Editor’s note: Each Sunday, Talk Business & Politics provides “Made In America,” a round-up of state and global manufacturing news.
JOBLESS RATE AMONG FOREIGN WORKERS IN U.S. DROPS TO 4.9%
The unemployment rate for foreign-born persons in the United States was 4.9% in 2015, down from 5.6% in 2014, according to a U.S. Bureau of Labor Statistics report. The jobless rate of native-born persons fell to 5.4% from 6.3% in the prior year.
Data on nativity are collected as part of the Current Population Survey (CPS), a monthly sample survey of approximately 60,000 households. The foreign-born are persons who reside in the United States but who were born outside the country or one of its outlying areas to parents who were not U.S. citizens. The foreign-born include legally-admitted immigrants, refugees, temporary residents such as students and temporary workers, and undocumented immigrants.
U.S. COMMERCE SECRETARY HONORS AMERICAN COMPANIES WITH EXPORT AWARDS
U.S. Secretary of Commerce Penny Pritzker recently honored 123 U.S. companies and organizations that export goods and services overseas during the 2016 President’s “E” Awards ceremony. For the first time in the award’s 54-year history, winners represent every state and the District of Columbia. Of this year’s 123 honorees, 105 are small and medium-sized businesses, and 64 firms are manufacturers.
Arkansas-based Power Technology, a laser manufacturing firm, was an Arkansas award winner.
The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports. In 1961, President Kennedy signed an executive order reviving the World War II “E” symbol of excellence to honor and provide recognition to America’s exporters.
This year’s honorees — the largest group to ever receive this award — helped contribute to the United States’ exporting $2.23 trillion worth of goods and services in 2015, and the estimated 11.5 million American jobs supported by exports. In 2015, the U.S. increased its exports to 58 international markets and attained record exports with 20 global partners in 2015.
BAYER AG MAKES UNSOLICITED TAKEOVER BID FOR ST. LOUIS-BASED MONSANTO
Multi-national chemical and pharmaceutical giant Bayer AG confirmed on May 19 that the company recently met with executives of Monsanto to privately discuss a negotiated acquisition of St. Louis-based Monsanto Company.
Bayer said the proposed combination would reinforce Bayer as a global innovation-driven Life Science company with leadership positions in its core segments, and would create a leading integrated agriculture business. According to each company’s financial statements, a combination of the German and U.S. companies would have annual sales of nearly $70 billion.