Manufacturing versus Real Estate

Wednesday, September 07, 2005 | 09:04 AM

Interesting chart via PIMCO's Bill Gross, comparing manufacturing employment with tat of Real Estate agents. Recall we visited a related subject  back in April, looking at the bull market in Real Estate Agents.

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click for larger chart

Pimco_re_agents_chart2


Note the two scales are very different. The chart doesn't specify, but I am assuming that its in 1,000s.

The key takeaway is the ongoing shift -- now in its 3rd decade -- away from a manufacturing economy and towards a services ased one.

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Source:
“Lunch” Time
Bill Gross
PIMco Investment Outlook, September 2005
http://www.pimco.com/LeftNav/Late+Breaking+Commentary/IO/2005/IO+September+2005.htm (PDF)

Wednesday, September 07, 2005 | 09:04 AM | Permalink | Comments (8) | TrackBack (0)
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Comments

The difference in scale is more then 10 times.

Yes, manufacturing employment is declining and
services employment is rising.

But this chart of two things on such a divergent scale that it
has the apperance of being a deliberate distortion. I think it is just sloppy thinking.

Real estate employement is still only some 10% of manufacturing employment -- at least from reading the data off the scales.

Posted by: spencer | Sep 7, 2005 9:36:24 AM

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