Edward Flores's Avatar
published in Blogs
Mar 08, 2021
Welcome to the 21st Century Economy

Welcome to the 21st Century Economy

The iconic American company, General Electric, cut its workforce by 78,000 in 2019, bringing its total number of employees back to levels not seen since 1951.

As General Electric slashed jobs and made efforts to cut costs, companies within the services sector went on a hiring spree – the healthcare sector added 361,000 jobs over the last 12 months, transportation and warehousing added 106,000, leisure and hospitality added 288,000 jobs, and professional and business services added 390,000.

This anecdote for the 21st Century economy is a display of the continued rotation of the economy from a manufacturing/industrial economy to a services and consumption based economy. In my view, investors should be posturing over time for this evolution to continue apace, with no looking back.

Related Tickers: GE
Related Portfolios: TECHNOLOGY ETFs