Monday, March 21, 2011
Rustbelt recovery
This article talks about how many of the industries that rely on manufacturing are seeing much greater growth than other sectors. The article points out that in manufacturing intensive states like Ohio, Michigan, and Illinois unemployment rates have fallen quicker than in other states due to the rising demand for manufactured goods. It's not just the big companies who are recovering, either. The article discusses how many smaller manufacturing companies have benefitted due to the trickle down of parts needed. Many of these companies who make machinery or the primary parts have re-hired at least as many as they had to lay off during the recession. These rising manufacturing numbers are also contributed to the fact that foreign countries have been opening some manufacturing facilities in the U.S.
Subscribe to:
Post Comments (Atom)
3 comments:
Pretty interesting article, but i think the main focus was to talk about the growth of foreign emerging markets and how that affects the US. A lot of the growth in the rust belt was due to foreign demand and, while the recovery was impressive domestically, the recovery in foreign markets was even more impressive.
I would agree with Adam in the sense how the article talked about the growth of foreign emerging markets in relation to the US market. One thing i get from the article is the optimism about the US economy. I would expect to see more growth in the manufacturing sectors as well as an increase in the payroll.
In my Labor Economics class, I learned the fact that the United States have the biggest manufacture in terms of product value. It surprised me at some degree, because I thought it should be China. The fact is that, U.S exports airplanes, tech machines, and medical machines which are much more valuable than T-shirts or NIKE shoes from China. As a result, it is no surprise that manufacture in the U.S can create new jobs at this tough time.
Post a Comment