Topic > American Manufacturing and the US Economy - 696

For more than half a century, American manufacturing has dominated the world. Many large American businesses and corporations began during this time. Companies such as GeneralMotors, Levi, and Ford became widely known and promoted. American manufacturing became synonymous with quality, greatness and reliability. However, manufacturing in the United States began to collapse as the economy entered this recession. It might seem that the country that used to produce everything is actually on the verge of producing virtually nothing. US manufacturing jobs are disappearing at a rapid rate and the unemployment rate is rising, but despite the disappearing jobs, American productivity is rising and Americans still lead the world in manufacturing. An important economic concept raised in this article is unemployment. The percentage of U.S. workers employed in manufacturing has fallen from 16.5 percent in 1987 to 10.8 percent today....