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Manufacturing Industry Records Eighth Month of Job Growth

U.S. Manufacturing Industry

The first half of 2018 is off to a positive start with continued growth in the manufacturing sector. Recent statistics from the Bureau of Labor reported an additional 18,000 jobs added within the industry. During the month of May, this equated into 12.673 million jobs, just slightly higher than the 12.655 million jobs reported in April. Many of these new jobs come from durable goods manufacturing.

Compared to a year ago when May 2017 numbers were at 12.414, this demonstrates a positive lift. Other economic areas such as the non-farm sector continue to show increases with 223,000 new jobs reported during the month of May, better than the 188,000 jobs economists predicted during this time frame. Retail trade (31,000 jobs), health care (29,000 jobs), and construction (25,000 jobs) also saw increased growth, and the unemployment rate moved to 3.8 percent, according to the June 1 economic news release from the Bureau of Labor Statistics.

Areas of New Job Creation

Machinery manufacturers – 5,800 new jobs

Fabricated metal products – 2,400 new jobs

Wood products – 1,300 new jobs

Industry Downturn

One area of the industry not experiencing the same level of growth is within the motorized vehicle and parts industry. 4,400 manufacturing jobs were lost during the month of May in this sector. Traditionally, this area, which includes trucks, cars and other vehicles, has been one of the more robust in the industry. The once-top job creator continues to experience a dip as more automotive buyers switch their preference from cars to larger-size SUVs and trucks.

Despite this slump, the sector still experienced an overall gain of 1,400 jobs, and automotive dealers point out the benefits of better-quality automobiles produced by leaner plants. Another bright side is SUVs and trucks have a larger price tag than most cars. Automotive industry insiders anticipate that larger profits from the production of SUVs and trucks will make it easier for automotive plants to make production changes, hopefully decreasing the need for large layoffs. Another positive is that automotive producers now react to changes in consumer desires quicker than they did in the past.

Slow Yet Steady

Nimbleness in manufacturing methods and changes in U.S. trade policy offer two examples of how the manufacturing industry continues to rebound from the 2008 financial crisis and recession. As economic conditions continue to improve, the industry shows steady, yet slow, growth with hiring continuing throughout much of the industry. A desire for products made in the U.S. also helps justify new jobs and an increasing workforce to meet growing demand. But the continuation of such trends remains to be seen with the possibility of an upcoming trade war, according to a news report from Manufacturing Talk Radio.

This article brought to you by the Cleveland Deburring Machine Company.

For information about our deburring and chamfering machines or for a free evaluation contact CDMC here or call  (216) 472-0200 to speak directly with  our experts!

 

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The Manufacturing Industry Has Long Been a Part of Ohio’s DNA

ohio manufacturing

Manufacturing in Ohio has roots that run deep and long as one of the oldest sectors in the state which employs over 688K people and has an output of over $100 billion as of 2015.

This sector was responsible for more than $47 billion in exported goods and a 93.8% share in total goods exported. In 2015, Ohio traded $29.35 billion in exports with Free Trade Agreement Partners with trade exports of $29.15 billion through the Trans Pacific Partnership. In 2013 small business contributed to a 89.4% share of total exporters. The top five markets account for 66.80% of manufactured goods exported. The top five are Canada (41%), Mexico (13.3%), China (5.1%), France (3.9%), and the United Kingdom (3.5%).

Ohio is regarded as a very attractive state for aerospace manufacturing. The aerospace industry employees more than 110,000 people. The aerospace firms based in Ohio generate annual revenue of $44 billion. The top three employers in this sector include GE Aviation (General Electric unit), UTC Aerospace Landing Systems (United Technologies Corp) & Honeywell.

There are also many small independent manufacturers like CDMC that work to support the aerospace industry in one way or the other through their services or products and/or parts manufactured. New investments on the horizon will likely only improve our standing in the aerospace manufacturing industry.

Ohio also has a strong chemical and polymer industry. Many of the world’s fortune 1000 companies have their manufacturing plants here, including Goodyear Tire and Rubber Company, Parker Hannifin, PolyOne Corporation, and Schulman. The chemical and polymer industry employees 46,000 people with an average salary of $64,600 a year, which is 24% higher than some other manufacturing jobs.

The future of manufacturing in Ohio is looking bright with major investments lighting the pathway and as Ohio residents we can definitively say, “Ohio is one of the best states for manufacturing in the U.S.”.

For information on a deburring machine to fit your manufacturing needs or a free evaluation, contact CDMC today via contact form or call us at (216) 472-0200 to speak directly with one of our experts!

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Great Inventions & Manufacturing Have Always Been a Part of New Jersey

new jersey manufacturing

From air conditioning to bubble wrap, New Jersey has been the land of great inventions and manufacturing, which go hand in hand, for a very long time.

When we check the stats on New Jersey manufacturing, it’s easy to understand why they’re one of the top states in the country.

21 Fortune 500 companies call New Jersey home.

Johnson & Johnson, Campbell soups, and Goya foods dominate their respective industries and are headquartered here.

The manufacturing sector contributes to 7.8 percent of the state domestic product with over 7,222 units.

The sector contributes around $28.72 billion to the state’s exports.

Accounts for 245,000 jobs. These employees represent around 6.1 percent of New Jersey’s labor force.

The total output of the state’s manufacturing industry is around $44.52 billion.

The average annual compensation of an employee is $90,540.

**Sources from Center for Manufacturing Research

The chemical industry is the largest contributor to New Jersey manufacturing. In fact, nearly 18 percent of the statewide industrial sector consists of chemical industries. The sector employs around 49,000 workers and pays salaries well above the state average. Chemicals contribute around 37 percent of New Jersey’s total manufacturing output with the chemical industry generally divided into four sub-sectors:  pharmaceutical & medicine, cleaning compounds, toiletries, and paint, coating & adhesives.

New Jersey also has a long and a rich history within the food industry. It is home to Campbell Soup, one of the world’s leading food companies. This company rose to fame after John T. Dorrance developed the first condensed soup. One of the most significant Hispanic food companies, Goya Foods, also has been a cornerstone of the state’s business community since 1974. More recently, Goya unveiled its new state-of-the-art corporate headquarters in Jersey City as part of a $250 million investment. With another 1900 companies employing around 44,000 people, the state’s food industry is worth approximately $105 billion.

For information on a deburring machine to fit your manufacturing needs or a free evaluation, contact CDMC today via contact form or call us at (216) 472-0200 to speak directly with one of our experts!

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