Editor’s note: Each Sunday, Talk Business & Politics provides “Made In America,” a round-up of state and global manufacturing news.
COMMERCE DEPARTMENT RELEASES REPORTS RANKING TOP U.S. EXPORT MARKETS
The U.S. Department of Commerce has released the second set of Top Markets Reports that provides the latest assessment of export opportunities for U.S. companies in 19 sectors. As part of the International Trade Administration’s (ITA) Top Markets Series launched in 2015, the report ranks future export markets within a particular industry, delivering in-depth commentary on key opportunities, trends, and challenges facing U.S. companies looking to expand their businesses and export globally.
This year, the series includes seven new reports for industries including franchising, manufacturing technology, and pharmaceuticals. Each report ranks future export opportunities within a particular industry based on a sector-specific methodology. Twelve of the reports have been updated to provide the most up-to-date analysis and insights from experts, as well as incorporate information about how key developments in 2015 affect opportunities for U.S. exporters.
To download a full report or view individual case studies within each report, visit here.
OBAMA ADMINISTRATION ANNOUNCES ANTI-DUMPING MEASURES AGAINST CHINA, OTHER STEEL IMPORTING COUNTRIES
The Obama administration announced its affirmative final determinations following its anti-dumping investigations of cheap steel products entering the U.S. marketplace from China, India, Italy and Korea. The determination by the U.S. international Trade Administration will provide “a transparent, quasi-judicial and internationally accepted mechanism” to seek relief from the market-distorting effects caused by companies in China and other countries that benefit from unfair subsidization of imports into the United States, officials said.
The new antidumping rules, which the U.S. Department of Commerce say will establish “an opportunity for American companies to complete on a level playing field,” follows a recent announcement at the G7 Summit in Japan, where President Obama is an attendance. The America Iron and Steel Institute on Friday released a statement praising the president for his leadership in addressing the surge of cheap steel in the U.S., blaming the Chinese government for the “massive steel glut.”
ST. LOUIS FED: DISCOURAGED WORKERS LEAVING THE WORKFORCE PARTLY RESPONSIBLE FOR LOW U.S. JOBLESS RATE
A recent research brief by the St. Louis Federal Reserve shows that the unemployment rate in the U.S. has been declining since the Great Recession partly due to discouraged workers leaving the labor force, as illustrated by the decrease in the labor force participation rate.
According to research by Fed economist Ana Maria Santacreu, the labor force participation rate has started to increase after trending downward since the end of the recession. It rose from 62.4% in September to 63% in March before settling at 62.8% in April. During this period, the U.S. unemployment rate has continued decreasing, reaching 5% in April. Arkansas’ jobless rate hit an all-time low of 3.9% last month.
To see the Federal Reserve report, click here.