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economy

Manufacturing Jobs Increase for Fourth Straight Month

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Timmons: March Jobs Numbers Continue Encouraging Trend

Washington, D.C., April 7, 2017 – National Association of Manufacturers (NAM) President and CEO Jay Timmons issued the following statement on the release of the March jobs numbers by the Bureau of Labor Statistics today:

“As manufacturing leaders discussed with President Donald Trump at the White House last week, manufacturers’ economic optimism is at a record 20-year high. Today’s numbers continue the four-month trend of increasing job growth, which manufacturers have not seen in some time.

“President Trump’s actions have certainly boosted manufacturers’ confidence in the future, and that positive change is coming. The president is rethinking red tape and addressing our regulatory burden, helping us to create American jobs and grow our economy. But we are still far from reaching our full potential. An outdated tax code, crumbling infrastructure and excessive regulations make it unnecessarily difficult to compete and win against overseas competitors.

“Manufacturers expect to see action on bold solutions for regulatory reform, infrastructure investment and tax reform, among other issues. We have shared our proposed path forward with the president and Congress and look forward to continuing to work with them to ensure manufacturing’s best days are still ahead.”

Read more about the NAM’s visit with President Trump last week here.

Media Contact: Jennifer Drogus, (202) 637-3090

Experts Say Energy Innovation Strengthens Manufacturing

By | Economy, Energy, Infrastructure, Shopfloor Economics, Shopfloor Policy | No Comments

A recent study released by the London School of Economics and Political Science (LSE) examined how new technology has impacted the surge of natural gas production in the United States and made U.S. manufacturing more competitive in the global marketplace. It’s great news that abundant energy resources are energizing American manufacturing. But if we don’t modernize our energy infrastructure to fully connect these resources to manufacturers, we will fall short of our full economic potential.

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Timmons: Isolationist Rhetoric Won’t Create More Manufacturing Jobs, but the Right Policies Will

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National Association of Manufacturers President and CEO Jay Timmons issued the following statement on the Bureau of Labor Statistics’ July jobs numbers:  

“While numbers continue to improve, the fact is that our economy remains nowhere near its full potential. To grow jobs in America, manufacturers need their products sold to more markets. Isolationist rhetoric will not help grow manufacturing jobs in the United States, but the right policies will. Manufacturers have outlined an agenda that will help put our sector—and ultimately the entire U.S. economy—on a path toward continued growth and good-paying jobs, which includes market-opening free trade agreements like the Trans-Pacific Partnership (TPP). 

“Whether it’s because of misguided analysis or political expediency, both major party candidates in this presidential election continue to do manufacturing a disservice by perpetuating myths about free trade. It’s time to stop undermining the ability of manufacturers in the United States to compete and win through trade and embrace policies like TPP that are going to put our nation back in the driver’s seat and ensure success for our economy.”

From Westminster Abbey to Your Shopfloor—An Explanation of “Brexit”

By | Shopfloor Policy, Trade | No Comments

Yesterday’s vote by 52 percent of the United Kingdom to exit from the European Union—the so-called British exit (Brexit)—has sent shockwaves across global financial markets and plunged manufacturers on both sides of the Atlantic into a long period of uncertainty. While there are no direct immediate consequences for the day-to-day operations of businesses in the United Kingdom, European Union or the United States, all businesses engaged in the transatlantic market need to start preparing for the changes that will in fact come. Read More

March Employment: Stabilized Demand, Production Does Not Translate Into #MFGJobs—Yet

By | Shopfloor Economics, Shopfloor Main | No Comments

It is clear hiring remains weak for manufacturers as they grapple with global headwinds and lingering anxieties about the overall economic outlook.  Employment in our sector declined by 29,000 in March. That said, we have begun to see some signs of stabilization for demand and production in other manufacturing data—but that has not translated into jobs just yet, according to today’s release. Meanwhile, nonfarm payrolls continued to make slow-but-steady gains, with growth near consensus estimates.

For the Federal Reserve, this report does not change much, as short-term rates were not likely to be increased at the upcoming meeting in April anyway. Instead, the Federal Open Market Committee will be looking for broader-based improvements in the U.S. economy as it prepares for its June meeting, and for manufacturers, we would hope that such data would include progress in the industrial sector. Manufacturers have been nervous about the Federal Open Market Committee raising rates too quickly, as they reported in the most recent NAM Manufacturers’ Outlook Survey.

Sluggish hiring for manufacturers should also force our political leaders to consider pro-growth policies to improve overall economic conditions and to allow our businesses to better compete in the global marketplace. The NAM has outlined its pro-manufacturing policy agenda in its “Competing to Win” document, which was released earlier this year.

SOM Tour 2016: New Hampshire Is a Hotbed of Innovative Manufacturing

By | General, Policy Experts, Presidents Blog, Shopfloor Economics, Shopfloor Main, Shopfloor Policy | No Comments

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A State of Manufacturing Tour guest blog post by Jim Roche, president of the Business & Industry Association, New Hampshire’s statewide Chamber of Commerce 

Today, the National Association of Manufacturers (NAM) kicked off its 2016 State of Manufacturing Tour in New Hampshire—and with good reason! New Hampshire is a hotbed of innovative manufacturing and home to the first-in-the-nation presidential primary less than two weeks from now.

