You frequently hear about the “manufacturing revolution” in America, but more and more it looks like bunk.
Now, job creation is entirely confined to the services sector: Manufacturing had no net change in employment, construction lost 6,000 jobs, and even mining and logging was a net negative.
In this chart, the blue bars is the total monthly change in job creation and the red bars are the change in manufacturing jobs. As you can see, manufacturing saw weakening in both of the last months, and in some recent months there was even negative job creation in the sector.
If there were some big revolution, why would we be seeing these pathetic numbers so frequently?
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