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Accession Number PB2012-114293
Title Benefits of Manufacturing Jobs. Executive Summary.
Publication Date May 2012
Media Count 10p
Personal Author N/A
Abstract The role of the manufacturing sector in the U.S. economy is more prominent than is suggested solely by its output or number of workers. It is a cornerstone of innovation in our economy: manufacturing firms fund most domestic corporate research and development (R&D), and the resulting innovations and productivity growth improve our standard of living. Manufacturing also drives U.S. exports and is crucial for a strong national defense. The current economic recovery has witnessed a welcome return in manufacturing job growth. Since its January 2010 low to April 2012, manufacturing employment has expanded by 489,000 jobs or 4 percent the strongest cyclical rebound since the dual recessions in the early 1980s. From mid-2009 through the end of February 2012, the number of job openings surged by over 200 percent, to 253,000 openings. Coupled with attrition in the coming years from Baby Boomer retirements, this bodes well for continued hiring opportunities in the manufacturing sector.
Keywords Benefits
Economic development
Economic recovery
Employment
Exports
Jobs
Labor market
Manufacturing
Productivity
Research and development
Standard of living
Technology innovation

 
Source Agency Economics and Statistics Administration Office of Policy Development
NTIS Subject Category 96A - Domestic Commerce, Marketing, & Economics
70D - Personnel Management, Labor Relations & Manpower Studies
Corporate Author Economics and Statistics Administration, Washington, DC.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1225
Contract Number N/A

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