The Sluggish Renaissance of U.S. Manufacturing
From stlouisfed.org
Geopolitical tensions have spurred a revival of U.S. manufacturing, an argument in favor of reshoring manufacturing jobs. At the end of 2024, about 12.6 million people were employed in the manufacturing sector. This represents about 9.3% of total private sector employment. While manufacturing was once a leading source of jobs, employment in the sector has declined over the past decades as the economy has shifted toward service industries. It averaged 33.7% of employment in 1960 and 19.4% in 1990. Although not enough to reverse this downward trend, the number of manufacturing employees has been slowly recovering over ...
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