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Daily news and top headlines for manufacturing professionals

Q&A: The State Of The Engineering Services Outsourcing Market

January 28, 2015 2:28 pm | by Maura Falk, Associate Editor, Industrial Maintenance & Plant Operations | Articles | Comments

Sampath Kumar, Partner and Global Leader at ISG (Information Services Group) Engineering Services, spoke with IMPO about the important trends and growth within the Engineering Services Outsourcing Market. Kumar explains why the ESO market has been growing and some interesting new trends to watch in 2015...

Manufacturing Snapshot Of The Week: Obama's Trip To India

January 28, 2015 2:21 pm | by Bridget Bergin, Associate Editor | News | Comments

President Obama’s landmark trip to India this week was aimed at improving the economic relationship between India and the U.S. Here are some manufacturing-related highlights of Obama’s trip to India: Obama announced a big step toward the nuclear technology pact between the two...

Jobless Rate Moves In 2014: CO Best, LA Worst

January 27, 2015 6:22 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Colorado's unemployment rate fell by a third. Louisiana's jumped nearly a quarter. Across the country, changes in unemployment rates varied from state to state in 2014, but collectively the numbers pointed to a year of substantial improvement: Jobless rates fell in 46 states, and everyone except...

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Most States Report Job Gains In December

January 27, 2015 4:42 pm | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

Strong fourth-quarter hiring numbers nationally translated to the state level as well, as 42 states reported falling unemployment rates in December. The latest state and regional estimates from the federal Bureau of Labor Statistics, by contrast, showed only four states with rising unemployment...

Survey: Car Purchases Expected To Soar In 2015

January 27, 2015 10:19 am | by The Associated Press | News | Comments

Huntington Bank’s Third Annual Midwest Economic Index reveals 16 percent of consumers definitely will purchase a car in 2015. The response represents a 10 percent increase over definite intent for car purchases in 2014 and is a clear sign of optimism among consumers interviewed in...

Orders For U.S. Durable Goods Fell 3.4% In December

January 27, 2015 9:22 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Orders for long-lasting manufactured goods dropped sharply in December, dragged lower by a big decline in demand for commercial aircraft. Orders for durable goods fell 3.4 percent in December following a 2.1 percent decline in November, the Commerce Department reported Tuesday. The decline was...

The Next Global Markets For U.S. Businesses

January 26, 2015 3:01 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Videos | Comments

The U.S. economy is surging ahead while areas like China, Europe and Russia struggle economically. In order to keep the momentum going for U.S. businesses, they’ll have to look at new global markets to expand. So where are companies aiming their focus? While there’s been talk about Cuba, now that restrictions...

Falling Grain Prices Hit Farm Equipment Manufacturers

January 26, 2015 2:52 pm | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

Manufacturers of farm equipment are starting to feel the effects of falling grain prices on farmers' profit margins. Deere & Company, the Moline, Illinois-based maker of John Deere tractors, recently announced more than 800 layoffs at four Iowa facilities and 45 more at its plant in East Moline, Illinois. The company...

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Report: Employers In CT Added 4.8K Jobs In December

January 26, 2015 1:24 pm | by The Associated Press | News | Comments

Connecticut employers added 4,800 jobs in December, helping push down the unemployment rate a notch, to 6.4 percent, the state Department of Labor announced Monday. Connecticut's employment increased by 26,700 jobs since December 2013, to nearly 1.7 million. And the unemployment rate ticked down...

Low Inflation Likely To Keep Fed 'Patient' About A Rate Hike

January 26, 2015 1:22 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

The Federal Reserve ended 2014 with a pledge to be "patient" in raising interest rates from record lows. The way things are going, its patience may endure for a long while. Though the U.S. economy has steadily improved, inflation has dipped further below the Fed's target rate. Chalk it up to...

Survey: Firms Optimistic On Hiring, Wages In 1Q

January 26, 2015 8:23 am | by The Associated Press | News | Comments

Rising sales helped boost hiring at U.S. businesses in the last three months of 2014, and companies are optimistic that continued improvement in business conditions will bring increased employment and wages in the current quarter, a new survey shows. And many businesses expect the steep drop in...

OH Unemployment Rate Drops To 4.8% In December

January 23, 2015 12:22 pm | by The Associated Press | News | Comments

Ohio's unemployment rate dropped to 4.8 percent last month, its lowest since September 2001 and the fourth consecutive monthly decrease. The state's Department of Job and Family Services said Friday that Ohio had 278,000 unemployed workers in December. That's down 9,000 compared with November,...

