Seeing China’s manufacturing sector shrink is a trend that excites Americans, although it may not actually alleviate much of the pressure around a U.S. unemployment rate of 7.3 percent. The reality, according to many experts, is that the phenomenon is more one of nearshoring than reshoring, as many of these businesses — along with their jobs — head to Mexico.
U.S. consumer confidence has reached its highest point since August on the strength of a brighter view of the job market and business conditions. The Conference Board, a business research group, says its consumer confidence index rose to 80.7 this month from a December reading of 77.5. It was the second consecutive strong gain.
U.S. Senator Chris Coons (D-Del.) has today called for President Obama to focus tonight’s State of the Union address on ways the government will help American manufacturers expand and create new jobs.
Businesses cut back sharply on their orders for long-lasting manufactured goods in December with a key category that signals business investment plans falling by the biggest amount in five months. Orders for durable goods fell 4.3 percent in December compared with November, when orders had risen 2.6 percent.
The address will be wrapped in a unifying theme: The federal government can play a key role in increasing opportunities for Americans who have been left behind, unable to benefit from a recovering economy. Yet, at the core of the address, the president will deliver a split message.
Taking a closer look at the data, shipments of injection molding machinery were up 20 percent in the third quarter when compared with the same quarter of a year ago. Shipments of single-screw extruders advanced 9 percent, and shipments of twins-screw escalated 12 percent. Shipments of new thermoforming equipment spiked up 50 percent in Q3 when compared with last year
Yesterday, Doug Oberhelman, chairman and CEO of Caterpillar Inc., and Jay Timmons is president and CEO of the National Association of Manufacturers, penned an open letter to President Barack Obama calling for more leadership on creating an environment in which manufacturers can grow once more to create jobs and generate a stronger economy.
In a typical end-of-year spike, their new business volume was up 62 percent from the previous month’s volume of $6.6 billion. Cumulative new business volume for 2013 rose 3 percent over 2012.
California's jobless rate remains above the national average of 6.7 percent. Despite adding 235,700 jobs in 2013, higher-wage sectors such as manufacturing and construction posted declines in December. Manufacturing saw the biggest drop, with 6,000 fewer jobs.
Check out some of this week's top headlines from across Manufacturing.net, from Intel and Texas Instruments cutting a combined 6,100 jobs to Ralph Lauren's new 'Made in USA' Olympic attire. Also, Chrysler is now a wholly-owned subsidiary of Fiat and Chinese police seized almost 60,000 suspects involved in intellectual property infringement cases with a total estimated value of $28 billion.
British Prime Minister David Cameron says efforts to eradicate poverty must go hand-in-hand with curbing global warming. The comments came Friday at an Associated Press debate looking ahead to the expiration of the United Nations' "millennium goals."
Every January, companies make predictions about the year ahead and what trends they should expect. Bobby Bono, the U.S. industrial manufacturing leader at PwC, has assembled a list of trends he is predicting for the manufacturing sector moving forward.
The nation's union membership rate held steady last year. There were gains among private sector workers' unions but they were largely offset by losses in state and local government.
The Conference Board said Thursday that its index of leading indicators rose 0.1 percent last month. That's down from a 1 percent gain in November, the month after a partial 16-day shutdown of the federal government.
The number of Americans seeking unemployment benefits ticked up 1,000 last week to a seasonally adjusted 326,000, a level consistent with steady job gains. The Labor Department says the four-week average, a less volatile measure, fell for the third straight week to 331,500.
Overall, confidence in the equipment finance market is 64.9, the highest confidence level in two years, and an increase from the December index of 55.8. An improved general outlook for economic activity among industry leadership contributed to the increase.
Small business owners may be looking to the next SBA administrator for help making their companies stronger, but the role reaches into job creation and the health of the broader economy. More than 99 percent of the 27 million companies in the U.S. are small businesses. They employ about half the nation's workforce.
ABB said its fourth-quarter 2013 results were adversely impacted mainly by charges for storm-related project delays and some operational issues in the Power Systems (PS) division. Additional restructuring-related charges were taken in response to the division’s soft order intake in 2013. The company also booked non-operational charges related to certain Group legacy issues.
The U.S. Conference of Mayors says it expects a boost in economic growth in most metropolitan areas in 2014. That's an improvement from last year, when about one-third of the nation's cities saw an economic decline. Scott Smith, the mayor of Mesa, Ariz., and the group's president, says mayors are encouraged that Congress approved a budget agreement this month.
Angel Gurria, the secretary-general of the Organization for Economic Cooperation and Development, said Wednesday that "everybody's going to try to recover the jobs they lost, the welfare well-being they lost, the exports they lost and they are going to recover it in the shortest period of time."
Accounting and consulting firm PricewaterhouseCoopers, which conducted the survey, said the world's corporate leaders are "gradually switching from survival mode to growth mode." That could lead to more investment, growth and jobs.
Connecticut's U.S. senators are visiting Sikorsky's headquarters in Stratford to highlight how local defense contractors will benefit from spending in a recently approved federal budget. Sens. Richard Blumenthal and Chris Murphy will be joined by U.S. Rep. Rose DeLauro on the visit Tuesday to the helicopter division of United Technologies Corp.
In an updated outlook, the global lending organization forecasts that the world economy will grow 3.7 percent in 2014 and that the U.S. economy will grow 2.8 percent. The global forecast is 0.1 percentage point higher and the U.S. forecast 0.2 point higher than in the IMF's October forecast.
The European Union says it is suspending a part of the free trade negotiations with the United States to hold a three months-long public consultation amid worries about the deal's proposed rules for investment. EU trade chief Karel De Gucht said Tuesday "some people in Europe have genuine concerns" about the planned investment agreement and the EU therefore seeks their input.
Companies in France pay the highest payroll taxes in Europe. A promised $41 billion payroll tax cut is a centerpiece of Hollande's new bid to keep the economy from sliding back into recession and bring down nearly 11 percent unemployment.