RIMA Submits PPP Amended Legislation

RIMA has requested an amendment to the Governor’s budget regarding the unfair taxation on the PPP funds.  The amendment is to allow quarterly payments rather than a lump sum.  In addition, we requested a waiver of any interest or penalties. We requested that payment be done on a quarterly basis.  We were informed that many [...]

2022-03-31T12:22:43+00:00March 31st, 2022|

The Great Resignation or Great Retirement

In keeping with the latest jobs numbers, a recent Manufacturing Institute survey has found that for the industry, “The Great Resignation” is really more of a “Great Retirement.” The government numbers: There were 808,000 manufacturing job openings in February, down from January’s 859,000, according to the U.S. Census Bureau. February’s number is also down from [...]

2022-03-31T12:22:04+00:00March 31st, 2022|

Supply Chain Issues Continue

With West Coast dockworker contracts expiring July 1, shippers are preparing for the possibility that contentious negotiations could cause shipping delays, according to The Wall Street Journal (subscription). Labor talks: There is currently no formal start date for labor talks between West Coast dockworkers and terminal employers. The talks will attempt to replace an agreement [...]

2022-03-31T12:21:07+00:00March 31st, 2022|

Manufacturing Global Update

After falling in January to the weakest reading since October 2020, the J.P. Morgan Global Manufacturing PMI ticked higher in February, and the index for future output rose to a 10-month high. But, it is important to note that these surveys took place before the Russian invasion of Ukraine, which will likely influence sentiment in [...]

2022-03-31T12:12:04+00:00March 31st, 2022|

NAM Economic Report – March 2022

In the latest NAM Manufacturers’ Outlook Survey, 88.8% of respondents felt either somewhat or very positive about their company outlook, up from 86.8% in the fourth quarter, though it’s important to note that the survey was conducted Feb. 11–25, which was mostly before the Russian invasion of Ukraine and the resulting crisis and disruption. Manufacturers [...]

2022-03-31T12:11:00+00:00March 31st, 2022|

Gender Gap in Manufacturing NAM 35×30 Campaign

The gender gap in manufacturing is on course to be a thing of the past. What’s going on: The Manufacturing Institute, the NAM’s workforce development and education partner, has announced its “35x30” campaign, which aims to increase women’s representation in manufacturing to 35% by 2030 through industry-perception change, mentorships and collaborations. Women currently make up [...]

2022-03-31T12:09:56+00:00March 31st, 2022|

Manufacturing Investing in Construction-Expansion

Private manufacturing construction spending jumped 8.5% to a record $92.86 billion in January, soaring 31.2% over the past 12 months. These data speak to the strength of the manufacturing sector and the need to increase capacity to meet very robust demand. New orders for manufactured goods rose 1.4% to a record $544.2 billion in January. Excluding transportation [...]

2022-03-31T12:08:37+00:00March 31st, 2022|

Labor Stats

By the numbers: Jobless claims fell to 215,000 for the week ending Feb. 26, down from 233,000 the previous week. The four-week average for claims fell by 6,000 to 230,500. Approximately 1,476,000 Americans were collecting jobless aid in the week ending Feb. 12. Recent economic trends: “The U.S. economy has rebounded strongly from 2020′s coronavirus-caused [...]

2022-03-31T12:07:14+00:00March 31st, 2022|

Economic Report – March 2022

After expanding in January at the slowest pace since October 2020, the IHS Markit Flash U.S. Manufacturing PMI rebounded in February. The index for future output also improved to the strongest reading since November 2020, pointing to optimism about production moving forward despite ongoing supply chain bottlenecks, workforce shortages and pricing pressures. The U.S. economy [...]

2022-03-31T12:03:59+00:00March 31st, 2022|
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