Things are Looking up for Manufacturing
Manufacturing has played a pivotal role in the American economy since the Industrial Revolution, helping the US become a global economic super power.
As the US turned its attention to service-based industries, manufacturing was hit with the old one-two punch. Jobs were lost to foreign manufacturers and plants were shut down as a result of the recent recession.
Like a boxer in the ring, the manufacturing industry took its licks but is coming back with vengeance. In August, new product orders increased at their fastest pace since January, propelling manufacturing activity into a five-month high.
The global economy is shifting as well, with more production returning to the US. According to the experts, by 2020 between 2.5 and 5 million American factory and service jobs will be created, dropping unemployment rates by 3 percent.
We may not know what the future has in store for manufacturing, but we do know that things are looking up!