manufacturing jobs in america: they're not coming back - home appliances manufacturers in china
While GE is often seen as an example of a decline in manufacturing power, it was once the most valuable company on Earth and did a very good job.
The industrial group, which earned $8 billion last year and $124 billion, is now busy upgrading gas turbines at a major energy plant to create water
The quality monitoring system, just a few weeks ago, signed a $5 contract.
5 billion contract for the development of two power plants.
GE is building something and it is creating jobs.
The problem is that almost none of these jobs are in the United States. S.
It used to make trains in PA Yili, the region's main source of employment, and recently received $2.
6 billion contract for supplying trains to India.
Unfortunately for those who have been laid off at the Transport plant in Erie, the Indian contract will see GE invest $0. 2 billion in India where they will build trains.
Work will not come back.
Since the 1970 s, the country's manufacturing industry has been shrinking, when the number of manufacturing jobs reached 19 million.
Nevertheless, the number of manufacturing jobs has been declining since 1953, which is seen as part of the labor force.
That year, 26% of the workforce worked in manufacturing;
Today's share is 8%.
Focus: US | redefining hope is a symbol of the current challenges facing US manufacturing. The U. S.
Still second in the world.
China is the biggest manufacturing power, but the growth of China's manufacturing industry is weak.
Despite announcements and commitments for work
Manufacturing output has had little budget since February.
Google Cloud service outage missing Connecticut mom Virginia Beach shooting protesters interrupt Harris, United StatesS.
There are actually a lot of things.
But, according to Ken Louie, associate professor of economics at Penn State University Behrend, production of them often does not create a lot of jobs due to technological innovation.
Automation is an important task. killer.
"We can now produce more output with fewer workers," Louis explained . ".
Manufacturers who survived here rely on hightech, high-
Value products, such as large cars or household appliances, which require fewer people to assemble than in the last century.
Emerging industries like computer and electronics manufacturing also follow this model.
Electronics made mainly by assembly line robots accounted for half of the manufacturing growth in the past 20 years.
Can the Rust Belt really recover?
This makes the population of towns like Erie, Pennsylvania, or Lancaster, Ohio, which used to provide manpower for the elderly.
In a difficult place, the factory of the school.
CBSN Originals visited Yili again to watch the second documentary about manufacturing there, which aired for the first time on Monday, June 19.
While the consumer base of America's own middle class and manufacturers is growing, Yili and other small cities are booming.
Today, the middle class in America
The level of income is declining;
At the same time, they are expanding in places like China and India ---
Its overall growth rate is more than double that of the United States. S. rate.
So when the global enterprise group decides where to put the new factory, it is likely that they will
The growing area is often because customers are there.
The labor force there is also cheaper, and there is no harm, which makes it easier for companies to pursue "their only responsibility": shareholder profits.
Of course, there are still a lot of companies that produce for American consumers and produce at home: from small to large
High quality of wholesale food manufacturer manufacturersto
It is not impossible to produce a good product in China for profit.
But back to 1950.
At the manufacturing level, these factories need to employ 7 million more people than they are now.
This kind of math seems unlikely.