As a driving force in the U.S. economy, manufacturing has lost much of its momentum. The dramatic decline in manufacturing jobs over the last decade makes the picture especially bleak.
Source: U.S. Bureau of Labor Statistics; The Information Technology & Innovation Foundation
The decline in manufacturing jobs has coincided with a smaller worldwide role for U.S. manufacturing. Beginning in the late 1980s, China’s share of manufacturing has rapidly and steadily grown. It long ago overtook Japan (which began a slow decline in the late 1990s) and Germany (whose share has held remarkably steady).
Source: United Nations Conference on Trade and Development; ITIF