Job market gauge up for 6th straight month
NEW YORK |
NEW YORK (Reuters) - The U.S. job market continued to improve in February for the sixth consecutive month, largely due to a strong recovery in manufacturing production, a research group said on Monday.
The Conference Board, a private research group, said its Employment Trends Index rose to 93.5 in February from 93.2 in January.
Over the last six months the index has climbed 13.4 percent, marking its highest six-month growth rate since 1994. The group said expects this trend to hold steady.
"The past two jobless recoveries in 1991 and 2002 were a result of a continuous decline in manufacturing employment. This time, the strong recovery in manufacturing production has already led to two consecutive monthly increases in manufacturing employment," said Gad Levanon, senior economist at The Conference Board.
"We are likely to see this trend continue over the next several months, which will contribute to overall job growth."
(Reporting by Camille Drummond; Editing by James Dalgleish)
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And this is why there figure is not believable given the comparable nature of the economies then and now. It is not possible that a recovery is greater this time than last given the US and global fundamentals.
The USA continues to hemorrhage manufacturing jobs i.e. Caterpillar looking to China for its future; American auto maker Chrysler opening ½ billion US plant in Mexico. 99% of everyday consumables sold in the “big box” retail stores are still made some where else, mostly from China. It is safe to say NO appliance, tool, toy, clothing, shoe, sporting good, computer and on and on is made in the USA.
The above report fails to mention the products of this increase in manufacturing. What could it be? Military hardware?
Our economy is collapsing due to the fact we allowed corporations to move out of our country. We allowed them to move to satisfy our greed for cheap, everyday consumables. All of us were to be employed in the government or service industries. These jobs don’t “make money” they just spend money. I am no economist, but I believe you have to make something in order to survive. China is “making” things, we allowed corporations to move out of our country. We allowed them to move to satisfy our greed for cheap, everyday consumables. All of us were to be employed in the government or service industries. These jobs don’t “make money” they just spend money. I am no economist, but I believe you have to make something in order to survive. China is “making” things, hence they are thriving. So tell me, what are we making so I can buy it? http://www.railroadingamerica.com
The US is Still the largest manufacturing company despite the best efforts of Reaganism to change that.
ccording to the Department of Labor (sourcing the United Nations United Nations, National Accounts Main Aggregates Database, http://unstats.un.org/) citing 2005 data the U.S. accounts for 20.6% of the worlds manufacturing nearly 1.5 times that of the 2nd largest (Japan 13.3%) and over twice 3rd largest (Germany 8.2%).
Now we need to close the corrupt banks and get back to investing in real innovations , not criminal activities on Wall Street.
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