Manufacturing Update June 2022

The P. Morgan Global Manufacturing PMI inched up from 52.3 in April to 52.4 in May. However, it has largely trended lower over the past year, down from 56.0 in May 2021. Manufacturers continued to grapple with supply chain, inflationary and workforce challenges, and the most recent data reflected lingering uncertainties following the Russian invasion [...]

2022-06-22T09:41:04+00:00June 22nd, 2022|

Energy Climate & Manufacturing

The U.S. needs a unified climate-change strategy that will strengthen our energy security while empowering manufacturers, the NAM told the House of Representatives’ Energy, Climate and Conservation Task Force this week.  The Republican task force is one of seven recently created by House Minority Leader Kevin McCarthy (R-CA) to enact targeted policy solutions to current [...]

2022-06-22T09:39:33+00:00June 22nd, 2022|

China & Manufacturing Impact

“For manufacturers, China has long been a hub for unfair industrial subsidies and government-fueled overcapacity in areas like steel and aluminum that distort global markets,” Monahan said. “China continues to promote discriminatory industrial policies, forced technology transfer and intellectual property theft that harm manufacturers and workers in the U.S. Increasingly, China is also using global [...]

2022-06-22T09:38:55+00:00June 22nd, 2022|

Manufacturing Still Going Strong

Manufacturing employment rose by 18,000 in May, the weakest monthly increase in 13 months. Despite some softening, as well as significant ongoing challenges with supply chain disruptions, workforce shortages and soaring costs, hiring in the sector has remained robust. Through the first five months of 2022, the sector hired 213,000 employees, building on the 365,000 [...]

2022-06-22T09:37:19+00:00June 22nd, 2022|

Cyber Concerns

All manufacturers should secure their businesses against cyberattacks, whether they're obligated to do so or not. According to the National Institute of Standards and Technology Manufacturing Extension Partnership Cybersecurity Services Lead Celia Paulsen, one of the most important—and most often neglected—steps manufacturers can take is simply to understand the structure and information flow within their [...]

2022-06-22T09:36:18+00:00June 22nd, 2022|

Manufacturing Job Openings All New High

Manufacturing job openings hit a new record in April, according to the Labor Department’s Job Openings and Labor Turnover Survey. NAM Chief Economist Chad Moutray has the details: “There were 996,000 manufacturing job openings in April, a new all-time high, with increased postings for both durable and nondurable goods firms,” said Moutray. “Over the past [...]

2022-06-22T09:35:49+00:00June 22nd, 2022|

Economic Report End of May

Our move: The NAM has been deeply involved in this issue and is communicating with federal policymakers to urge swift negotiations. For more information, please contact NAM Vice President of Infrastructure, Innovation and Human Resources Robyn Boerstling. The S&P Global Flash U.S. Manufacturing PMI declined from 59.2 in April to 57.5 in May, a three-month [...]

2022-06-22T09:35:02+00:00June 22nd, 2022|

Supply Chain Labor Negotiations West Coast Port

Ongoing labor negotiations have far-ranging implications for some of America’s busiest ports and the manufacturers that depend on them, according to Bloomberg. Who’s involved: The International Longshore and Warehouse Union represents marine clerks, foremen and longshore workers employed by 29 West Coast ports. The Pacific Maritime Association represents about 70 employers including some of the [...]

2022-06-22T09:34:20+00:00June 22nd, 2022|

Manufacturing PMI Falls

“The S&P Global Flash U.S. Manufacturing PMI declined from 59.2 in April to 57.5 in May, a three-month low,” said Moutray. “New orders (down from 59.0 to 56.9), output (down from 57.6 to 55.2) and exports (down from 56.4 to 52.3) slowed in May." "As such, manufacturing activity continued to expand somewhat modestly but pulled [...]

2022-06-22T09:33:18+00:00June 22nd, 2022|

Overview Optimism Index

The National Federation of Independent Business reported that the Small Business Optimism Index was unchanged at 93.2 in April, remaining the lowest level since April 2020. Supply chain disruptions, workforce shortages and inflation continued to challenge small business owners. Small business respondents in the NFIB survey cited inflation as the top “single most important problem,” [...]

2022-06-22T09:31:26+00:00June 22nd, 2022|
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