{"id":15,"date":"2010-04-20T13:38:54","date_gmt":"2010-04-20T20:38:54","guid":{"rendered":"http:\/\/savingusmanufacturing.com\/blog\/?p=15"},"modified":"2010-04-20T13:40:16","modified_gmt":"2010-04-20T20:40:16","slug":"%e2%80%9cwhy-hasn%e2%80%99t-manufacturing-upturn-led-to-gain-in-jobs%e2%80%9d","status":"publish","type":"post","link":"https:\/\/savingusmanufacturing.com\/blog\/general\/%e2%80%9cwhy-hasn%e2%80%99t-manufacturing-upturn-led-to-gain-in-jobs%e2%80%9d\/","title":{"rendered":"\u201cWhy Hasn\u2019t Manufacturing Upturn Led to Gain in Jobs\u201d"},"content":{"rendered":"

According to the Institute for Supply Management<\/a> March \u201cReport on Business, the PMI was 59.6%, an increase of 3.1% over February\u2019s 56.5%.\u00a0\u00a0\u00a0 Norbert J. ORWE, CPSM, chair of the Manufacturing Business Survey Committee said, \u201cThe manufacturing sector of the economy grew for the eighth consecutive month during March.\u00a0 The rate of growth as indicated by the PMI is the fastest since July 2004 \u2026The Inventories Index provided a surprise as it indicated growth for the first time following 46 months of liquidation \u2013 perhaps signaling manufacturers\u2019 willingness to increase inventories based on expected levels of activity.\u201d\u00a0 This wasn\u2019t just an upturn in a few industries \u2013 17 of the 18 manufacturing industries reported growth in the PMI in March.<\/p>\n

The PMI is the Purchasing Management Index, based on data compiled from purchasing and supply executives nationwide.\u00a0 A PMI reading above 50% indicates that the manufacturing economy is expanding and below 50% indicates that it is declining.\u00a0 At the very worst of the recession, it was 32.5% in December of 2008.<\/p>\n

While it\u2019s good news for our economy that manufacturing has grown for eight months in a row, why has the national unemployment rate held at 9.7% for the third month in a row in March, after peaking at 10.1% in October 2009?<\/p>\n

It\u2019s the loss of manufacturing jobs that is keeping unemployment so high.\u00a0 Too many manufacturers are sourcing all or most of their manufacturing offshore.\u00a0 An upturn in their business doesn\u2019t mean more manufacturing jobs for Americans if they aren\u2019t producing or buying everything for their products in the United States.\u00a0 Since 2001, we\u2019ve lost 63% of the U. S. textile industry and 74% of the U. S. printed circuit board industry.\u00a0 We lost 47% of communication equipment jobs and 43% of motor vehicle and parts industry jobs.<\/p>\n

In addition, manufacturers are doing more with less; existing employees are required to work harder and longer because manufacturers aren\u2019t hiring new people until they have more confidence that the upturn in business will continue.\u00a0 Manufacturers aren\u2019t building up inventory to fill orders \u2013 they are ordering materials, components, parts, and assemblies as needed to fill orders they receive from their customers.<\/p>\n

The number of manufacturing jobs is a better indicator of what\u2019s really happening in the economy than the stock market.\u00a0 Many of the companies on the Dow and Standard & Poor index of the stock exchange are no longer American-owned companies.\u00a0 They are companies that I call multinational globalist companies, which have no loyalty to the United States and don\u2019t care about providing jobs for Americans.\u00a0 These companies may be doing well based on their worldwide business and could post profits and have their stock prices go up without creating jobs for American workers and benefiting the U. S. economy as a whole.<\/p>\n

We need to establish a national manufacturing policy to be able to maintain a strong manufacturing industrial base as the foundation of our economy and create the jobs our country needs.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to the Institute for Supply Management March \u201cReport on Business, the PMI was 59.6%, an increase of 3.1% over February\u2019s 56.5%.\u00a0\u00a0\u00a0 Norbert J. ORWE, CPSM, chair of the Manufacturing Business Survey Committee said, \u201cThe manufacturing sector of the economy grew for the eighth consecutive month during March.\u00a0 The rate of growth as indicated by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts\/15","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":3,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":18,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions\/18"}],"wp:attachment":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}