By Doug Short (Guest Post)
In honor of Labor Day, which was signed into law as a national holiday in 1894, I spent some time this morning studying a topic I’ve occasionally mentioned: The shift in the United States from a manufacturing to a services economy.The Department of Labor’s Bureau of Labor Statistics has monthly data on employment by industry categories reaching back to 1939. The first chart below is an overlay of the compete series of employment numbers for the two major categories, manufacturing and services. When I say major, I’m referring to the complete domination of…
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