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Here is another chart it is important to understand. Despite the reduction of direct-labor employment, US productivity has skyrocketed, even while other nations have dropped. This is all about American Exceptionalism, we adapt, we retrain, we innovate rather than copy, and ideally we do these things in a free market economy without government interference. The sooner we get less of that, the sooner this trend will continue to spike.
The U.S. has 23% unemployment (shadowstats.com). Lowering the import tariffs in the 1960’s with the resulting Chinese emasculation of our industries is why.
Raise the import tariffs, put Americans back to work, restore American industry, make the U.S. less dependent on foreign countries.
The U.S. has 23% unemployment (shadowstats.com). Lowering the import tariffs in the 1960’s with the resulting Chinese emasculation of our industries is why.
Raise the import tariffs, put Americans back to work, restore American industry, make the U.S. less dependent on foreign countries.
Stunning levels of US productivity:
“It’s also important to remember that China’s manufacturing workforce is estimated to be around 100 million and could be as high as 110 million, compared to America’s manufacturing employment of slightly more than 12 million. Therefore, even though China is producing more manufacturing output than the US, the productivity of American factory workers is so high compared to China, that China needs almost ten factory workers for every one American worker to produce 28% more output. On a per worker basis, the average American factory was responsible for $166,000 of output in 2012, while the average Chinese factory was responsible for less than $26,000 of manufacturing output; the productivity of American factory workers was more than six times that of the average worker in China.”