We next consider job losses in computer and electronic product manufacturing (NAICS 334). Here we find a large, diverse, and important assortment of electronic products, including:
Factories in these industries, which employed 1,940,000 workers at the beginning of 1990, employed an average 1,057,517 in 2014. The following figure and chart illustrate those job losses:
After a dip following the 1990-91 recession, we see a steady increase through the economic expansion of the 1990s, to twin peaks of 1.8 million jobs in 1998 and 2000. Following is a precipitous drop beginning after 2000, coincident with the 2001 recession and the granting of permanent most favored nation status and WTO membership to China, and a gradual decline from 2003 through 2008. The rate of loss accelerates through the Great Recession, followed by a shallower decline to a low of 1,050,517 jobs in 2014,
Between 2000 and 2014, the computer and electronic product manufacturing industry[i] shed nearly half of its jobs: a 46% decline in employment, some 890,000 jobs in all
GO TO Group 9.
[i] Industries in the Computer and Electronic Product Manufacturing subsector group establishments that manufacture computers, computer peripherals, communications equipment, and similar electronic products, and establishments that manufacture components for such products. The Computer and Electronic Product Manufacturing industries have been combined in the hierarchy of NAICS because of the economic significance they have attained. Their rapid growth suggests that they will become even more important to the economies of all three North American countries in the future, and in addition their manufacturing processes are fundamentally different from the manufacturing processes of other machinery and equipment. The design and use of integrated circuits and the application of highly specialized miniaturization technologies are common elements in the production technologies of the computer and electronic subsector. The computer and electronic product manufacturing subsector consists of these industry groups: Computer and Peripheral Equipment Manufacturing (NAICS 3341); Communications Equipment Manufacturing (NAICS 3342); Audio and Video Equipment Manufacturing (NAICS 3343); Semiconductor and Other Electronic Component Manufacturing (NAICS 3344); Navigational, Measuring, Electro-medical, and Control Instruments Manufacturing (NAICS 3345); and Manufacturing and Reproducing Magnetic and Optical Media (NAICS 3346). North American Industry Classification System, published at http://www.bls.gov/iag/tgs/iag334.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: