The American manufacturing industry is looking for new workers. While this sector has always been a core component of the nation’s economy, a recent report has surpassed even the most optimistic analysts’ expectations. According to a Bureau of Labor Statistics (BLS) report cited by Business Insider, manufacturing companies in the United States hired more than 37,000 new workers in July.
The BLS found that manufacturing companies had hired more than 327,000 new workers from July 2017 to July 2018, signaling strong growth and expansion for this otherwise vital sector of our nation’s economy. But not all sectors experienced this same strong growth. Overall, U.S. businesses hired about 157,000 new workers last month — fewer than previous projections.
“With 157,000 jobs created in July, including 37,000 in manufacturing, this report shows tax reform and regulatory relief are continuing to deliver for America’s manufacturing workers,” said Carolyn Lee of the National Association of Manufacturers’ Manufacturing Institute
How is the American manufacturing sector able to create so many new jobs when compared to other sectors? There are several factors attributed to the manufacturing sector’s newfound growth and success, one of which is an emphasis on made-in-America products. The federal government has been encouraging companies to produce goods stateside rather than overseas. In the past, companies have chosen to outsource their manufacturing processes to facilities in foreign countries to save money on labor and other operational expenses. While many companies still have overseas operations, some are now bringing these jobs back to the United States.
New tax laws are also helping to foster a healthy manufacturing sector in the United States. As explained by Carolyn Lee, it encourages manufacturers to build their products in the United States, thereby creating new jobs and promoting a healthy manufacturing sector.
“With 157,000 jobs created in July, including 37,000 in manufacturing, this report shows tax reform and regulatory relief are continuing to deliver for America’s manufacturing workers,” said Carolyn Lee of the National Association of Manufacturers’ Manufacturing Institute
The American manufacturing sector is also a diverse, varied industry that involves the production of countless goods. According to a report by the Bureau of Economic Analysts, some of the top goods produced by manufacturing companies in 2017 were food, beverages, chemicals and automobiles. With so many different products produced by manufacturing companies, it shouldn’t come as a surprise to learn that this sector is growing at such a fast pace. The only question is if or when this growth will slow down.