It's not as simple as it's a trend around the world:
Its not, as some hypothesize, related to changes in trade balance (imports vs. exports), etc. Rather, as the authors of the book explain, its basically due to consistent productivity growth that allows industrialized economies to turn out the same amount of goods with a smaller workforce. Now, Matthewss post is entitled This chart will change how you think about manufacturing maybe it should or shouldnt, but it probably wouldnt if youd read Jim Manzis piece in National Affairs in 2010, which actually made the same point, with a remarkably similar chart:
What this means is that the presidents campaign plan to revive Americas labor force with manufacturing employment almost certainly wont work leaving aside the fact that its also quite poor economic policy to encourage any particular sector, but least of all one that just happens to make people feel warm and patriotic.
I’ll give you a hint:
Last I heard, China’s unemployment rate was 4.1%.
We are subsidizing, and constantly strengthening the Chinese worker.
China now exports more than America.
We are due to fall the number 2 in world trade, by the NEXT ELECTION.
Wake up people. We are doing it wrong.