Here at the Business & Industry Association (BIA) of New Hampshire, the NAM’s official affiliate in the Granite State, we fight every day for policies that support our manufacturers—our state’s most important job creators. We push state legislators, the governor, our congressional delegation and regulators for public policy and commonsense solutions that are friendly to job creators and promote prosperity for New Hampshire businesses.

At today’s stop, the NAM laid out several key public policies that will help put manufacturing in America on solid ground, including important ideas likjim rochee fixing our outdated tax code and upgrading old infrastructure to take us toward a more modern economy.

Today’s tour also highlighted the many ways manufacturers are changing our lives for the better. Manufacturing has grown well beyond the outdated images of mill and textile work, particularly in New England. Today, manufacturing leads in electronics, fabricated metals, machinery and technology. And manufacturing is connecting people across continents. The sector offers outstanding jobs and careers for nearly 68,000 New Hampshire workers. New Hampshire’s manufacturers export almost $4 billion of goods around the world every year, bringing new wealth and economic activity into our state’s economy.

As we move deeper into this important election season, manufacturing voters are asking candidates hard questions about how they will help America compete to win in a global economy. No matter the outcome of the election, we need policies that support today’s diverse and dynamic manufacturers. When manufacturing succeeds, we’re all better off.

 

Manufacturing Production Declined in December

By | Economy, Shopfloor Economics | No Comments

Manufacturing production fell 0.1 percent in December, ending the year on a soft note. Output grew just 0.8 percent in 2015, highlighting the challenges faced in the sector by the global slowdown and reduced commodity prices. Manufacturers anticipate a continuation of many of these headwinds in 2016 as global growth remains quite volatile.

As manufacturers continue to confront headwinds in the economy, there are policy measures Washington can take to help get the economy–and manufacturers–growing faster and producing more.  Among those policy measures are comprehensive tax reform, robust regulatory reform and the ability to trade with new markets.

Growing Manufacturers’ Opportunities in the Asia Pacific: U.S. Push for Ambition and Market Access in TPP Must Continue

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With President Obama’s Asia visit kicking off in Japan today, manufacturers are hopeful that the President and Japanese Prime Minister Shinzo Abe will make meaningful progress towards achieving ambitious and market-opening outcomes in the Trans-Pacific Partnership (TPP) negotiations, and that work will continue during the President’s visit to Malaysia to meet Prime Minister Najib Razak later this week. Manufacturers have long supported the negotiation of the TPP that TPP Leaders described in November 2011 that “will be a model for ambition for other free trade agreements in the future, forging close linkages among our economies, enhancing our competitiveness, benefitting our consumers and supporting the creation and retention of jobs, higher living standards, and the reduction of poverty in our countries.” Already, comprehensive, high-standard U.S. free trade agreements help propel nearly 50 percent of manufacturing goods exports around the world.  A TPP done right will boost the United States’ already record manufacturing exports, as well as other sales and other commercial opportunities, by linking America’s highly productive manufacturers to new consumers around the world.

As recognized by each of the TPP countries then and as manufacturers have long advocated, such an agreement must:

  • provide comprehensive market access that concretely levels the playing field;
  • ensure high standards on issues such as intellectual property, transparency and investment;
  • address new trade challenges such as cross-border data flows and longstanding issues such as competition from state-supported enterprises; and
  • incorporate strong enforcement mechanisms so that the agreement is more than words on a piece of paper.

When Japan joined the TPP talks in 2013, it committed to negotiate on the same ambitious basis that the existing TPP negotiating countries had already agreed. U.S. Trade Representative Ambassador Mike Froman said today in Japan, the talks are at a “crossroads” and now is the time for Japan “to choose a bold path.”  Manufacturers agree.  Similarly bold choices must also continue in the capitals of all TPP partners to achieve an ambitious and fully market-opening outcome. Manufacturers urge Japan, Malaysia and all other TPP countries to continue to focus on that ambition this week and in the weeks to come so that the momentum of the TPP talks can be regained and that the TPP  countries’ commitment to an “ambitious, high standard and comprehensive”  agreement that was renewed in December 2013 can be achieved.

A successful TPP agreement that truly opens markets and improves the competitiveness of manufacturers in the United States represents an unprecedented opportunity to boost commercial ties throughout the Pacific Rim and beyond. The NAM continues to urge the immediate and comprehensive elimination of tariffs and non-tariff barriers, strong protections consistent with U.S. practice on intellectual property and investment for all products, new provisions to permit the movement of data cross border and new disciplines to ensure fair commercial competition with state-owned enterprises. These provisions all must be backed up by state-of-the-art enforcement provisions from state-to-state to investor-state mechanisms. Ultimately a successful, growth-producing TPP agreement will be one that ensure that manufacturers in the United States will be put on a fair and competitive footing in each of the TPP markets.

President Obama, Prime Minister Abe and Prime Minister Najib Razak have a critical opportunity this week to inject new vitality into the TPP talks. Manufacturers hope they will seize this occasion to move the negotiations closer to a pro-growth and pro-competitive conclusion.