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Stephen Heffler
Economist, formerly employed in the Office of
Employment and Unemployment Statistics, Bureau of Labor
Statistics
Since 1964, employment in drugs manufacturing has grown through recessions and structural changes to the economy, while the industry has continued to make profits, invest in research and development, and pay above-average wages. This article presents a brief history of the drugs manufacturing industry from 1964, when its rapid growth began, to 1994, and offers details behind the industry's growth since 1980. Changing conditions within the industry and possible future impacts on employment are examined.
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