Perspective: Manufacturers are hiring, and hiring

By Justin Fox for Bloomberg View

Mar 09, 2018

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The manufacturing mini-renaissance continues. Over the past year, according to today's employment report from the Bureau of Labor Statistics, the sector has added 222,000 jobs, 1 resuming a recovery that had paused in 2015 and 2016 amid strength in the dollar and weakness in the U.S. oil and gas industry.

The manufacturing sector is adding jobs at a faster pace than the rest of the economy, which hasn't happened much over the past half century. Manufacturing jobs pay better than other jobs ($900.55 in average weekly earnings for production and non-supervisory employees in February, versus $757.12 for the private sector as a whole). They also tend to have multiplier effects that most service jobs don't, creating other jobs and income in their wake. So a booming manufacturing sector is a very good thing.

Read the full perspective at bloomberg.com.

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