- Published on Monday, 09 July 2012 12:56
Although the Bureau of Labor Statistics
(BLS) reports that manufacturers added only 40,000 new workers in the second quarter, down from 124,000 in the first quarter, manufacturing continues to spark economic recovery. Year-to-date, the sector has contributed 17% of all net job creation in the economy, but the unemployment rate remains at 8.2%. The Institute for Supply Management
(ISM) reported also that its Purchasing Managers’ Index fell below 50 for the first time since July 2009, suggesting that the manufacturing sector contracted in June, led by a sharp decline in new orders and exports.