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View Diary: Structural Stupidity on PBS, Debunked by Krugman and Baker (123 comments)

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  •  Both (6+ / 0-)
    But, let's put it into a little perspective and go back to 1945 when there were about 15,700,000 manufacturing jobs, which represented about 37.4 percent of all nonfarm jobs. In the 1950s, it was 30.4 percent; 27.4 percent in the 1960s, 23.0 percent in the 1970s, 18.5 percent in the 1980s, 14.8 percent in the 1990s, 10.9 percent in the 2000s, and 8.9 percent in the 2010s, which is the current level. link
    Manufacturing Returns to USA (Jobs Not So Much)
    New US factories are “superautomated” and heavily roboticized;

    Employees typically are required to have computer skills and specialized training; Minimum of two-year tech degree, which is likely to rise to four-year degree (eventually);

    These factories of the future have more machines and fewer workers—and those workers must be able to master the machines. Many new manufacturing jobs require at least a two-year tech degree to complement artisan skills such as welding and milling. The bar will only get higher. Some experts believe it won’t be too long before employers expect a four-year degree—a job qualification that will eventually be required in many other places around the world too. link

    There are both structural and cyclic aspects and the structural may become a bigger issue over time.  We should do all reasonable things to stimulate the economy for jobs right now but we also need to look for longer term solutions.

    Cutting so-called entitlements is the opposite of what we should be doing:

    That Vision Thing: our need to search for Utopia

    Jobs are not the answer

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