Moneyemploymenteconomics

Tue Dec 18, 2018, 10:26 AM

America's dying industries: These businesses lost the most workers in past decade

In 2017, 153.3 million Americans were employed in either full- or part-time jobs, up 5.4% from 2008. Job growth was not uniform across all industries, however. In many industries, the number of people employed shrank considerably, with some industries shedding more than half of their workforce.

Nearly all of the industries that lost a large share of their employees struggled to compete with advancements in technology. America’s increasing reliance on the internet and connected devices spelled disaster for printed media.

Technological advancement has also given way to increased automation in factories, reducing the need for workers. Many industries in the manufacturing sector were also affected by outsourcing. Operations affiliated with U.S. companies employ millions of workers overseas, and many of them are in industries that rank on this list.

24/7 Wall St. reviewed annual employment data from the Bureau of Labor Statistics from 2008 to 2017 to identify the fastest dying industries. Industries on this list had employment declines of at least 37% in the last decade. Eight industries lost over half of their workers during that time.

https://www.usatoday.com/story/money/2018/12/18/americas-dying-industries-businesses-losing-most-workers/38693221/

3 replies, 236 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 3 replies Author Time Post
Reply America's dying industries: These businesses lost the most workers in past decade (Original post)
Agent_86 Dec 2018 OP
freedumb2003 Dec 2018 #1
Gamle-ged Dec 2018 #2
Magyar Heidinn Dec 2018 #3

Response to Agent_86 (Original post)

Tue Dec 18, 2018, 10:42 AM

1. Next up -- restaurant workers

 

If the $15/hr movement "wins"it will result in all fast foot restaurants being robotic.

2 workers per shift to watch the robots. Net loss of employment: 25 per shift (+/-).

People who don't understand "opportunity cost" should not try to influence economics.

In fact people who don't know the difference between "supply and demand" and "quantity supplied and quantity demanded" can NOT opine on matters economic.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Agent_86 (Original post)

Tue Dec 18, 2018, 10:51 AM

2. The onset of automobile manufacturing largely destroyed the buggy whip business. I say "largely"...

... because the dominatrix industry bought a certain number of the product...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Agent_86 (Original post)

Tue Dec 18, 2018, 11:24 AM

3. Fluid power and storage.

No worries.

Reply to this post

Back to top Alert abuse Link here Permalink

Moneyemploymenteconomics