For first time in decade, U.S. adds manufacturing jobs
U.S. manufacturing, viewed as a lost cause by many Americans, has begun creating more jobs than it eliminates for the first time in more than a decade.
As the economy recovered and big companies began upgrading old factories or building new ones, the number of manufacturing jobs in the U.S. last year grew 1.2%, or 136,000, the first increase since 1997, government data show. That total will grow again this year, according to economists at IHS Global Insight and Moody’s Analytics…
Among others, major auto makers—both domestic and transplants—are hiring. Ford Motor Co. announced last week it planned to add 7,000 workers over the next two years.
The economists’ projections for this year—calling for a gain of about 2.5%, or 330,000 manufacturing jobs—won’t come close to making up for the nearly six million lost since 1997. But manufacturing should be at least a modest contributor to total U.S. employment in the next couple of years, these economists say.
On a related note, President Obama is meeting today with Chinese President Hu Jintao. Trade issues are certain to be on the agenda. President Hu Jintao. As the Washington Post notes, the Obama administration, including Secretary of State Hillary Clinton and Treasury Secretary Tim Geithner, is taking a noticeably tougher line toward China.
“It was also apparent in speeches by Clinton and Geithner, both of whom were blunt to the point of pugnacity. Near the end of his speech, Geithner put China on notice that if it wanted progress on its demands for a better investment climate in the United States and more access to U.S. technology, it had better bend to U.S. demands that China allow the value of its currency to rise and open its markets to U.S. firms. In the past, U.S. officials had avoided such threats. “
Given China’s behavior in the global marketplace, that tougher line is absolutely necessary. For far too long, the Chinese have ignored international rules and bullied competitors, including American companies, into meek acceptance of their tactics as the price of entry into China’s markets. Longterm, that’s a losing strategy.
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334 comments Add your comment
Bosch
January 19th, 2011
10:48 am
Although labor costs would be lower in Mexico, Whirlpool found lots of reasons to stay in the Cleveland area. It already had a trained work force there and wouldn’t need to pay severance costs. Freight costs would be lower since most of the plant’s products are sold in the U.S. Tennessee also looked safer than Mexico, which has been beset with drug-related violence. And state and local governments were willing to kick in about $30 million of incentives—including grants and property tax breaks—if Whirlpool stayed in the area
I like it when we all work together for the greater good.
Bosch
January 19th, 2011
10:49 am
Ooooooo…firsties.
The Mandarins
January 19th, 2011
10:49 am
We are always looking out for American interests. I do not understand this conflict nonsense. What is good for us will be good for you. We make money and loan it to you. What’s the problem?
Bosch
January 19th, 2011
10:50 am
,i>For far too long, the Chinese have ignored international rules and bullied competitors, including American companies, into meek acceptance of their tactics as the price of entry into China’s markets. Longterm, that’s a losing strategy.
Their Commies, what’d ya’ expect?
Bosch
January 19th, 2011
10:50 am
Dang, messed up that slanties thing….
Paul
January 19th, 2011
10:50 am
“For far too long, the Chinese have ignored international rules and bullied competitors, including American companies, into meek acceptance of their tactics as the price of entry into China’s markets. Longterm, that’s a losing strategy. ”
And Congressional Republicans and radio hosts will portray this how?
——————
BOSCH!
Where ya’ been? Been getting concerned, thought you got lost or something.
Didja’ catch V last night? Don’t want to give anything away, but… WOW!
Paul
January 19th, 2011
10:51 am
Bosch
“Dang, messed up that slanties thing….”
You wrote THAT while speaking of Chinese commies?!!?
LOLOLOL!
The Mandarins
January 19th, 2011
10:56 am
Commies don’t make money. We like to make money. Ergo, we are not communist.
Jimmy62
January 19th, 2011
10:59 am
Go Ford, doing it the right way, without government bailouts! That’s a real American company!
Now if we would stop rewarding failures like GM and Chrysler and their unions, then productive non-failures like Ford could expand even more.
Lots of people are lauding GM’s comeback, but not mentioning that comeback is because the government gave them billions of dollars as a reward for failure, and that much of their manufacturing has moved to China. In effect, our government paid GM to move a lot of their operations (and thus jobs!) to China.
All’s I can say to that is go FORD! I have no qualms about wishing for the end of GM and Chrysler, who have been albatrosses around America’s neck for decades. The longer they stay afloat, the more money will flow from US taxpayers to China. And our wonderful federal government actually set this up. Fools.
larry
January 19th, 2011
10:59 am
It is past time this country got tough on China about its currency issues. American Manufacturers have been complaining about this for a better part of a decade. Not only should Geithner and Clinton take a tougher line, Obama himself should take a tougher line.
