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Or, do we still make plenty of things, but automation and robots have cut employment?
Thoughts?
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I have no idea on hard data but here's a thought.
Below are the top 10 things that the U.S. exports
Machines, engines, pumps: US$205.8 billion (13.7% of total exports)
Electronic equipment: $169.8 billion (11.3%)
Aircraft, spacecraft: $131.1 billion (8.7%)
Vehicles: $127.1 billion (8.4%)
Oil: $106.1 billion (7.1%)
Medical, technical equipment: $83.4 billion (5.5%)
Plastics: $60.3 billion (4%)
Gems, precious metals, coins: $58.7 billion (3.9%)
Pharmaceuticals: $47.3 billion (3.1%)
Organic chemicals: $38.8 billion (2.6%)
I put in boldface those items which I think have have seen growth through tremendous automation.
5 out of the top 6 imports fall into that category.
So yes, I think we do a whole lot of manufacturing here. And a lot of it high skilled manufacturing. But the biggest stuff has been automated and has cut into the need for human resources.
We've also completely outsourced our textile industry. We ship cotton and wool we grow here all over the world just to have it made into clothes and sent back to us.
Edit to add: Some additional info posted in December 2016
American exports amounted to US$1.51 trillion during 2015, up 1.5% since 2011 but down -7.1% from 2014.
America’s top 10 exports accounted for 68.4% of the overall value of its global shipments.
Based on statistics from the International Monetary Fund’s World Economic Outlook Database, US total Gross
Domestic Product amounted to $17.968 trillion in 2015.
Therefore, exports accounted for about 8.4% of total American economic output.
Given United States’s population of 321.4 million people, its total $1.51 trillion in 2015 exports translates to roughly $4,682 for every resident in that country.
United States’s unemployment rate was 4.9% as of January 2016 — a marked improvement from the 6.2%
jobless rate in 2014.
Last edited by TheLagerLad (1/10/2017 1:08 pm)
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Manufacturing is certainly not dead, however many manufacturing jobs are permanently dead.