We next consider job losses in fabricated metal product manufacturing (NAICS 332). Here we find a wide range of goods, large and small, as the primary metal products make their way into the production stream. Products include iron, steel, and other metal forgings and stampings, prefabricated metal buildings, structural metal and reinforcing bars, metal windows and doors, sheet metal products for air conditioning, roofing, awnings, ornamental and architectural metal products hand tools and saw blades, metal kitchen utensils, cutlery, and razor blades.
Manufacturing facilities in this large and diverse subsector, which employed 1,620,300 workers at the beginning of 1990, employed an average 1,454,950 in 2014. The following figure and table illustrate those job losses:
After a dip following the 1990-91 recession, we see a robust increase through the economic expansion of the 1990s, to over 1.7 million jobs in 2000. Following is a precipitous decline beginning after 2000, coincident with the 2001 recession and the granting of permanent most favored nation status and WTO membership to China. Showing a modest recover from 2003 through 2007, job losses accelerate again through the Great Recession, bottoming out at about 1,282,000 jobs in 2010, for a loss of some 298,000 jobs. Since the low of 2010, employment has seen a recovery of some 172,000 (37%) of the lost jobs, to an average of 1,454,950 jobs in 2014.
Between 2000 and 2014, after experiencing a partial recovery in 2010-2014, the industries in the fabricated metal manufacturing subsector[i] shed about one out of every five jobs, an 18% decline in employment, 298,000 jobs in all.
GO TO machinery manufacturing.
[i] Industries in the Fabricated Metal Product Manufacturing subsector transform metal into intermediate or end products, other than machinery, computers and electronics, and metal furniture, or treat metals and metal formed products fabricated elsewhere. Important fabricated metal processes are forging, stamping, bending, forming, and machining, used to shape individual pieces of metal; and other processes, such as welding and assembling, used to join separate parts together. Establishments in this subsector may use one of these processes or a combination of these processes. The fabricated metal product manufacturing subsector consists of these industry groups: Forging and Stamping (NAICS 3321); Cutlery and Hand tool Manufacturing (NAICS 3322); Architectural and Structural Metals Manufacturing (NAICS 3323); Boiler, Tank, and Shipping Container Manufacturing (NAICS 3324); Hardware Manufacturing (NAICS 3325); Spring and Wire Product Manufacturing (NAICS 3326); Machine Shops; Turned Product; and Screw, Nut, and Bolt Manufacturing (NAICS 3327); Coating, Engraving, Heat Treating, and Allied Activities (NAICS 3328); and Other Fabricated Metal Product Manufacturing (NAICS 3329). [North American Industry Classification System, published at http://www.bls.gov/iag/tgs/iag332.htm.]
May 15, 2014, Ontario, CA - MIAA's founder, Jim Stuber, delivered the keynote address at the 20th annual World Trade Conference sponsored by the U.S. Department of Commerce and the California Inland Empire District Export Council in Ontario, California. To view the conference agenda, click here:
May 7, 2015, Radnor, PA. MIAA's founder, Jim Stuber, appeared as the guest of host Richard J. Anthony, Sr. on The Entrepreneur's Network TV at Radnor Studio 21. The program featured a discussion of the problems caused by offshoring manufacturing and white collar jobs and how consmers can solve the problem with their spending decisions.
Studio 21 has made the program available for viewing here: