The National Association of Manufacturers today released its 2009 Labor Day Report, “The Turning Tide – Prospects for a Manufacturing Recovery.”
From the news release:
The report looks at the economic decline in 2008-2009, the signs of stabilization emerging, and the outlook for employment, manufacturing and the economy. It projects an upturn in manufacturing production gradually over the next year with more significant growth in the 2011-2014 period. The report also projects that by 2014, the manufacturing sector will regain more than 40 percent of the jobs lost during the current downturn.
While there are indications that we may be in the early stages of recovery, the report indicates there is significant reason for caution. According to the report, a recovery would be negatively impacted if Congress and the Administration enact policies that discourage investment, hamper flexibility, or raise the costs of doing business in the United States. The report notes that prospects for good jobs, a strong manufacturing sector and a growing economy depend on U.S. global competitiveness.
The full report, written by NAM Chief Economist David Huether, is available here.
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