The Evolution of US Industry and Manufacturing

US industries have evolved as offshore supply chains have afforded economic advantages in this new era of globalization.While some industry sectors are suffering losses, industry sectors such as Chemical and Finance have experienced revenue growth in recent years.In order to examine the recent evolution of US manufacturing, this study tracks trends for the last two decades by following the performance of Fortune 1000 companies aggregated into process-specific sectors.A forecast based upon these trends is postulated so that the United States of America may adapt as a nation and maintain an edge in the global marketplace.Overall, the analysis provides a bigger picture view of US manufacturing and how it is growing to meet changing demands that will continue to diverge from the model of 20 th century production.The decrease in big "M" manufacturing throughout the United States over the past several decades is actually not as it seems.A substantial contribution to the seeming loss of manufacturing jobs involved a shift to other industries where individuals performing what had previously been categorized as a 'manufacturing' task was re-labeled as 'service.'Changes of this nature have appreciable impact on the classifications and data of the Bureau of Labor Statistics, these factors are explored.The impact of the current economic crisis and very definite loss of jobs is also addressed, and the impact on each industry analyzed.The trends disclosed will be compared with previously published data.