Better find a career in an industry in which NA can still innovate and compete. The United States has lost approximately 42,400 factories since 2001, and a total of about 5.5 million manufacturing jobs since October 2000. In America today, consumption accounts for 70 percent of GDP. Of this 70 percent, over half is spent on services. We can argue about the long term economic value – never mind living wages – of these service jobs, but how many services do you think those 5.5M who lost their mfg jobs can afford right now?
Image: www.flickr.com
Source: Economy In Crisis
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