Made In America: Rust Belt Leading U.S. Manufacturing Charge Again
by July 26, 2015 7:03 am 131 views
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FORBES: RUST BELT LEADING U.S. MANUFACTURING CHARGE AGAIN
In a new report that ranks the U.S. boomtowns that are leading a renaissance in the manufacturing sector, Forbes declares that Michigan and the Rust Belt is back by sweeping the top three places on the magazine’s list of big cities generating the most new blue collar jobs.
To generate rankings of the best places for manufacturing jobs, Forbes evaluated the 373 metropolitan statistical areas for which the U.S. Bureau of Labor Statistics has complete data over the past decade. The rankings factor in manufacturing employment growth over the long term (2003-14), medium term (2009-14) and the last two years, as well as momentum.
The article begins:
“Manufacturing may no longer drive the U.S. economy, but industrial growth remains a powerful force in many regions of the country. Industrial employment has surged over the past five years, with the sector adding some 855,000 new jobs, a 7.5% expansion.”
To read the entire article in Forbes’ “Reinventing American” series, click here.
LOCKHEED MARTIN: ANNOUNCEMENT ON JLTV, STEALTH BOMBER PROGRAMS EXPECTED IN AUGUST, SEPTEMBER
Top Lockheed Martin executives said they expect to hear a decision in August or September on two high stakes Pentagon contracts that will play a large role in the U.S. military’s future ground and air combat effectiveness, including the $30 billion Joint Light Tactical Vehicle (JLTV) project that could land in Camden’s Highland Industrial Park. Read more here.
NEW CAR SALES ON THE RISE IN JULY
New cars are expected to increase 2.6% year-over-year to a total of 1.47 million units in July 2015, resulting in an estimated 17.1 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book.
“As the industry settles into the summer selling season, new-car sales are expected to remain consistent with last month’s numbers, representing modest and slowing growth versus last year,” said Alec Gutierrez, senior analyst for Kelley Blue Book. “Sales in the first half of the year totaled 8.5 million units, a year-over-year improvement of 4.4% and the highest first-half volume since 2005. Total sales in 2015 are projected to hit 17.1 million units overall, a 3.6% year-over-year increase and the highest industry total since 2001.”
With a wave of new models hitting the market, compact SUVs once again will be the fastest-growing segment in the market.
GALLEY SUPPORT NAMES NEW DIRECTOR OF OPERATIONS
Sherwood-based Galley Support Innovations Inc. recently appointed David Valovich as Director of Operations/Engineering. Valovich will be responsible for GSI’s daily operation and production management and execution of strategic planning and will lead the company’s product design and engineering operations as well as quality assurance and compliance teams. Galley is a designer and manufacturer of interior hardware and mechanisms for the aviation, marine, rail and private transportation industries. In April, the company announced plans to expand its current Sherwood location and double its 25-person workforce over the next three to five years.
WEEKLY WAGES FOR U.S WORKERS RISE 2.7%, LABOR DEPARTMENT SAYS
Median weekly earnings of the nation’s 108.8 million full-time wage and salary workers were $801 in the second quarter of 2015 (not seasonally adjusted), the U.S. Bureau of Labor Statistics reported last week. This was 2.7% higher than a year earlier, compared with no change in the Consumer Price Index for All Urban Consumers (CPI-U) over the same period.
Among the major occupational groups, persons employed full time in management, professional, and related occupations had the highest median weekly earnings – $1,357 for men and $987 for women. Men and women employed in service jobs earned the least, $587 and $457, respectively.
By educational attainment, full-time workers age 25 and over without a high school diploma had median weekly earnings of $499, compared with $678 for high school graduates (no college) and $1,210 for those holding at least a bachelor’s degree. Among college graduates with advanced degrees professional or master’s degree and above), the highest earning 10 percent of male workers made $3,779 or more per week, compared with $2,412 or more for their female counterparts.