CHART: Manufacturing's Role In Job Creation Evolves The Same Way In Every Country

It’s no secret that the richer you get, the more services you demand.

In a new report from the McKinsey Global Institute, we learn that the manufacturing sector’s share of employment rises and then falls as GDP per capita rises.  The decline is associated with the rise in service sector hiring as people demand more services.

“This pattern holds across advanced economies and will hold for today’s developing economies as they become wealthier,” write the authors.

From McKinsey:

mckinsey manufacturing

Photo: McKinsey Global Institute

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at