Rising Costs Imposed on Manufacturers Threaten Job Growth, Competitiveness

October 8th, 2009 at 04:00pm Bob Trojan

A new handbook produced in by The Manufacturing Institute, the Manufacturers Alliance/MAPI and the U.S. Department of Commerce, concludes that U.S.  manufacturing is being challenged by increasing costs including corporate taxes, health care and pensions, regulations and energy and tort litigation.

“The facts clearly illustrate that manufacturing is central to America’s economic future,” said Emily Stover DeRocco, president, The Manufacturing Institute. “The U.S. has the largest manufacturing economy in the world, producing $1.6 trillion in goods annually. America’s global market share of manufacturing has held steady at around 22% for 30 years. Productivity growth is higher in manufacturing than in other sectors, holding down inflation and contributing to a higher standard of living.

And one in six U.S. jobs is in or directly tied to manufacturing, which still pays premium wages and benefits. “Manufacturing continues to generate more economic activity per dollar of production than any other business sector in the country. And manufacturing drives innovation by conducting nearly half of all research and development and creating the bulk of technology in the nation,” she added.

See the rest here…  Costs

Entry Filed under: Management, Productivity, Economy