...... until we see a whole lot more of what you are about to read below
As the presidential election campaign heats up, you're almost certain to hear one line repeatedly: "The U.S. doesn't make things anymore."
It's a canard that's been kicking around since the 1980s.
Yes, there have been lean years for some types of manufacturing -- and ensuing job losses -- that have devastated some local economies.
But U.S. manufacturing didn't die; on the contrary, it's bouncing back ferociously. "The manufacturing sector is leading the recovery," says James Paulsen, an economist and market strategist with Wells Capital Management.
It's a canard that's been kicking around since the 1980s.
Yes, there have been lean years for some types of manufacturing -- and ensuing job losses -- that have devastated some local economies.
But U.S. manufacturing didn't die; on the contrary, it's bouncing back ferociously. "The manufacturing sector is leading the recovery," says James Paulsen, an economist and market strategist with Wells Capital Management.
More than a third of the 3% growth in the gross domestic product in the fourth quarter of 2011 came from manufacturing, though the sector makes up just 11% of the economy. And during the past four months, U.S. factories have contributed 17% of the new jobs. Key indicators such as industrial production and rail freight volumes are also showing solid strength.
In fact, "manufacturing has been a true bright spot in the economy over the last few years," says Chad Moutray, an economist with the National Association of Manufacturers
.
Expect this to continue for three reasons.
First, the U.S. economy is growing, and as demand rises, producers will add capacity, says Todd Lowenstein of the HighMark Value Fiduciary Fund (HMVMX). They'll be creating jobs and buying tools, machine parts, cranes, trucks and other equipment.
Second, a middle class has emerged in the developing world because we have bought so much stuff made there. "Over the last couple decades, we were building a brand-new world to sell to," says Paulsen. To wit: Exports of manufactured goods exports jumped 15% in February, and they accounted for three-fourths of a $16 billion gain in exports, says NAM's Moutray.
Third, the idea that China will take all our manufacturing jobs is proving false. In fact, jobs are coming back home, a trend christened "re-shoring." U.S. companies are fed up with low-quality production, counterfeiting and logistical headaches, says Michael Zinser, a manufacturing-sector expert with the Boston Consulting Group, and wages in China are rising rapidly.
Please note: The source of the above information and a whole lot more can be found here: http://money.msn.com/investing/10-companies-making-more-in-the-usa-brush-2#scpti2
In fact, "manufacturing has been a true bright spot in the economy over the last few years," says Chad Moutray, an economist with the National Association of Manufacturers
.
Expect this to continue for three reasons.
First, the U.S. economy is growing, and as demand rises, producers will add capacity, says Todd Lowenstein of the HighMark Value Fiduciary Fund (HMVMX). They'll be creating jobs and buying tools, machine parts, cranes, trucks and other equipment.
Second, a middle class has emerged in the developing world because we have bought so much stuff made there. "Over the last couple decades, we were building a brand-new world to sell to," says Paulsen. To wit: Exports of manufactured goods exports jumped 15% in February, and they accounted for three-fourths of a $16 billion gain in exports, says NAM's Moutray.
Third, the idea that China will take all our manufacturing jobs is proving false. In fact, jobs are coming back home, a trend christened "re-shoring." U.S. companies are fed up with low-quality production, counterfeiting and logistical headaches, says Michael Zinser, a manufacturing-sector expert with the Boston Consulting Group, and wages in China are rising rapidly.
Please note: The source of the above information and a whole lot more can be found here: http://money.msn.com/investing/10-companies-making-more-in-the-usa-brush-2#scpti2
On another note: how about some more TIME Grant #'s?
Total # of contracts: 94
Average wage: $16.45
Total amount of reimbursements: $305,953
Total # of companies receiving benefits: 35+
Total # of companies receiving benefits: 35+
In not even ONE month, we have nearly doubled our numbers!
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