In the last 30 years, the employees in the manufacturing sector have been decreasing while the employees in the financial sector have increased. The jobs in US manufacturing sector disappeared while jobs in financial sector increased due to the globalization. Before the IT bubble popped (1997-2000), the share of employees in total non-farm employees in the financial sector reached the highest point (6.5%), but It has been gradually declining since then. If the share of employees in the financial sector accounts for more than 6% of the total non-farm employees, it indicates that the financial markets, especially the stock market, is bubbles. However, the current share of employees in fiancial market in total non-famr employees is not yet 6%.
The chart below shows the share of employees in financial services in total non-farm employees which has been increasing while the share of employees in manufacturing has been decreasing.
The chart below shows the employment in financial activities and current number of employees in financial activities reaches the highest level before the financial crisis.
