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How the American Economy has Changed in the 21st Century

HOW THE AMERICAN ECONOMY HAS CHANGED IN THE 21ST CENTURY



Industry as a Percentage of Gross Domestic Product



2000



2004



2008



2001



16%



14%



12%



10%



8%



6%



4%



2%



0%



Manufacturing



Construction



Professional & Business Services



Educational Services, Healthcare & Social Services



Government



Manufacturing declined from 14.2% of GDP in 2000 to just 11.5% of GDP in 2011



Construction declining from 4.7% of GDP in 2000 to just 3.5% of GDP in 2011



Professional & Business Services grew from 11.2% of GDP in 2000 to 12.5% of GDP in 2011



Education, Healthcare, & Social Services grew from 6.8% of GDP in 2000 to 8.7% of GDP in 2011



Government grew from 12.2% of GDP in 2000 to 13.2% of GDP in 2011



THE TOTAL GDP IN 2011 WAS $14.99 TRILLION DOLLARS



THIS MEANS...



Manufacturing made up 2.7% Less of the GDP in 2011 than it did in 2000. That's a decline of roughly $404 BILLION Dollars annually just since the year 2000!



$404 BILLION DOLLARS IS EQUIVALENT TO THE VALUE OF:



The entire GDP of the countries of Thailand, The United Arab Emirates, or Venezuela.



Government made up 1.0% More of the GDP in 2011 than it did in 2000. That's an increase of roughly $149 BILLION Dollars annually just since the year 2000!



$149 BILLION DOLLARS IS EQUIVALENT TO THE VALUE OF:



Over 23x the estimated $6.4 billion cost of the new eastern span of the Bay Bridge between Oakland and San Francisco.



Education, Healthcare, & Social Services made up 1.9% More of the GDP in 2011 than it did in 2000. That's an increase of roughly $284 BILLION Dollars annually just since the year 200!



$284 BILLION DOLLARS IS ENOUGH MONEY TO:



Pay for 4 years of tuition ($58,600 including room & board) at Yale University's 2012-13 costs for over 1.21 million students.



Construction made up 1.2% Less of the GDP in 2011 than it did in 2000. That's a decline of roughly $179 BILLION Dollars annually just since the year 2000!



$179 BILLION DOLLARS IS EQUIVALENT TO:



7x the estimated cost of the Big Dig project which was $24.3 billion in Boston, Massachusetts



Professional & Business Services made up 1.3% More of the GDP in 2011 than it did in 2000. That's an increase of roughly $194 BILLION Dollars annually just since the year 2000!



$194 BILLION DOLLARS IS ENOUGH MONEY TO:



Pay for 384 hours of professional legal consulting at $250/hour for each of the 2.02 million incarcerated individuals in the United States.

How the American Economy has Changed in the 21st Century

shared by jessief on Dec 17, 2012 in Economy

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Our friends over at InetSoft Technologies recently created an infographic about “How the American Economy has Changed in the 21st Century”. Working with data visualization and business intelligenc...
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