In the next 10 years, manufacturing employment is projected to decline and is expected to lose 814,100 jobs by 2024, according to data from the Bureau of Labor Statistics.
The agency, which produces employment projections, calculates how many jobs will be added in the next 10 years by industry sector.
Manufacturing jobs have dropped significantly since 2004. At that time, there were 14,319,000 jobs in manufacturing, and in 2014 that number dropped to 12,188,300. The BLS projects that these jobs will decline even further in 2024 to 11,374,300—a loss of more than 800,000 jobs.
President Obama promised in a 2012 speech at the Democratic National Convention that he would create one million new jobs in manufacturing by 2016. So far, only 370,000 have been created since he made that speech.
"We can help big factories and small businesses double their exports, and if we choose this path, we can create a million new manufacturing jobs in the next four years," Obama said. The number of employees in manufacturing has actually declined by 243,000 since Obama took office.
