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Two Of The Most Exciting Areas Of The US Economy Are Hardly Creating Any Jobs For Americans
http://www.businessinsider.com/manufacturing-and-mining-employment-2013-6he post-crisis era has seen a lot of hype around two areas of the US economy: Manufacturing (there's been tons of talk about a manufacturing renaissance) and oil and gas extraction.
Both are legitimately interesting. Neither are big job creators, as yesterday's jobs report reminded us.
First let's look at oil and gas mining. The industry really employs very few people.
Less than 200K people are in the oil and gas extraction business.
And on a month over month basis, just 500 or so new jobs were created in May.
Read more: http://www.businessinsider.com/manufacturing-and-mining-employment-2013-6#ixzz2VdH6eGDA
2 replies
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It's going to be awhile before those jobs come back, if ever.
Sadly, one of the things that's getting them back is the destruction of unions and benefits for that sector.
And, we haven't been training a workforce to take these jobs.
As to the Oil and Gas extraction numbers, I have no clue except that demand growth has fallen due to the economy and technologies are such that fewer hands are needed to extract a given amount of product.
