By the Numbers Jobs and Manufacturing

By the Numbers Jobs and Manufacturing By the Numbers Jobs and Manufacturing By the Numbers Jobs and ManufacturingImports have become an easy target for Americans in both major political parties. But the countrys high-productivity factories simply dont need as many workers as they used to.Trade has become a hot political issue in the United States, with many people on both ends of the political spectrum wanting to slow or restrict imports to bring back manufacturing jobs. Scenes of abandoned factories and interviews with unemployed industrial workers underscore the point.But how much do imports actually matter?Its true that the U.S. imports many mora goods than it exports to the rest of the world. According to the U.S. Census Bureau, $931.2 billion in manufactured goods were imported in the first six months of 2016, compared to $522.6 billion in exports. Even in the industries where the U.S. manufacturers export the mosttransportation, chemicals, computers and electronics, and non-ele ctrical machinery there was a net trade deficit.But the annual trade deficit in manufactured goods (roughly $800 billion) is a small fraction of the $5.9 trillion worth of goods produced by the U.S. manufacturing sector. In terms of bringing back manufacturing jobs to the levels of 40 and 50 years ago, eliminating trade isnt going to do the trick.Even in its top four export categories, the U.S. ran a trade deficit in the first half of 2016.Comparing the number of manufacturing jobs, as measured by the U.S. Bureau of Labor Statistics, to manufacturing output from 1947 to the present reveals that American factories make much more stuff per worker than ever before. Most of that increase in productivity has occurred since 2000, as factory automation has reduced the demand for workers at the same time that low-value manufacturing began to leave the U.S. While the workforce has been reduced by nearly 5 million since 2000a 29 percent cutmanufacturing output has grown steadily, if slowly.Th at means the factory workers who remain are adding more value than ever before. In 2015, manufacturing output per manufacturing worker was $482,242, just a bit off of the peak by contrast, each manufacturing worker in 2000 produced $336,847 in 2015 dollars. In 1976, the inflation-adjusted production was just $276,525.Indeed, using a simple calculation based on the present rate of productivity, the manufacturing jobs that would be added by eliminating the entire $800 billion annual trade deficit in goods would number around 1.6 millionnot enough to restore the manufacturing jobs lost since 2000, let alone return manufacturing to the central place it once had in the American economy.Read the latest issue of the Mechanical Engineering Magazine.

5 money questions you should be able to answer by 35

5 money questions you should be able to answer by 355 money questions you should be able to answer by 35Keeping on top of personal finances is hard, perhaps especially in the first decade of your career. However, by the time youre 35, a long-term plan for saving, investing, purchasing, and retirement should be starting to come into focus.Here are a few questions you should be able to answer by the time youre 351. How much money will I have when I retire?By the time youre 35, you should have a solid retirement plan with at least a few years worth of investing and saving under your belt. Because compound interest is your friend when it comes to investing, each year you wait to get started can have huge long-term effects on the nest egg youll have when you retire.How much youll have really depends on how youve set up your investment portfolio. Using a combination of investment types, such as a company 401(k) and a Roth IRA, can help ensure youre shuffling the mixtur between high-risk an d low-risk investment. However, until around 40, you should aim toward more high-risk, high-return investments and slowly shift as you get older.No matter how your portfolio is set up, you should be aiming to invest in your retirement plan every year. Timothy G. Wideman, D.B.A. PHR Emeritus, and a retired Associate Professor of Management Human Resources at Doane University, gives the following advice In bestellung to fund an early retirement, folks should strive to invest 20% of their incomes in their combined retirement accounts. That may sound daunting, but sticking to that 20% can have big payoffs in the long run.2. Am I prepared for a major emergency?Theres no way to predict what life has in store for us (although that would be nice). With this in mind, its important to have some emergency funds in case something unexpected happens. According to investment group Vanguard, Most experts believe you should have enough money in your emergency fund to cover at least 3 to 6 months w orth of living expenses. Although that probably sounds like a lot of money, and hopefully you never need it, if you ever do youll be glad you have it.3. Am I paying more for anything than I need to be?Most of us have recurring expenses we dont think about often. Because theyre not actively on our radar most of the time, it can be easy to forget that these expenses can really add up over time. In your mid-30s (and all ages, really), you should be aware of everything that drains a little from each months budget. If you arent sure exactly what youre paying for, or if you cant specify the exact amount your subscriptions and services are costing you, run a quick audit of your monthly bills. Some expenses may be unnecessary (for example, you may find you want to unsubscribe from magazines you dont read often), and some may be necessary but available for a lower price (for example, many cable bills can be negotiated down). Either way, trimming down on any extra recurring costs can really a dd up over time.4. What big expenses are on my horizon?At 35, many people are at different places in their lives. Some may be parents or looking to become parents, while others may be looking to move abroad or take a big career step. However, no matter what your situation, there are probably some big expenses just ahead. Trying to buy a house? Looking to add a baby to the mix? Both of these are huge financial commitments. Will you be ready for them? Only you can answer that, but preparing in advance for your big upcoming expenses can help you make sure youre ready when the right time comes.5. Is money preventing me from reaching one or more of my goals?Money can be many things a safety net, an enabler, a status symbol. But perhaps its most important use is as a tool to achieve the things we want to achieve - and avoid falling into situations we dont want out of necessity. Beth Haiken, an EVP at Method Communications, says, Money isnt stuff - money is autonomyIts what enables you t o make your own decisions and follow your own goals, whether thats a trip you want to take or a job you DONT want to take.If you keep track of how much youre spending and maximize your savings, youll be prepared to use money however you need to when that need arises. Whether its the flexibility to quit a toxic job or the freedom to take the trip of a lifetime, the possibilities provided by keeping on top of your financial situation are well worth the work.A version of this post previously appeared onFairygodboss, the largest career community that helps women get the inside scoop on pay, corporate culture, benefits, and work flexibility. Founded in 2015, Fairygodboss offers company ratings, job listings, discussion boards, and career advice.

What Your Personality Type Means for Your Career

What Your Personality Type Means for Your CareerWhat Your Personality Type Means for Your CareerQuick question When was the last time you took a personality test- and took the results seriously? Its easy to think that these tests are sort of like horoscopes in the back of magazines (really vague compliments that could fit into anyones life), but the results could actually make a huge difference in your career.Interested in seeing what the famed Myers-Briggs test says about you? Though the official test costs money, you can find similar free versions of it (like this one) online to see what your strengths in the office are and what you need to work on.Already know your Myers-Briggs personality type? Check out the infographic below for a rundown of your personality traits and how they translate in the office.Check Out 10 More Career-Related Personality TestsInfographic courtesy of Career Assessment Site.