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From 1950 to 2000 manufacturing employment as a percentage of total employment in the U.S economy fell from 28 percent to 13 percent At the same time manufacturing output experienced slightly more

From 1950 to 2000, manufacturing employment as a percentage of total employment in the U.S. economy fell from 28 percent to 13 percent. At the same time, manufacturing output experienced slightly more rapid growth than the overall economy.
a. What do these facts say about growth in labor productivity (defined as output per worker) in manufacturing?
b. In your opinion, should policymakers be concerned about the decline in the share of manufacturing employment? Explain.

May 01 2020 View more View Less

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