Questions I wished I asked
Or maybe service and manufacturing are both expanding, but as productivity grows, manufacturing is becoming less and less labor-intensive, more and more capital-intensive? How do we rule out this possibility?
Manufacturing isnt becoming less labor intensive, its being imported.
Also the contribution to GDP moves in lockstep with NFP so its the actual value in terms of spending and employees.
Got it. Thanks, Captain!
Or maybe service and manufacturing are both expanding, but as productivity grows, manufacturing is becoming less and less labor-intensive, more and more capital-intensive? How do we rule out this possibility?
Manufacturing isnt becoming less labor intensive, its being imported.
Also the contribution to GDP moves in lockstep with NFP so its the actual value in terms of spending and employees.
Got it. Thanks, Captain!