Columbus Dispatch Reports 2006 Manufacturing Job Losses

The Columbus Reported that 2006 tied 2003 for record number of job losses in Ohio's manufacturing sector. Ohio has now lost over 200,000 manufacturing jobs. It's percentage of people employed in manufacturing has gone from 17% of the work force down to 14%. A big reason is competition from overseas companies. This state is seeing the loss of good paying jobs.

The media likes to report on unemployment figures. Unemployment figures, though, are only the tip of the analysis. If you are replacing manufacturing jobs with service industry jobs and if such jobs don't pay as much, then consumers have less money to spend. Consumers spending less will eventually result in fewer jobs in the service sector. It means consumers having less money to spend on doctors, lawyers, insurance, dentists, and other professions who think their education will protect them from the effects of Ohio losing manufacturing jobs.