NAM says recovery remains delicate
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 30 Aug 2002 21:15
The National Association of Manufacturer’s latest annual Labor Day report indicated that a recovery for the manufacturing sector remains in the fragile stages. Despite a lull in economic activity in July and August, manufacturing orders for September and October are slowly picking up, indicating that the economic recovery remains on schedule.
“The economic picture we see on this Labor Day is a decidedly mixed bag for workers, businesses, and the economy as a whole,” said Jerry Jasinowski, president of the NAM. “Manufacturing employees, the most technologically sophisticated and best paid of America’s workers, have suffered the brunt of the recent recession, accounting for 71% of the 1.3 million non-farm jobs that were lost.”
“The good news is that the negative factors driving the economy into recession have worked their way through the system,” Jasinowski said. “Interest rates are at a historic low, energy costs have come down from previous highs, excess inventories have been worked off, and the dollar appears to be moving toward market equilibrium with other currencies. Also, the fundamentals of strong consumer economic activity are in place with both productivity and incomes rising. Thus, we believe a gradual upturn in manufacturing employment will emerge next year.”
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...