Question

In 1945 manufacturing employed 30% of American workers and manufacturing products amounted to 40% of GDP....

In 1945 manufacturing employed 30% of American workers and manufacturing products amounted to 40% of GDP. Since then the productivity of manufacturing workers has increased 1% per year faster than the average while the real share of output that is manufacturing has remained the same. If this productivity increase were the only important factor, what do you think the share of employment in manufacturing would have been in 2017? What do you think the share of employment in manufacturing will be by 2089?

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Answer #1

Dear student,

Tried to answer you with best possible explanation.

Here I made two assumption, 30% of American population is 100. and productivity of 100 workers is 1000 units collectively.

You may modify the assumption according to your comfort (you can also put any variable like x,y,z) it won't effect your final answer as we are calculating % increase or decreased is employment in manufacturing.

Hit thumbs up if it helped.

Comment your queries.

Good luck.

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