Clean water in Mexico, new solar energy production in the Czech Republic, food production in Zimbabwe, and energy production in South America. All these are examples of how private entrepreneurial investment from one country to another has the capacity to improve peoples’ lives. (continue reading…)
The Economic Development and Jobs Growth Tool the Anti-Trade Lobby Loves to Hate; Why ISDS Deserves More than a Little Respect
It is all over the news, the new proposed ozone regulation from the Obama Administration and it will be the most expensive regulation of all time with a price tag of over $1.7 million from 2017-2024.
A study by NERA Economic Consulting and commissioned by the National Association of Manufacturers examined the economic impacts of a 65 ppb national ambient air quality standard for ozone and revealed that a new ozone regulation could cost the economy $140 billion per year and place over one million jobs at risk. (continue reading…)
The University of Michigan and Thomson Reuters said that consumer confidence unexpectedly slipped for the second straight month. The Consumer Sentiment Index has dropped from 98.1 in January to a revised 95.4 in February to 91.2 in March, according to preliminary data. The January figure had been the highest level in 11 years. Americans continue to be more positive today than one year ago, with the index measuring 80.0 in March 2014, and as such, the longer-term trend remains positive.
However, these data also suggest that the public remains anxious, mirroring the caution seen in recent retail sales data. The University of Michigan survey indicates some easing in both current and expected measures over the past two months. Final data will be released on March 27.
Chad Moutray is the chief economist, National Association of Manufacturers.
NAM President and CEO Jay Timmons joined leading manufacturers in Pittsburgh today for a panel discussion on the importance and success of manufacturing to the U.S. economy and jobs, and what manufacturers, lawmakers, and all Americans can do to ensure its future prosperity. (continue reading…)
Strong Intellectual Property Protections in the TPP Have Everything to Do with Good-Paying American Jobs
Ideas, brands and inventions are the competitive advantage of the more than 265,000 manufacturers large and small across the United States and the more than 12 million women and men they employ in today’s challenging global marketplace.
Protecting those assets at home and abroad is critical for every sector of manufacturing – and particularly for the biopharmaceutical industry, which contributes some $426 billion to the U.S. economy every year and delivers life-saving and life-changing new therapies for patients suffering from cancer, diabetes and other diseases and disorders. (continue reading…)
The NAM applauds Senator Tom Udall (D-NM), David Vitter (R-LA) and the group of 15 other bipartisan Senators for accomplishing what is a far-too-rare feat in Washington: lawmakers working together to find compromises and put forth legislation to improve our nation’s laws. The Toxic Substance Control Act of 1976 (TSCA), is the nation’s most outdated environmental statute and for years lawmakers and stakeholders from all sides have recognized the need for reform. However, it was not until Senators Vitter and the late-Senator Frank Lautenberg (D-NJ) came together in early 2013, that there was any real hope that comprehensive reform was possible. Today, with strong bipartisan support, a big and important step towards reform was taken as the Frank R. Lautenberg Chemical Safety for the 21st Century Act was introduced. (continue reading…)
Twelve cities. Three weeks. One message.
“Today, the state of manufacturing is as resilient and robust as ever—and that’s why, once again, America is rising.”
To unveil the nation’s latest manufacturing innovation hub in Clinton, Tennessee, President Obama and Vice President Biden selected a manufacturer as renowned for its products as it is for the cutting-edge technology that powers its shop floor. Techmer PM, a longtime member of the NAM, provided not only a setting for President Obama’s speech but also a first-hand view of manufacturing in the United States.
“At the end of the speech, the president closed his prepared notes, and he spoke extemporaneously and mentioned me by name,” Techmer PM President and CEO John Manuck tells Shopfloor. “When I toured him and the vice president around, he asked me about how I had started the company. He went on to quote that I had graduated as an engineer out of college, went to work for a large company and then just decided I could do it better myself. And then he said, ‘And that story of entrepreneurship and taking a chance, that’s what built this country.’”
Such drive and innovation distinguish manufacturing from other sectors—and sets manufacturers like Techmer PM apart. Techmer PM collaborates with Oak Ridge National Laboratory, the Department of Energy facility that recommended the company to the Obama Administration, on projects such as full-sized, 3-D printed cars.
These types of projects would not be possible without Manuck’s vision of what manufacturing could be with a motivated workforce and continuous investment. Manuck founded Techmer PM with just six employees and one small manufacturing facility in 1981. Thanks in large part to his commitment to building a workplace where employees feel challenged, secure and proud of being a member of the team, the company has since grown to more than 600 employees at seven facilities across the country.
Even greater potential exists for manufacturing if Washington supports the right policies, as outlined by NAM President and CEO Jay Timmons during this year’s State of Manufacturing Tour. Manuck pointed toward comprehensive tax reform that includes Techmer PM and the nearly two-thirds of manufacturers organized as subchapter S corporations that pay taxes at the individual rate and policies that support and expand global trade, such as Trade Promotion Authority and new trade agreements to reach the 95 percent of consumers who live outside our borders. Manufacturers also need policymakers to take a hard look at the more than $2 trillion in complex, inconsistent and duplicative federal regulations that hinder manufacturers in the United States.
Manuck hopes that by observing manufacturing in action, President Obama will take note of the policies that strengthen our more than $2 trillion sector—the policies that the NAM advocates each and every day. “We need to keep pushing these issues,” Manuck says.
Here is the summary for this week’s Monday Economic Report:
According to the latest NAM/IndustryWeek Survey of Manufacturers, which will be released this morning, business leaders remain mostly confident about activity over the coming months. In fact, 88.5 percent of respondents said they were either somewhat or very positive about the own company’s outlook, and the data are consistent with 3 percent growth in manufacturing production over the next two quarters. Yet, manufacturers who replied to this survey were slightly less upbeat than they were three months ago, when 91.2 percent of respondents were positive in their outlook. Sales, exports and hiring expectations over the next 12 months also decelerated slightly, even as they remain improved from the paces seen a year ago. (continue reading…)
The Bureau of Labor Statistics said that manufacturers added 8,000 net new workers in February. This was slower than the pace seen in the past four months (October to January), which averaged 27,000 per month. Yet, it was with consistent softer demand and production data, with weaknesses in export markets, strength in the U.S. dollar, the West Coast ports slowdown and reduced energy prices dampening activity as we begin the new year. On the positive side, manufacturers have now added to their workforce for 19 straight months, with 877,000 additional employees in the sector since March 2010, its lowest point after the recession. (continue reading…)