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Tuesday, February 1, 2011

AP: Factory Sector Expands at Fastest Pace in 7 Years


Posted on  by Karina
Helping to lead the economy out of the Bush recession, America’s manufacturing base has grown with 136,000 manufacturing jobs added in 2010, the first increase since 1997:
Manufacturing Jobs
With our Make it in America Agenda, the economy continues to make strides in the right direction. Today, the Institute for Supply Management (ISM) released their January report finding:
The manufacturing sector expanded for the 18th consecutive month
Manufacturing activity grew at its fastest pace in 7 years
ISM’s employment index reached its highest level since 1973, indicating a willingness to hire
The factory sector expanded in January at the fastest pace in seven years, as manufacturers reported a sharp jump in new orders. …The employment index also rose, a sign that manufacturing companies are hiring more workers.
Conditions for the nation’s manufacturers improved for the 20th straight month, the Institute for Supply Management reported Tuesday. The ISM index rose to 60.8% in January from 58.5% in December. This is the highest level of the factory index since last May. The report was much stronger than expected.
House Democrats are committed to doing more to accelerate job growth and create the high-skill, high-wage jobs of the future—promoting American competitiveness, innovation, and exports. However, Republicans have been in charge for a month and have offered no plans for jobs.

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