CHICAGO—The rise of the U.S. dollar against the euro and other world currencies over the past year has reduced the cost-competitiveness of U.S. manufacturing compared with economies such as Germany, France, Japan, Australia and Brazil. However, the U.S. still maintains a significant cost advantage over these economies, and therefore manufacturers are unlikely to shift production to other nations, according to The Boston Consulting Group.
DETROIT—Wayne County, MI, has the best manufacturing economy in the United States, according to a report on job creation released Tuesday. Wayne tops the list of U.S. counties in creating manufacturing jobs, with the addition of 4,225 jobs in 2014, according to the report by Headlight Data.
WASHINGTON—Solid job growth is finally boosting paychecks for the rest of us. Incomes for the bottom 99 percent of American families rose 3.3 percent last year to $47,213, the biggest annual gain in the past 15 years, according to the Washington Center for Equitable Growth.
WASHINGTON—The National Association for Business Economics (NABE) predicts that the U.S. gross domestic product will grow 3.1 percent in 2015—up from a 2.2 percent expansion this year. The NABE also predicts that the jobless rate will come down to 5.4 percent by the end of next year.
If a federal agency helped reduce the trade deficit, increase U.S. manufacturing jobs, and returned a profit to the Treasury, you might think that was a good thing. Unfortunately, it’s not the case in topsy-turvy Washington.
NEW YORK CITY—A new study has found that pay for U.S. manufacturing employees has lagged over the last decade, even as jobs are now returning to the country as the recession fades. According to the National Employment Law Project, the median manufacturing wage fell by 5.2 percent between 2003 and 2013.