In the developed world manufacturing production has at worst held steady while jobs in those industries have fallen.
Manufacturing has held steady at about a quarter of US GDP for the last 10 years but total employment in manufacturing has fallen from about 10 percent of the population to about 7 percent.
Now, there is a lot going on here I would agree Millers. Its certainly not just automation. American (and other developed world nations) no longer make socks for example because even with yoooooge tariff walls we just arent going to make socks cheaper than China […]