The media seems to constantly be reporting on the "death" of manufacturing. However, the numbers show that is not true! Employment has been rising since 2010 and production is becoming more efficient with Industry 4.0 and lean manufacturing. Forbes said, "It’s high time to stop the fear mongering, and to take an honest look at both the ups and the downs of US industry." It may not be totally clear skies, but there is a growing enthusiasm for the industry and plenty of recent success stories. Click the link for some great charts illustrating the changes in the manufacturing industry over time.
There is endless commentary about the inevitable death of manufacturing in America. This is nothing new; such dire predictions began at least as early as the 1980s, when the Japanese industrial juggernaut appeared to be a dire threat. This doomsday scenario is demonstrably untrue. But the picture isn’t entirely rosy either. Thanks to the Federal Reserve Bank of St. Louis, we have some excellent charts to illustrate the various aspects of this topic. You can search them for yourself here. Read More