Recently, there has been increasing concern about
the dramatic drop in U.S. manufacturing employ-
ment. In 2003, 11 percent of workers were employed
in manufacturing, down from 31 percent in 1950.
The number of manufacturing workers has declined
Chapter 6 Huge /)r/(’/'r/'/mn'mi (Iml f/l!’ "ﬁlm/fun q/ [II/101' I75
In the past century, the secular trend of real hourly
wages and real weekly earnings for Americans has
been upward. Increases in labor demand have out-
paced increases in labor s
4 Chapter4 Labor Qualify: Investing in Human ( '(Ipr'm/
Do recessions increase or decrease the number of col-
lege students? The answer, in theory, is uncertain
because business downturns yield conflicting effects
on college enrollment rates.