dirtyp

According to the Bureau of Labor Statistics, the US economy lost 98,000 private sector jobs in
March, half of which were in manufacturing. Today 13,643,000 Americans are employed in manufacturing, of which 9,849,000 are production workers.

Government employs 22,387,000 Americans, 8,744,000 more than manufacturing. Even the category leisure and hospitality employs 13,682,000 Americans, slightly more than manufacturing. There are as many waitresses and bartenders as production workers.

Wholesale and retail trade employ 21,467,000 Americans. Professional and business services employ 18,036,000 Americans of which 8,368,000 are in administrative and waste services. Education and health services employ 18,699,000 Americans.

Financial activities employ 8,228,000 Americans. The information sector employs 3,010,000. Transportation and warehousing employ 4,532,000. Construction employs 7,338,000, and natural resources, mining and logging employ 751,000. Other services such as repair, laundry, and membership associations employ 5,516,000 Americans.

This is the portrait of the US economy according to the Bureau of Labor Statistics. It is an economy in which government is the largest employer. Manufacturing employment comprises just under 10% of total employment and about 12% of private sector employment. Everything else is services, and not particularly high level services.

Is this a portrait of a super economy?
Government is the Largest Employer: The Fading American Economy

donsutherland1

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Scucca

You'd expect deindustrialisation in a mature developed economy, given both high productivity and high income. You'd have to suggest that the US has experienced a negative form, such as experienced by the Brits with the dreadful consequences of Thatcher and her failed monetarist experiment

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SFLRN

The reason most of the economy is not "high services" is that they would cease to be "high services" if everyone could do them. There will always be a smaller supply of jobs that require technical knowledge than jobs that require more generalized skills (part of the middle economy).

Scucca

But why, given the density of low skilled labour compared to other economies, does the US enjoy relatively little upskilling?

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SFLRN

It does have "upskilling." Plenty of people attend community colleges and trade schools that help provide them with vocational skills to help gain "mid-level" positions.

Scucca

I didn't say it didn't. However, compared to other economies, there is clearly more focus on low/unskilled labour.

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SFLRN

In what sense? Are there a larger percentage of jobs that are low-skill? I'm not exactly sure what you mean.

Scucca

In terms of the economics lingo try either "long tail of low skills" or "low skills equilibrium" (although be careful with the later, as they don't use equilibrium in its standard static sense)

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dixon76710

What other economies would that be? Arent you British?