The comeback of the U.S. auto industry following a government bailout has not included substantial job growth.
No doubt about it, the U.S. auto industry is back – producing more cars and posting profits – three and a half years after an $80 billion government bailout. What’s missing from the resurgence is substantial growth in assembly-line jobs.
At its peak point of employment in October 2004, the U.S. auto industry counted more than one million workers. During the recession, employment slipped and by 2009, it had dropped to 622,700 workers.
Since that low point, output has increased significantly, but employment only slightly. The most recent data from 2011 shows 700,900 workers employed.
Check out our photo gallery for more on employment in the auto industry. See “What Do Others Say?” for more views, then add to the discussion below. What do you think accounts for this lag in job growth?