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Economics

The Case Of The Missing Jobs

Slower output growth and sizzling productivity have curbed factory job creation

By David Huether

Manufacturing in America is producing and exporting more goods than ever before. In 2004 and 2005, manufacturing's expansion easily outpaced that of the larger U.S. economy. Yet after losing 1.5 million jobs during the 2001 recession, manufacturing has shed another 1.5 million workers -- even as the rest of the economy has since added more than 5 million new jobs.