‘US manufacturing is doing well and will continue to do well,’ Fed economist says

Excerpt from ‘US manufacturing is doing well and will continue to do well,’ Fed economist says

“There is a great perception that we no longer make anything any more, that everything is made in China,” Strauss said. “U.S. manufacturing is doing well and will continue to do well.”

The manufacturing sector, which employed 17,300 workers as of December in the Sarasota-Manatee region, has struggled for decades, especially since the Great Recession, when output dropped nearly 21 percent within 18 months nationwide. More than 2.3 million workers lost their jobs.

While total employment continued to fall, manufacturing output has grown steadily as plants perform smarter or more efficiently with more and improved machines and better-trained workers.

“What took 1,000 workers to do in 1950, in 2018 it takes less than 200 workers,” he said.

Yet, manufacturers are still “desperate” to find good workers to hire.

Continued…

Read more at the Sarasota Herald Tribune


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