THE AMERICAN JOB MACHINE by Michael Porter

“For decades, America has been unique among large advanced countries in generating large numbers of jobs steadily over time: roughly 2 percent job growth per year [on a rolling 10-year basis that smooths out short-term factors]. That great American job machine started sputtering around 2000. There’s something structural here, because it started before the recent downturn. Moreover, we and others discovered that virtually all the net new jobs created over the last decade were in local businesses—government, healthcare, retailing—not exposed to international competition. That was a sign that the U.S. was not doing well in businesses that have to compete internationally.”

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THE AMERICAN JOB MACHINE by Michael Porter

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