Which industry is projected to produce the most new jobs by 2016? Education and Health Services - 5.5 Million

Which industry is projected to lose the most jobs by 2016? Manufacturing - 1.5 Million

In general, Manufacturing is losing while Service is Gaining What generality can you make about industries that are losing jobs after comparing them with those that are gaining jobs? In general, Manufacturing is losing while Service is Gaining

Construction, unlike other manufacturing jobs, will gain 800,000 How does construction break from the general pattern in the goods-producing industries? Construction, unlike other manufacturing jobs, will gain 800,000

Education and Health Services (demand up, supply lags behind) Which industry will probably experience the greatest increases in wages? Why do you think so? Education and Health Services (demand up, supply lags behind)

OFFSHORING The left column shows the gain/loss of US employees for Multinationals The right column shows the gain/loss of Foreign employees by multinational (offshoring) The majority of job loss in the US is Manufacturing The majority of offshoring comes from Other Industries (SEE NEXT SLIDE)

OFFSHORING The majority of offshore jobs is Retail Trade (employees of Walmart working in foreign stores or workers making Nike shoes) Accommodation and food service (foreign workers in hotels or restaurants owned by US companies)

Remember that much of Temporary Work is preferred by the employee as well as the employer (contract labor) These are not just people that can’t get a full time job

This graph is just showing where foreign born workers are typically employed. Off all the foreign-born employees, 28 percent work in Management (this does not mean that 28% of Management is foreign-born)

BENEFITS The current hourly cost of benefits is $8.57, up from $7.87 in 2005