October 7, 2013: Monday Morning in Shutdown City
Happy Monday, America! Week two of the
Great Government Shutdown of 2013 is underway, with still no end in sight. Last week the impasse cost us valuable information on employment statistics, and tomorrow there won’t be an update on America’s monthly trade balances (though if last month’s trade report is any indication, the safe money says we’re still running enormous deficits).
But as we said last week: No jobs report? No problem. The Alliance for American Manufacturing (AAM) isn’t one to leave you hanging, and that’s why we put out our own report. We asked our supporters to send in the jobs report as they saw it from their communities across the nation, and the results were pretty illuminating; they painted a picture of the American economy that a data dump can’t.
Elsewhere around the web:
Fresh on the heels of the ongoing shutdown comes another artificial-but-serious problem for Congress to stumble over: The debt limit. Will we raise it or breach it? Reports Yalman Onaran for Bloomberg:
Failure by the world’s largest borrower to pay its debt -- unprecedented in modern history -- will devastate stock markets from Brazil to Zurich, halt a $5 trillion lending mechanism for investors who rely on Treasuries, blow up borrowing costs for billions of people and companies, ravage the dollar and throw the U.S. and world economies into a recession that probably would become a depression.
A mini-manufacturing strategy is springing up in response to a “mini-renaissance” of the Bay State's manufacturing sector. Using a combination of federal, state, and local funds, the Massachusetts Manufacturing Extension Partnership has provided free technical training for 500 workers since 2006 writes Jay Fitzgerald for the Boston Globe. Says Fitzgerald:
A recent Northeastern University report estimates that manufacturers will need to fill 100,000 jobs in Massachusetts alone over the coming decade, with many of those jobs in so-called advanced manufacturing …
One Ohio valley, two counties, and a story of de-industrialization. Ed Rundy of the Youngstown Vindicator traces employment in Mahoning and Trumbull counties over the last few decades, and it makes for a fascinating analysis of what manufacturing job loss has meant for middle-class American communities. Give it a read.
Walmart, the High King of Import Retail, will continue its Made-in-America PR push this week with the announcement of two new manufacturing partnerships in Arkansas that will create roughly 200 jobs. The Wall Street Journal's James R. Hagerty has the story. AAM President Scott Paul remains skeptical of Wal-Mart’s motives, but optimistic about its possible effects:
If Walmart's Made In America promotion is even half as successful for the company as the outsourcing trend its business model has bankrolled, American manufacturing may be in for a rebound indeed.
One last manufacturing fact?
Sure! Why not?
Have a good day out there, America!
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