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Study: U.S. manufacturing, logistics industries grew dramatically over last generation
- June 12, 2017
- News Release
- Shop Management
Contrary to public perception, the U.S. manufacturing and logistics industries experienced dramatic growth over the past generation, says a new report from Ball State University.
U.S. manufacturing production grew 11 percent since the dot.com bust (2000-03) and the ensuing economic turbulence of the 2001 and 2007-09 recessions, according to “Manufacturing and Logistics: A Generation of Volatility & Growth,” released by the Ball State Center for Business and Economic Research (CBER) and Conexus Indiana.
“According to folklore, this has been a terrible generation for manufacturing and those who move goods,” said CBER Director Michael Hicks, George and Frances Ball Distinguished Professor of economics and business research. “That isn’t really what the data says. Indeed, 2015 was a record manufacturing production year in inflation-adjusted dollars. While 2016 fell just short with some weakness in the first and second quarter, 2017 looks to be a new record year.
“Most of the confusion about manufacturing and logistics is due to declining employment over the past generation,” Hicks said. “The fact is, manufacturing firms have become very lean, and productivity growth means more goods produced with fewer workers.”
The study reports that three factors have contributed to a decline in employment:
- The workforce is better-educated and -trained, increasing productivity.
- Mechanization has displaced some workers.
- Improved processes, such as lean, Six Sigma and other management methods, have increased manufacturing production.
Since peak manufacturing employment in 1979, the U.S. has lost about 7.5 million manufacturing jobs but gained more than 9 million jobs in trade, transportation, and utilities, the broadest measure of the logistics industry.
“Trade and productivity growth shifts job opportunities to other places and other sectors even as employment grows,” Hicks said. “We are at peak U.S. employment right now.”
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