U.S. Jobless Numbers Hint Of Recovery, Even In Manufacturing

Jan. 13, 2005
By John S. McClenahen CEOs and other senior executives of manufacturing companies would like to have more visibility right now. Not the kind that feeds egos, but the financial kind, some solid signs that a nine-month business recession is ending and ...
ByJohn S. McClenahen CEOs and other senior executives of manufacturing companies would like to have more visibility right now. Not the kind that feeds egos, but the financial kind, some solid signs that a nine-month business recession is ending and recovery is underway. And although economists -- including some manufacturing economists -- continue to talk about recovery from recession starting this month or next, their words seem to be more wishful thinking than data-supported forecasts. Except for this: July's unemployment data, released Aug. 3 by the U.S. Labor Dept., hint just a bit of better times. Although U.S. factories shed another 49,000 people last month, the figure was far less than the nearly 100,000 manufacturing jobs lost on average in each of the first six months of this year. What's more, automakers, chemical producers, and apparel makers actually added jobs during July. To be sure, one month's statistics do not a trend make. And the reality is that manufacturing's high-tech sector continues to hurt. Electrical-equipment and industrial-machinery manufacturers, the companies that make such high-tech products as computers and telecommunications equipment, laid-off another 45,000 workers in July.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Achieving Maximum Value in Industry 4.0 with Intelligent Asset Management

June 27, 2022
Achieving Maximum Value in Industry 4.0 with Intelligent Asset Management.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!