The Impact of Tariffs on U.S. Manufacturing Jobs
The article explores whether manufacturing jobs are unique by examining the 'manufacturing premium,' which is higher wages compared to other sectors, especially in advanced manufacturing. It discusses reasons for this premium, such as unionization, the use of expensive machinery, and job risks, and highlights that manufacturing still provides a significant share of good jobs for non-college-educated workers, despite a decline over decades. Economists are skeptical about restoring large numbers of manufacturing jobs but emphasize the importance of investing in workforce development and creating good jobs in the service sector.