New jobs

In the recent past the US trade deficits have increased dramatically and today stands at $1.2 trillion. Up until the 1960 the US normally had a trade surplus but this changed as globalization became the new world economic system. The result was the decline in manufacturing and the rise of the financial industry. This meant stagnant wages for working people and high profits for big business and the executives that worked in these businesses. The income gap soared based not on productivity but on favoring the financial sector and this was not based on merit. While a specific average CEO salary for 1950 is not readily available, the average CEO's pay was about 20 times the salary of the average worker during that era. This was a period of lower income disparity between CEOs and employees, with CEO compensation increasing to more than 600 times the average worker's pay by 2020. It is not reasonable to assume that today’s CEOs are 30 times more productive than those in the 1950’s. The country and indeed the Western world is now reversing this trend and the US will once again become a manufacturing power house. A recent poll said that 25% of respondents feel they would be better off working in a factory. This would be a three-fold increase over the 8% who now are factory workers. These new factories will be using the latest technology and AI to increase productivity which means higher wages and benefits. High schools and tech colleges along with on-the-job training will increase the value of the employees and add to the efficiency of the operation.