In his 2012 State of the Union Address, President Obama sought to "embrace manufacturing". Since the President has been in office for three years now, we thought we would take a look at how well he's done so far in embracing manufacturing, by his own terms.
Our first chart shows the seasonally-adjusted number of individuals employed in the Manufacturing and the closely-related Transportation and Warehousing industries (aka "the supply chain"), which is based upon data collected by the Bureau of Labor Statistics in its Current Employer Survey, as of 22 January 2012, from November 2007 through December 2011.
In the chart above, we've emphasized several points with bold text indicating the number of employed at various points of interest. These points correspond to the month preceding the start of the "Great Recession", the month President Obama was sworn into office, the bottom of job loss for the recession, and the most recent month for which we have data, December 2011.
Here, we find that the number of individuals counted as being employed in the manufacturing and supply chain industries has fallen considerably from November 2007 through the present, with 1,583,000 fewer being employed in Manufacturing and 1,964,000 fewer being employed in Transportation and Warehousing as of December 2011. Together, these two sectors of the U.S. economy represent almost 3 out of 5 of all the jobs that have disappeared from the U.S. economy since November 2007.
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