The American Economy : Service Oriented While The Us Manufacturing

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Introduction When reading the statement "More than 70% of the US economy is service-oriented while the US manufacturing has shrunk 60% since just 1970 as a result only 1 in 10 Americans works in a manufacturing job. The US does not make, we take." (Fitz-Gerald) It made me realize how much our economy has evolved. Americans are more dependent on services while manufacturing jobs have become less attractive to job seekers. The demand for manufactured goods and products remains high; however, the service sector is getting the biggest chunk of the pie. Someone else is doing the work for us, therefore we feel comfortable giving away our hard-earned money for services and products that often times are not necessary but convenient. Development Our economy has gone through several changes over the years. During the early 1900s the United States was under a growing stage and manufacturing was necessary to accomplish this objective. One hundred years ago technology was not as advanced as it is today and man power was required throughout the manufacturing process. The growth of the railroad, manufacture of war equipment and growth of cities are only a few examples on how manufacture played an important role. Post World War II a trend that fueled industrial growth remained strong and it was not until the 1970s when we start to see a decline in the construction and manufacturing industry and a rise on real state, wholesale trade and healthcare. These latest service sectors continue
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