http://dollarsandsense.org/blog/2009/01/steel-industry-looking-for-1-trillion.html The Blog for Dollars & Sense Mon, 30 Jan 2012 17:20:56 +0000 hourly 1 http://wordpress.org/?v=3.1.2 http://dollarsandsense.org/blog/2009/01/steel-industry-looking-for-1-trillion.html/comment-page-1#comment-222 Dollars and Sense Sat, 03 Jan 2009 19:52:12 +0000 http://dandsblog.wordpress.com/2009/01/03/steel-industry-looking-for-1-trillion#comment-222 The service sector is certainly in the ascendency, but manufacturing remains a vital part of the U.S. economy, both directly and indirectly. According to the Economic Policy Institute, manufacturing accounted for 10% of total US employment in 2007, and represented 12% of GDP in 2006. Many individual states are heavily dependent on manufacturing. See http://www.epi.org/content.cfm/webfeatures_snapshots_2008 this for more info. The service sector is certainly in the ascendency, but manufacturing remains a vital part of the U.S. economy, both directly and indirectly. According to the Economic Policy Institute, manufacturing accounted for 10% of total US employment in 2007, and represented 12% of GDP in 2006. Many individual states are heavily dependent on manufacturing. See http://www.epi.org/content.cfm/webfeatures_snapshots_2008 this for more info.

]]> http://dollarsandsense.org/blog/2009/01/steel-industry-looking-for-1-trillion.html/comment-page-1#comment-223 Clarence Ewing Sat, 03 Jan 2009 14:44:00 +0000 http://dandsblog.wordpress.com/2009/01/03/steel-industry-looking-for-1-trillion#comment-223 <>"The steel industry, having entered the recession in the best of health, is emerging as a leading indicator of what lies ahead. As steel production goes - and it is now in collapse - so will go the national economy."<> I would like to ask - on what basis does the author make this claim? I keep reading these opinions that manufacturing is the canary in the coalmine for the US economy, but is this really true? The US has been a service-based economy for at least the last two decades. Heavy industry like steel went overseas years ago. Maybe what we're seeing in the US steel sector is the logical result of companies that can't compete in a globalized market and no longer have a soaring stock market to hide behind? <>“The steel industry, having entered the recession in the best of health, is emerging as a leading indicator of what lies ahead. As steel production goes – and it is now in collapse – so will go the national economy.”<> I would like to ask – on what basis does the author make this claim? I keep reading these opinions that manufacturing is the canary in the coalmine for the US economy, but is this really true? The US has been a service-based economy for at least the last two decades. Heavy industry like steel went overseas years ago. Maybe what we’re seeing in the US steel sector is the logical result of companies that can’t compete in a globalized market and no longer have a soaring stock market to hide behind?

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