U.S. Factories Buck Decline

[ProSense]

U.S. Factories Buck Decline

Sector Creating More Jobs Than It's Cutting; 'Shining Star'

By JAMES R. HAGERTY

U.S. manufacturing, viewed as a lost cause by many Americans, has begun creating more jobs than it eliminates for the first time in more than a decade.

As the economy recovered and big companies began upgrading old factories or building new ones, the number of manufacturing jobs in the U.S. last year grew 1.2%, or 136,000, the first increase since 1997, government data show. That total will grow again this year, according to economists at IHS Global Insight and Moody's Analytics.

Among others, major auto makers—both domestic and transplants—are hiring. Ford Motor Co. announced last week it planned to add 7,000 workers over the next two years.

The economists' projections for this year—calling for a gain of about 2.5%, or 330,000 manufacturing jobs—won't come close to making up for the nearly six million lost since 1997. But manufacturing should be at least a modest contributor to total U.S. employment in the next couple of years, these economists say.

more

The first increase in 13 years, no biggie.

[DCKit]

1. Only because they were anticipating the (R) "takeover" of Congress.

Not to mention the complete stabilization of our economy by that (R) majority Congress.
:sarcasm:

[leveymg]

2. Weak dollar and domestic demand, cost-cutting, lower margins do lead to export increases.

Not necessarily a sign of a healthy economy.

[ProSense]

3. Maybe so, but

that doesn't explain the period between 1997 and 2007.

[leveymg]

5. Deindustrialization and corporate globalization does.

Here's one major contributor:

[ProSense]

6. Are you saying that

a Walmart in China is leading to an increase in manufacturing jobs in the U.S., reversing a thirteen year trend?

[leveymg]

7. No, I do say the 13 year trend can be attributed to US corporations like Walmart and Chinese imports

But, that shouldn't be news to anyone.

[Pirate Smile]

4. Great. People don't seem to know it but the U.S. is still the largest manufacturer in the world.

U.S. Remains Largest Manufacturer in the World



According to the Federal Reserve, the value of U.S. manufacturing output in 2008 was $2.946 trillion, measured in 2000 dollars. Converted to 2008 dollars (link), that would be about $3.7 trillion, and the chart above shows how the U.S. manufacturing sector compares to the entire output, or GDP, of the top five largest economies in the world in 2008 (data): Japan ($4.9 trillion), China ($4.3T), Germany ($3.7T), U.K. ($2.7T) and Italy ($2.3T).

Bottom Line: If the U.S. manufacturing sector were a separate country, it would be tied with Germany as the world's third largest economy. It would also be larger than the entire economies of India and Russia combined. As much as we hear about the "demise of U.S. manufacturing," and how we are a country that "doesn't produce anything anymore," and how we have "outsourced our production to China," the U.S. manufacturing sector is alive and well, and the U.S. is still the largest manufacturer in the world.


http://seekingalpha.com/article/179165-u-s-remains-largest-manufacturer-in-the-world

[old mark]

8. K&R-It's a start...nt