Last year, the share of the workforce involved in manufacturing was below 10 per cent in both countries, with the US figure a bit lower than the Canadian. Of course, today’s factories are much more productive than those in 1955. US manufacturing is almost seven times more productive than it was 60 years ago, while Canadian factories are roughly five times more productive.
These medical advances and the baby boom after the war, together with longer life expectancy, are true blessings for economic growth, bringing what are often called population dividends, with many young workers producing and few old people being supported. However, at some point in time, the trend had to be reversed.