Americans have long been accustomed to reading about the latest job losses and other setbacks for the manufacturing industry, but reports of its demise are overstated, according to a recent report. An article this week in the International Herald Tribune reported that about eight percent of the U.S. labor force currently works in manufacturing, down from 28 percent five decades ago. The report also notes that American manufacturers currently make about 65 percent of the goods consumed in the country, down from 80 percent thirty years ago. Many companies have moved their factories to countries that offer cheaper labor costs and lower environmental standards, gutting traditional U.S. manufacturing sectors like shoes and clothing. However, the IHT report notes that in many cases, American manufacturers are today more likely to focus on higher-profit products such as heavy equipment, airplanes and technology products. The report also points out that despite manufacturing's many troubles in the U.S., the sector still produced $1.6 trillion with of goods in 2007. Schools in some states like Massachusetts have implemented programs aimed at helping students consider and advance in careers that involve manufacturing, spurred by local producers in many cases. Still, the economy seems to offer little good news for manufacturing in the short term, with a recent Bloomberg report noting that U.S. industrial production was down in January, marking the sixth such drop in seven months.  |