I have been confused lately by contradictory messages coming from people and news sources I pay attention to. On the one hand I hear and read—from knowledgeable sources—that manufacturing in the U. S. is becoming “hollowed out.” Factories are closing or moving to cheaper countries. Workers are being laid off. Manufacturing in the U. S. isn’t what it used to be. Index of Industrial Production (red) plotted on same graph as Manufacturing Employment (blue). Gray shaded bars are years when the economy was in recession, with the yellow shaded area caused by COVID-19. On the other hand, in my […]
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