Manufacturing Industry Trends

By: EconomyWatch   Date: 29 June 2010

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Manufacturing industry trends suggest that a tendency for self employment is gradually catching up in the manufacturing industry scenario. There is a wide disparity between the ownership rates in the rural areas and the other parts of the country. However, due to insufficient funds, not many entrepreneurial schemes are being implemented. Manufacturing industry trends also indicate that there has been a growth in employment opportunities in the manufacturing industries in different sectors. Automobile manufacturing industry shielded the US economy in the event when the country encountered recession. The economy of United States Of America, was subjected to several transformations in the last decade. Changes in forestry, mining as well as technological modifications pertaining to agriculture industry were witnessed. Large scale production also led to the switching over of workers to the industries manufacturing goods. This gave rise to increase in the number of industrial belts across USA.

Manufacturing industry trends and employment:

Records reveal that there was growth in employment opportunities in the manufacturing industries by 14% between 1994 through 2005. This was a sharp contrast to the growth in manufacture related to employment between 1983 through 1994 which was 24%. During the same period, 33% employment growth was registered in local government, state government, hospitals as well as education sector. Manufacturing industry trends also imply that working opportunities in the retail industry registered 13% growth, insurance, finance and real estate industry recorded 6% of employment opportunities. Transport industry, communication industry offered 7% of the jobs.

Manufacturing Industry trends manifesting real earnings:

Jobs offered by the wholesale industry was 7%. Manufacturing industry trends suggest that in the event when production increases in the service sector, simultaneously, there is a rise in the productivity of the manufacturing sector too. This causes the total earnings of the service sector as well as the manufacturing sector to meet at some point. Consequently, the strength of the workers can also be downsized.

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