New Directions in Manufacturing Report of a Workshop (2004) / Chapter Skim
Currently Skimming:
14 Economic Challenges to American Manufacturing
14 Economic Challenges to American Manufacturing
Pages 82-87
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 82... ...
The question is whether or not, if the current economic course is held, the United States will continue to have the manufacturing base that it needs. From the labor point of view, the answer is, absolutely not.
|
From page 83... ...
This gap is one of the labor movement's most serious concerns, along with maintaining production. Workers in the manufacturing sector earn on average $24.30 per hour, in comparison with $22.06 per hour for workers in non-manufacturing sectors and $19.74 for workers in the service sectors.1 Within manufacturing jobs, there is a considerable advantage to being in a union, because both wages and benefits are higher for workers represented by a union.2 Unfortunately, there is a declining union density and varying amounts of union representation in most industrial sectors.3 This declining power of worker representatives in manufacturing has caused the gap to open up between compensation and productivity.
|
From page 84... ...
The economy is more open than in earlier recessions, with imports and exports as a percentage of national income being much higher. Therefore, if the government spends money now, in the form of new government spending or tax increases, a large part of the money will be spent on goods not manufactured in the United States.
|
From page 85... ...
In 2001, the United States owed $2.3 trillion, or close to 23 percent of the GDP, from this practice of consuming beyond our means. By 2006, unless these policies and practices are changed, it is estimated that the United States will have built up a debt equal to 40 percent of the GDP.
|
From page 86... ...
At that time, companies in Japan were competing with companies in the United States, and it was a challenge for America and for American competitiveness. Eventually, however, this trend progressed from the textile and apparel industry into the electronics, automobile, and most other manufacturing industries.
|
From page 87... ...
Manufacturing companies today are under tremendous pressure from a variety of sources, including increased competition in the product markets. For domestic industries, this pressure may have come about as a result of deregulation and privatization of services and goods.
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.