On a side note, did anyone see Rob Woodall on Hardball last night……… he couldnt give anyone a straight answer. Typical Georgia Repbulican.
The Mandarins
January 19th, 2011
11:00 am
“bullied competitors, including American companies, into meek acceptance of their tactics as the price of entry into China’s markets. Longterm, that’s a losing strategy.”
How so? This is good for everyone. We get your technology. We keep your firms temporarily at bay until we can compete better, then we can drive down the price of all these goods with more competition and cheaper labor.
Jimmy62
January 19th, 2011
11:01 am
At the same time, I got no problem with China’s actions. Our government is massively diluting the dollar, and then telling China they have to accept a reduced dollar and to just deal with. That’s grossly unfair of our government, especially since it’s their irresponsible handling of our currency that is causing China’s actions.
The Mandarins
January 19th, 2011
11:03 am
You guys better be nice to Mr. Jintao. Do. Not. Forget. We have a cool $1 Trillion of your, so called, Treasuries.
Bosch
January 19th, 2011
11:03 am
Hi Paul! I was lost, but now I’m found, twas blind, but for some reason I can see now.
Good thing, huh?
NO, I haven’t seen V
— I’m always doing something it seems at that time. Sigh.
The Mandarins
January 19th, 2011
11:04 am
Thank you Jimmy62 11:01 – you are exactly right. Your money printing will force us to keep our currency fixed for longer. You should stop printing money.
Del
January 19th, 2011
11:04 am
Too little too late…Obama and his administration have been weak with China and the Chinese view Obama as a weak American president. This bluster by Geithner certainly will do nothing to change their perspective. Gates was recently humiliated in China and they were sending a message.
Bruno
January 19th, 2011
11:05 am
About time we started a new opium war.
The Mandarins
January 19th, 2011
11:05 am
More damn nonsense about us. Ridiculous. All this fear mongering about China is not good. We must all get along. You must behave better.
http://www1.realclearmarkets.com/articles/2011/01/19/how_to_combat_an_arrogant_china_98833.html
ByteMe
January 19th, 2011
11:06 am
Manufacturing is up for the same reason that gold prices and oil prices are up. We’ve devalued our currency enough relative to other currencies that our exports are now cheaper than the alternatives, which in turn improves our manufacturing base. Makes imports — like oil and gold and other raw materials — more expensive, but you wanted to “buy American”, right?
Paul
January 19th, 2011
11:06 am
Del
“Too little too late”
Is that an acknowledgment it’s still better than the previous administration’s policies?
Bruno
January 19th, 2011
11:06 am
Mandarin–I’ll have the moo goo gai pan with hot and sour soup.
The Mandarins
January 19th, 2011
11:08 am
Blah blah blah
http://www.usatoday.com/news/opinion/editorials/2011-01-19-editorial19_ST_N.htm?loc=interstitialskip
Del
January 19th, 2011
11:08 am
Paul, Nope
Bruno
January 19th, 2011
11:09 am
I was at the bank yesterday when an old Chinese woman was trying to convert yen to dollars. Apparently the exchange rate had changed and she was very unhappy about it. She kept questioning the clerk why it changed and he replied “Fluctuations”. She got really mad and said to the clerk “Well, fluc you white people too!”
The Mandarins
January 19th, 2011
11:10 am
Now here’s some intelligent commentary. The US should fix its own exchange rate. More currency controls are good. Thank you Mr. Tamny.
http://www1.realclearmarkets.com/articles/2011/01/19/china_should_call_washingtons_obtuse_currency_bluff_98832.html#
Bosch
January 19th, 2011
11:10 am
Manufacturing is up for the same reason that gold prices and oil prices are up. We’ve devalued our currency enough relative to other currencies that our exports are now cheaper than the alternatives, which in turn improves our manufacturing base. Makes imports — like oil and gold and other raw materials — more expensive, but you wanted to “buy American”, right?
I wish that I knew stuff enough to write stuff like that.
The Mandarins
January 19th, 2011
11:11 am
Bruno – we love to sell you things. Not to upsell too much, but we have some great roasted duck as well. Any interest? Please provide your gold bank reserve account number for payment. Thanks.
Bosch
January 19th, 2011
11:14 am
I think Australia is sinking — or doing whatever Guam is doing.
