Manufacturing Bust

Greg Kaza – President Barack H. Obama, if current trends continue, will become the first Democrat to preside over a net national loss in domestic manufacturing jobs since the Bureau of Labor Statistics started reporting monthly employment data in 1939. Seven percent of manufacturing jobs nationwide (873,000) have disappeared since Obama took office.

President Barack H. Obama, if current trends continue, will become the first Democrat to preside over a net national loss in domestic manufacturing jobs since the Bureau of Labor Statistics started reporting monthly employment data in 1939. Seven percent of manufacturing jobs nationwide (873,000) have disappeared since Obama took office.  By contrast, manufacturing employment expanded under Democrats Franklin D. Roosevelt, Harry S. Truman, John F. Kennedy, Lyndon B. Johnson, and James E. Carter. Even William J. Clinton, the first postwar Democrat to preside over a net loss of manufacturing jobs in the South, eked out a 323,000 nationwide gain during eight years in office. U.S. manufacturing employment under Clinton grew at an average monthly rate of 3,365 jobs. It would have to expand at an average monthly rate of 29,101 jobs from now through January 2013 for Obama to record a net gain, an unlikely proposition. Johnson was the last Democrat to preside over manufacturing employment growth that robust.

The largest industrial states have recorded manufacturing job losses under President Obama. These include California (121,000), Texas (62,400), Illinois (59,000), Pennsylvania (50,900), North Carolina (50,400), Ohio (46,400), Indiana (29,200), and Michigan (23,900). National manufacturing job losses under President Obama have been broad-based. Durable-goods industry sectors that have recorded job losses under Obama include wood products, nonmetallic mineral products, primary metals, fabricated metals, machinery, computer and electronic products, electrical equipment and appliances, transportation equipment, furniture and related products, and miscellaneous manufacturing. Non-durable-goods sectors that have recorded losses include food manufacturing, beverages and tobacco products, textile products, apparel, leather and allied products, printing and related support activities, petroleum and coal products, chemicals, and plastics and rubber products. No manufacturing sector has yet to record a gain.

more… http://www.chroniclesmagazine.org/2010/09/01/manufacturing-bust/

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September 3rd, 2010

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