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What’s Our Duty to the People Globalization Leaves Behind?
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Rattner looks with alarm at recent figures showing that of 2.65 million jobs created in the U.S. in 2015, only 30,000 were in manufacturing. He reflects on growth in manufacturing with the recovery in automobile manufacturing between 2009- 2013 - during this period employment in the U.S. auto industry went up by 23 percent to 690,000, and employment in Mexico's auto industry went up by 60 percent to 589,000, showing much faster growth overseas. Manufacturing has also experienced decline in private sector wages of 0.8% since 2009, with auto industry wages down 12.7 percent, says Rattner.
Globalization and manufacturing job losses in the U.S. and Canada 2000-2015
01/26/2016
Wage stagnation in the manufacuring sector in the U.S. is another aspect of the globalization trends, as workers in the U.S. compete with low wage workers in emerging markets such as Mexico and China.
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