CA Cities Among Top Unemployment Rates; Upper Midwestern Cities Among The Lowest

January 23, 2015 11:55 am | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

The desert Southwest, the Jersey Shore and California's central valley account for the highest urban unemployment rates in the nation, according to data compiled by Forbes. The lowest unemployment rates, in contrast, primarily lie in northern college towns and in cities in close proximity to the country's shale...

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Gauge Of U.S. Economy Increases 0.5% In December

January 23, 2015 11:28 am | by Martin Crutsinger, AP Economics Writer | News | Comments

An index designed to predict the future health of the U.S. economy posted a fourth straight solid gain in December. The Conference Board said Friday that its index of leading indicators increased 0.5 percent in December after a revised gain of 0.4 percent in November. The index also posted solid...

Report: Manufacturing Wages Significantly Higher Than Comparable Workers

January 23, 2015 9:40 am | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

The average manufacturing worker made nearly 11 percent more than a comparable worker outside the manufacturing sector in 2012 and 2013, according to a newly released report. In the analysis from D.C.-based liberal think tank the Economic Policy Institute, author Robert E. Scott tabs the wage premium for manufacturing jobs...

MeadWestvaco to Sell European Tobacco Carton Business

January 22, 2015 1:32 pm | by Associated Press | News | Comments

Packaging company MeadWestvaco Corp. is selling its European-based tobacco folding carton business. The Richmond, Virginia-based company said Thursday it has signed a definitive agreement with Swedish company AR Packaging Group AB. Earlier this month, MeadWestvaco announced plans to spin off its specialty chemicals business into a separate, publicly traded company.

Copper Slide Triggers Mine Closure, Layoffs

January 22, 2015 1:27 pm | by Andy Szal, Chem.info | News | Comments

A recent decline in the price of copper — and worrisome projections about the metals market going forward — has led to the closure of one mine in Montana and concern throughout the industry. Spokane Valley, Washington-based Revett Mining Co. this week announced it would suspend operations at the end of the month at Troy Mine, which mines copper and silver northwestern Montana.

Treasury Sec: Congress Should Turn Efforts Toward Business Taxes

January 22, 2015 10:59 am | by Stephen Ohlemacher, AP | News | Comments

Treasury Secretary Jacob Lew dismissed efforts in Congress to overhaul the nation's tax laws by lowering the top income tax rate paid by individuals, saying lawmakers should instead focus on simplifying taxes paid by businesses, where there is more agreement.

NAM: President’s Call For Pro-Trade Policies Promising Sign For Manufacturers

January 21, 2015 8:56 am | by Jamie Hennigan, National Association of Manufacturers | News | Comments

National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement in response to President Obama’s State of the Union address tonight: “Manufacturers powered the American resurgence the President hailed tonight. Manufacturing...

Baker Hughes To Lay Off 7,000 Workers, Planning For Downturn

January 21, 2015 8:30 am | by The Associated Press | News | Comments

Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday. The layoffs represent about an 11 percent cut to the 62,000-plus workers Baker Hughes says...

Survey Shows Increased Optimism Among Manufacturing Executives

January 21, 2015 8:30 am | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | Articles | Comments

A newly released survey showed top U.S. manufacturing executives were increasingly optimistic about the national economy heading into 2015 -- and that many planned to increase their workforces this year. The latest Manufacturing Barometer from PwC -- a quarterly survey...

The State Of The Obama Economy

January 20, 2015 2:26 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Blogs | Comments

What can we expect from the President’s State of the Union address tonight? Probably some gloating. With gas now below $2 a gallon in most of the U.S., stocks soaring to record new highs, unemployment down to pre-recession levels, trade deficits shrinking and inflation...

Oilfield Services Giant Bolsters Presence In Russia Amid Layoffs

January 20, 2015 2:01 pm | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

Just days after announcing job cuts citing uncertainty in the global oil industry, Schlumberger Ltd. announced a deal to purchase a minority stake in one of Russia's leading energy companies. Texas-based Schlumberger, the largest oil drilling services company in the world, today announced the $1.7 billion agreement...

Cheap Gas Reignites America's Love Affair With The SUV

January 20, 2015 10:38 am | by CNN Money | Videos | Comments

SUVs are king once again, now that filling them up with gas costs significantly less than it did a few years ago. CNN Money's Christine Romans explains what drivers are buying, and why that doesn't necessarily mean an environmental catastrophe...  

From Car Lots To City Budgets, Cheap Oil Means Change

January 20, 2015 10:22 am | by Henry Jackson, The Associated Press | News | Comments

Cheap oil doesn't only mean cheaper gas in the tank. It means that a car dealer in Illinois is shuffling the inventory of models he'll be selling, that more students in Wisconsin may get school-provided iPads, that some planned projects in a Southern California city will get delayed, and that some expected...

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