The Mandarins
January 19th, 2011
11:14 am
Bruno 11:09 – what is a Chinese woman doing using Yen. Ridiculous! Does she have no knowledge of the Sino-Japanese wars?!! Ahhhhhhh. Thank heavens she was at least trying to get rid of her Yen, correcting her ways.
Paul
January 19th, 2011
11:15 am
Del
Nope?
But if the current administration hadn’t done anything than the previous administration, and now they’re taking different actions you dismiss as ‘too little, too late’
does that not mean that even if too little, it is still more than what the previous administration did?
Paul
January 19th, 2011
11:16 am
Del
Make that “But if the current administration hadn’t done anything DIFFERENTLY than the previous administration…”
Paul
January 19th, 2011
11:17 am
Bosch
Australia is sinking.
Guam is tipping over.
Mr. Manners
January 19th, 2011
11:19 am
When meeting our friends from China for business meetings, it is very important not to offend. Smile and speak only when spoken to. To introduce yourself, offer your business card in both hands with your head slightly bowed and wait for the visiting Chinese person to accept your card. Never hold out your hand in anticipation of receiving a card. Remember that these people have very good memories and when they become your boss, you do not want any of them to have any negative memories unless you can afford significant cosmetic surgery.
The Mandarins
January 19th, 2011
11:19 am
Paul 11:17 – because we took all the coal underneath them.
ByteMe
January 19th, 2011
11:20 am
Bosch: Thank you. I could also have written that increasing our imports is required if we plan to deleverage the public/private debt AND increase our personal savings rate at the same time (which we claim to want to do). But that one’s a harder sell unless you’ve seen the math behind it.
I’ve been reading on this stuff for 5+ years and still only grasp about half of what I need to know.
Redneck Convert (R--and proud of it)
January 19th, 2011
11:21 am
Well, I can tell you that beer is selling like gangbusters and all the plants are running 3 shifts. People got no money for anything else, but they always got money for beer. That’s the kind of manufacturing we need. I don’t care much about the auto plants except for Ford. They got to keep turning out those big F-450s. Mine has some miles on it and it will soon be time to trade it in for another one. It’s a strange thing about GA. The smaller the house the bigger the pickup. You won’t hardly find somebody that lives in a trailer driving anything but a big pickup. But by the time you get to the people that live in the big mansions, you’re looking at little weenie cars.
Like other Conservatives on this blog I know how to deal with China. About a dozen blockbuster A-bombs would take care of the whole bunch. We’ve about run out of the war in Iraq, and Afghanistan is winding down, so long as we got the army and marines built up now’s as good a time as any. I say let her rip. It’s just a matter of time till they’re built up to attack us, so . . . It’s the Patriotic thing to do. After that we can say we ain’t paying on all those treasury bonds we sold them. We’ll be debt-free!
Have a good lunch everybody.
md
January 19th, 2011
11:22 am
“Given China’s behavior in the global marketplace, that tougher line is absolutely necessary.”
Yes it is………but it needs to come from Obama…..not his subordinates. China could care less what the underlings have to say.
The Mandarins
January 19th, 2011
11:22 am
You should stop spending 17% of your GDP on healthcare, and more like 4% in Singapore. Then you could repay us better.
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/03/AR2010030301396.html
Bosch
January 19th, 2011
11:23 am
I could also have written that increasing our imports is required if we plan to deleverage the public/private debt AND increase our personal savings rate at the same time (which we claim to want to do).
See? I always feel my IQ go up about five points every time ByteMe is around.
Paul,
How do you know Australia isn’t tipping over too? It’s bigger and just takes more time.
The Mandarins
January 19th, 2011
11:24 am
This is improper reveal of information!!!
——————–
The reason Hu Jintao decided to visit the U.S. this month is that the Chinese leader wants to know when the U.S. economy and its currency will be stable and strong again.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=azIv9nXW9dyw
Mr. Manners
January 19th, 2011
11:27 am
All China need do to win a war against the US is cut off our supplies from their country. We’re lost without their merchandise. So please treat your suppliers well. Otherwise, many of you may find yourselves darning your own socks and sewing on buttons on those aging clothes and trying to glue back on those floppy heels on your shoes.
On the brighter side, I did notice a posting for an assembly line worker with a minimum of two years experience at McDonalds.
Paul
January 19th, 2011
11:27 am
Bosch
You may be correct. The flooding’s happening in only part of the country, which means one end has to be lower for the water to get in. If it was sinking, water’d be coming in from all sides.
Good catch!
