Manufacturing Productivity Productive

by Don Boudreaux on December 26, 2009

in Myths and Fallacies,Seen and Unseen,Standard of Living

Arnold Kling points to an important post by Mark Perry.

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  • vidyohs
    "manufacturing employment in the United States fell below 12 million this year for the first time since 1946, and is now at the lowest level (11,648,000 manufacturing jobs in November) since March of 1941"


    "According to the Federal Reserve, the dollar value of U.S. manufacturing output in November was $2.72 trillion (in 2000 dollars), which translates to $234,220 of manufacturing output for each of that sector's 11.6 million workers, setting an all-time record high for U.S. manufacturing output per worker..."

    Employment numbers are compared between the present and pre-1946, and the dollar value of each worker is compared in 2000 dollars. I would have to ask how the dollar value of each worker would compare in 1941 dollars with inflation factored in.

    I have no clue and that is why I would have to ask, but it seems a reasonable question just to make sure the implication made by Kling is valid.
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