Made In America: Manufacturers Association Asks Congress To Reauthorize Ex-Im Bank

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U.S. JOBLESS RATE HOLDS STEADY AT 5.5%, WAGES EDGE UP SLIGHTLY
The U.S. economy added 280,000 nonfarm jobs in May as the unemployment rate held steady at 5.5% and wages edged slightly higher to $25 an hour nationally, the U.S. Bureau of Labor Statistics reported Friday (June 6).

Job gains occurred mainly in professional and business services, leisure and hospitality, and health care, while the mining sector continued to decline. The number of unemployed persons also was essentially unchanged at 8.7 million.

In May, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents to $24.96. Over the year, average hourly earnings have risen by 2.3%. Average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents to $20.97 in May.

The change in total nonfarm payroll employment for March was revised from +85,000 to +119,000, and the change for April was revised from +223,000 to +221,000. With these revisions, employment gains in March and April combined were 32,000 more than previously reported. Over the past three months, job gains have averaged 207,000 per month.

To see the full U.S. jobless report, click here.

MANUFACTURERS ASSOCIATION ASKS CONGRESS TO REAUTHORIZE EX-IM BANK
In a letter coordinated by the National Association of Manufacturers and the U.S. Chamber of Commerce, more than 1,000 companies and associations representing businesses, manufacturers and their employees from all 50 states, urged Congress for quick action on a long-term reauthorization of the U.S. Export-Import (Ex-Im) Bank.

“Failure to secure a long-term reauthorization of Ex-Im would amount to unilateral disarmament in the face of other governments’ far more aggressive export credit programs, which have provided their own exporters with significant financing support in recent years,” said the letter. “If Ex-Im is not reauthorized before June 30, American companies would be put at a unique disadvantage in global markets, resulting immediately in lost sales and lost jobs.”

Americans for Prosperity, however, sent out an alert last week urging its 2.8 million members to write their congressional officials and request a “no” vote on legislation to reauthorize the Ex-Im Bank.

“Americans deserve better than to have their tax dollars used to subsidize loans for politically-connected corporations and to support the culture of corruption that has run rampant at the Export-Import Bank,” said Brent Gardner, AFA’s vice president of government relations.

LOCKHEED MARTIN OFFICIALS BOAST ABOUT CAMDEN PRODUCTION FACILITY DURING VIRTUAL TOUR
A Lockheed Martin official called the company’s JLTV production facility in Camden the “most advanced (tactical vehicle) production facility on earth” during a virtual tour of the defense contractor’s South Arkansas operations on Tuesday.

The Bethesda, Maryland-based defense contractor held an online webinar with media from across the U.S., providing an opportunity for reporters to pose questions to Lockheed Martin executives about the capability of the company’s Arkansas workforce, and how quickly the company would be able to bring the next-generation tactical vehicle for the U.S. Army and Marine Corps off the assembly line.

NEW NATO ‘GLOBAL HAWK’ DRONES ROLL OFF ASSEMBLY LINE
Northrop Grumman Corp. unveiled the new unmanned NATO Alliance Ground Surveillance (AGS) aircraft, otherwise known as the Global Hawk drone, during an audience of customers, distinguished guests, employees and community leaders at the defense giant’s assembly plant Thursday in Palmdale, Calif.

The unmanned aircraft is part of a broader system of intelligence, surveillance and reconnaissance (ISR) aircraft that will advance aid in NATO’s missions of protection of ground troops and civilian populations, border control and maritime safety, the fight against terrorism, crisis management and humanitarian assistance in natural disasters, officials said.

The NATO-owned and operated program includes five air vehicles and fixed, mobile and transportable ground stations. Northrop Grumman’s primary industrial team to develop, assemble and manufacture the Global Hawk includes Airbus Defence and Space (Germany), Selex ES (Italy) and Kongsberg (Norway), as well as leading defense companies from all participating countries.

There are 15 participating nations, including the U.S., that each contribute to the delivery of the AGS system. All 28 NATO Alliance nations will take part in the long-term support of the program, officials said.

To see Northrop Grumman’s newly released video of the new Global Hawk production and assembly, see below.