Well, it’s either that, or Redneck Convert has a beer distribution monopoly on the whole country and those Aussies drank so darn much the drainpipes couldn’t handle the ‘runoff” and – viola! – flooding!
Paul
January 19th, 2011
11:28 am
Bosch
Okay, okay, it’s voila.
Rearrange a couple of letters and people get so darn excited….
Bosch
January 19th, 2011
11:30 am
“Good catch!”
Yeah, ByteMe’s smartness is rubbing off on me.
ByteMe
January 19th, 2011
11:30 am
Argh. Got it backwards exactly. Let me try again:
I could also have written that increasing our exports is required if we plan to deleverage the public/private debt AND increase our personal savings rate at the same time (which we claim to want to do).
Exports bring in more cash to the economy, allowing us to pay down debt and increase savings. Imports send cash out of the economy, showing up as an increase in debt or decrease in savings. Yet another reason we need to stop importing so much oil.
md
January 19th, 2011
11:32 am
“All China need do to win a war against the US is cut off our supplies from their country.”
I think that blade is double sided……………..and what does that do to their economy?
Paul
January 19th, 2011
11:33 am
Gotta check out that rightwingneocon cartoonist Luckovich’s cartoon putting down our President. It’s so on topic -
The Mandarins
January 19th, 2011
11:34 am
“and – viola! – flooding!”
A viola is a musical instrument. http://en.wikipedia.org/wiki/Viola
But you Americans wouldn’t even know how to play it.
http://www.nytimes.com/2011/01/16/fashion/16Cultural.html?src=me&ref=general
JohnnyReb
January 19th, 2011
11:34 am
Great news, but government stands in the way of recovery. From The Heritage Foundation edited by yours truly.
In the first full fiscal year of the Obama Administration, the federal government issued 43 major new regulations. According to the Administration’s own estimates the total cost of those rules was $28 billion.
The 2,319-page financial regulation bill requires 243 new formal rule-makings by 11 different federal agencies.
The 2,700-page Obamacare bill contains more than 1,000 instances where Congress instructed Health and Human Services (HHS) Secretary Kathleen Sebelius to regulate the health care industry. (But, according to your libs, the government is not taking over healthcare.)
And, in the ultimate power grab, federal regulators are providing “solutions” where no problem exists. For the first time in the history of the Internet, the federal government will begin to regulate service providers with “net neutrality” regulations.
All toll the Obama Administration inflicted $26.5 billion in new regulatory costs on the economy last year, an all-time record. This on top of the $1.75 trillion in regulatory costs already on the books from previous administrations.
No wonder the business community, large and small, felt under attack, refrain from hiring, and move manufacturing overseas.
Now that Obama was “shellacked” at the polls and unemployment is over 9 percent – a post–World War II record of 20 months in a row, Obama is desperate to convince the public that his war on business is over. Hence Obama’s Wall Street Journal op-ed yesterday announcing “a government-wide review of the rules already on the books to remove outdated regulations that stifle job creation and make our economy less competitive.” Don’t believe it.
The executive order doesn’t actually require federal agencies to identify harmful regulations during the next 120 days. Instead, it requires they submit a “preliminary plan” for reviewing regulations sometime in the future. That is not an order to reduce a single regulation. It is an order to plan to plan to maybe someday reduce regulations!
Furthermore, the order exempts “independent” agencies like the Securities and Exchange Commission, the Federal Communications Commission, and the new Consumer Financial Protection Bureau.
Even if an existing rule is found that stifles job creation, it will take years to actually repeal it. Kauffman Foundation Vice President Robert Litan tells The New York Times: “It’s more of a talking point than a policy.”
The new conservative Congress has a number of weapons at their disposal to slow Obama’s expansionist administrative state. Congress can withhold funding from the Environmental Protection Agency for writing global warming regulations (here’s your increased electric rates courtesy of Obama). The Congressional Review Act allows Congress to review and overrule regulations issued by government agencies (when this happens, the Leftist meida will be crying to high heaven). And today, the House of Representatives will take a big first step in rolling back Health and Human Services czar-like power over one-sixth of our economy when they vote to repeal Obamacare.
barking frog
January 19th, 2011
11:34 am
For those who were not around to see the collapse
of the Soviet Union and communism there, you have
a front row seat to the dying gasps of communism in
China. They will be adequate competitors in capitalism.
The pendulum swings in manufacturing but not for any
good reason. Labor is cheap overseas but that exploited
labor must be shared with the unexploited labor in the U.S.
thus the taxing of wealthy incomes from that exploited
labor must be reinstated, if our government is to continue.