In article , Ron Bean says...

They'd only all be unemployed if you made the assumption
that they're all employed in manufacturing now. But that's
an unwarranted assumption. In fact, less than 8% of the
US workforce is employed in manufacturing now.

I think the question is what happens if there's a sudden 8% jump
in our unemployment rate (or whatever the number is).

I always believed the tale that manufacturing jobs are
pretty highly leveraged, that the 8% in manufacture
actually generate much more than that in serivce jobs,
like a factor of two or three.

So what if (playing 'what if') the 8% unemployement
increase really winds up being 24% increase?

Jim

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