How Has Technology Affected the Workforce?
According to the Department of Labor, after adjusting for inflation, manufacturing output in the United States is up 62% over the last 30 years from December 31st of 1987 to December 31st of 2017.
However, the number of actual manufacturing jobs in the United States have declined almost 30% during that same 30 years, falling from 17.8M workers to 12.6M workers.
As you can see, factories have become more efficient but that has not created more jobs over the 30 years.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.