Press play to watch the US economy evolve over the last 15 years.
Published on Fri, January 31, 2020 1:37PM PST | Updated Tue, November 3, 2020 1:17PM PST
The bubble size in this chart is the gross domestic product (GDP) for each industry and is proportional to the contributions each sector makes to the national economy. This includes compensation to employees, net taxes paid to the government, and profits. An expanding bubble indicates an industry growing and playing a greater role in the US economy.
How do industries expanding or contracting affect Americans employed in those sectors? In this chart, bubble position is determined by two factors: median wages (vertical axis) and jobs (horizontal axis). A bubble moving up and to the right indicates more jobs and higher wages, and trailing shadows indicate its position the previous two years.
The impact of the Great Recession is plainly visible in the manufacturing sector, with the loss of more than two million manufacturing jobs between 2008 and 2010. Recent healthcare job growth is also visible, as is the minimal growth in median wages across sectors.