Thursday, February 4, 2010
Recession Leads to Radical U.S. Manufactuting Shifts
In the wake of the global economic recession manufacturers are beginning to restructure their businesses. Moves are accelerating the United States' manufacturing economy's long-term shrinkage. Manufacturing is now moving away from heavy sectors like cars and basic chemicals towards higher-tech products like computer chips. Car manufacturers in particular are shutting down facilities or investing in smaller, more-efficient facilities; chemical makers are moving their labor-intensive operations to countries with lower wages. As a result of the shifting, economists are expecting that unemployment will remain high for the next several years.