News
Industrial Production Rises in December, Led by Aerospace Gains
Industrial production increased 0.9% in December after rising 0.2% in November. Meanwhile, manufacturing output moved up 0.6%, with a 6.3% gain in the aerospace and miscellaneous transportation equipment index leading the increase. Despite the over-the-month gain, aerospace and miscellaneous transportation equipment output declined 5.6% over the year. At 103.2% of its 2017 average, total industrial […]
Small Manufacturer to Congress: Let Manufacturing Thrive
told Congress this week. What’s going on: Silver—president and owner of third-generation, family-owned precision machining business Ketchie and immediate past chair of the NAM’s Small and Medium Manufacturers Group—testified Tuesday at a House Ways and Means Committee hearing on the necessity of preserving soon-to-expire tax reforms and reinstating provisions that have expired already. “Critical pro-growth …
NAM, GOP: Manufacturers and Families Need Pro-Growth Tax Measures
Mike Crapo (R-ID), whose remarks closed out the press conference, said “piling taxes upon taxes upon taxes” is no way to build a resilient, successful economy. “The way to make us strong is to build a strong, powerful economy, which we get with sensible, pro-growth tax reforms,” he concluded.
NAM Study: Tax Provisions’ Expiration Will Cost U.S. Jobs, Wages, GDP
advocacy blitz following the study’s release. This morning, Courtney Silver, president and owner of North Carolina–based precision machining company Ketchie and immediate past chair of the NAM’s Small and Medium Manufacturers Group, is testifying at a House Ways and Means Committee hearing on the need to make pro-manufacturing TCJA reforms permanent. At 4:30 p.m. EST …
Factory Shipments See Modest Gains as Nondurable Goods Lead
New orders for manufactured goods fell 0.4% in November, after falling for three of the past four months. When excluding transportation, new orders edged up 0.2%. Orders for durable goods dropped -1.2% after rising 0.7% in October. Year to date, durable goods orders are down 1.3%. Nondurable goods ticked up 0.4% in November after increasing […]
U.S. Job Openings Rise to 8.1 Million Despite Manufacturing Weakness
In November, job openings for manufacturing dropped by 56,000 to 412,000, with the decrease entirely concentrated in durable goods. The manufacturing job openings rate fell 0.4% to 3.1% in November and declined from 4.1% the previous year. The rate for durable goods manufacturing decreased from 3.8% to 3.1%, while it stayed the same at 3.0% […]
Mixed Trends in Employment Measures Highlight Workforce Shifts
Nonfarm payroll employment increased by 256,000 in December, blowing past the expectation of 155,000. October’s job gain was revised upward by 7,000 jobs to 43,000, while November’s job gain was revised downward by 15,000 to 212,000. The 12-month average stands at 186,000 job gains per month. The unemployment rate ticked down 0.1% to 4.1%, while […]
Biden Drilling Ban Sets U.S. Back
Associated Press). Why it’s a problem: The moratorium could prove harder for Trump to undo than other 11th-hour moves by Biden. That’s in large part because of the Outer Continental Shelf Lands Act, which gives U.S. presidents the right to block drilling in certain areas but not the right to reinstate it. However, Congress could …
NAM to Biden Treasury: Don’t Finalize Overreaching Rules
told the agency at the end of 2024. In December, the NAM laid out the legal issues endemic to Treasury’s proposals, identifying both substantive and process-related issues that undermine each action. The submission builds on manufacturers’ comments to the agency on the proposals themselves: The NAM said in August told the agency that the related-party …
