Manufacturing job openings rose to almost 600 thousand up almost 40 percent from a year ago. Breitbart’s John Carney says just over 400 thousand of those jobs came from the durable goods sector- that’s household appliances, electronics, and furniture. “That’s an increase from a year ago of 68 percent. That’s really incredible since just the end of last year this sector added 72,000 jobs. Right now, we have very low unemployment. So, what that means, is when we are growing jobs out of one sector to bring people into manufacturing they’re having to outbid and raise the wages to get them into the doors of the factories.” He explained.
The August survey form the Institute for Supply Management shows the manufacturing index registered at 54.6- its 8th consecutive month of expansion. Production came in at a roaring 58.3 and has now expanded for 10 consecutive months. Computer electronics are up 9.9% and Business equipment is up 10.7%. The report showed 15 industries expanded and only 2 contracted.
Carney says you have to look at the Trump economic package as a whole. “The promise we weren’t going to allow foreign countries to dump goods in the U.S. and destroy our manufacturing is helping- so the tariff policy is helping. You combine the tax, tariffs, and the deregulatory program- that’s what’s feeding our manufacturing renaissance in America today.” He said.
