong Kong makes just 24 cents.

Source
Bureau of Labor Statistics
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Job Losses Greater than Expected

Submitted by Armand Biroonak
October 2nd, 2008

The Bureau of Labor Statistics announced that nationwide job losses stood at 159,000 jobs last month alone, the largest monthly loss in five years, and the ninth straight month of job loss this year.

Source
Bureau of Labor Statistics
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Unemployment Claims Highest Since Post 9/11

Submitted by Armand Biroonak
October 2nd, 2008

The Labor Department reported that claims for unemployment insurance rose to their highest level since the September 11th terrorist attacks.

Source
CNN
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Majority of Americans Believe Economic Downturn is Here

Submitted by Armand Biroonak
October 2nd, 2008

According to a recent USA Today/Gallup poll, 69 percent of Americans believe our economy is in a recession or worse, 33 percent think this is a depression.

Source
USA Today/Gallup
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