” if the U.S. economy as a whole grew while manufacturing merely held its own”
Without government-subsidized (by the taxpayers eventually) consumer spending where would the wealth come from for the economy to grow without manufacturing?
Manufacturing is only 12% of the labor force.
Labor force by occupation
Farming, Forestry, and Fishing: 0.7%
Manufacturing, Extraction, Transportation, and Crafts: 12%
Managerial, Professional, and Technical: 38%
Sales and Office: 23%
Installation and Maintenance: 3.3%
Other Services: 23%
(June 2014)
[note: figures exclude the unemployed][12]