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Manufacturing Jobs for America Update - March 2014

Manufacturing Jobs for America Update - March 2014

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Monthly newsletter from Manufacturing Jobs for America and the Office of U.S. Senator Chris Coons (D-Del.).
Monthly newsletter from Manufacturing Jobs for America and the Office of U.S. Senator Chris Coons (D-Del.).

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Published by: U.S. Senator Chris Coons on Mar 31, 2014
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04/09/2014

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MANUFACTURING UPDATE
- MARCH 2014 - 1. LATEST NEWS
==================================
Hearing -- Aviation Competitiveness
Sen. Cantwell (D-WA) held a hearing of Senate Subcommittee on Aviation Operations, Safety, and Security on March 13. The hearing focused on challenges facing the U.S. aviation industry, and what steps the U.S. can take to maintain its leadership in the global market and create American jobs. Sen. Cantwell called for five steps to boost U.S. competitiveness: 1.
 
Increase investment in STEM education and apprenticeship programs to ensure a robust supply of skilled workers; 2.
 
Use the WTO to challenge unfair subsidies provided by foreign governments; 3.
 
Continue export financing through the Export-Import Bank; 4.
 
Modernize the nation’s air traffic control system by implementing the NextGen satellite-based system; 5.
 
Invest in R&D for composite materials. Representatives of Aerospace Industries Association, Airlines for America, the AFL-CIO, and Boeing testified.
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News -- Franken tours E.J. Ajax Metal Forming Solutions
Sen. Franken recently toured E.J. Ajax Metal Forming Solutions, where he spoke with representatives from local technical colleges, local business, and HIRED, a Twin Cities provider of  job skills training for disadvantaged job seekers.
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News -- Sen Coons and Rep Kelly meet with small manufacturers
Members of the American Small Manufacturers Coalition came to Congress to meet with Sen Coons (D-DE) and Rep Kelly (R-PA) to discuss the Manufacturing Extension Partnership on March 4
th
 and 5
th
.
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News -- DuPont hosts engineering events to inspire young people
DuPont recently hosted two local events to highlight the impact engineers can have on society and encourage young people to consider the STEM professions. During DuPont’s sponsorship of national Engineers Week, the company invited middle school students to present a model of a city they had designed during a nationwide competition called Future Cities.
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Interview -- The importance of skills training
Michael Tamasi, CEO of AccuRounds, recently spoke with Fox Business about what is needed to boost hiring, highlighting the importance of skills training.
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News -- Precision Plus hosts student manufacturing day
Mike Reader, CEO of Precision Plus in Elkhorn, WI and a member of the Precision Machined Products Association (PMPA) recently produced a student Manufacturing Day Panel at Elkhorn Area High School. Over 200 students from five area schools listened to local manufacturing companies describe the opportunities and their personal insights on local manufacturing. 2.7 million U.S. manufacturing workers are set to retire in the next 3-5 years, and there is a huge deficit in the number of young people applying for jobs in manufacturing.
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Report -- Ontario Made: Rethinking Manufacturing in the 21
st
 Century
A new paper by the University of Toronto examining Ontario’s manufacturing sector provides useful international comparisons for U.S. policymakers. The authors recommend a focus on advanced manufacturing through a focus on investments in skills, R&D, equipment, and information technology.
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Report -- What jobs are being offshored, and where are they going?
A new working paper from economists at UC Berkley and MIT used new data to look at the type of jobs that are being offshored, and where those jobs are going. The paper finds very few companies offshore their core competencies, but that large manufacturers tend to do so at a significantly higher rate than other sectors. The majority of offshoring tends to go to locations with costs comparable to the U.S., contrary to popular perception.
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Report -- Why you should care about the federal budget
A blog post from Robert Atkinson of the Information Technology & Innovation Foundation looks at the implications of the President’s Budget for American manufacturers. The blog post finds that the budget contained positives, such as funding for NNMI, and shortcomings, such as slower growth in R&D funding.
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Report -- Assessing U.S. corporate tax reform in an age of global competition
A report from the Information Technology & Innovation Foundation describes the impact of the corporate income tax on the economy and analyzes the major issues involved in creating tax reform that both increases economic growth and reduces the burden of federal debt.
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2. SECTOR DATA
==================================
Purchasing Managers’ Index (PMI)
February PMI was 53.2, an increase of 1.9 from January’s reading. The PMI is a widely watched measure of aggregate manufacturing strength. PMI is based on a survey that asks purchasing managers if Inventories, Supplier Deliveries, Employment, Production, and New Orders have gone up or down that month. Results above 50 indicate growth. For February, Inventories read 52.5 (+1.9 on January), Supplier Deliveries read 58.5 (+4.2), Employment read 52.3 (unchanged), Production read 48.2 (-6.6), and New orders read 54.5 (+3.3). This data is in chart form below. March figures will be released on Apr. 1, 2014.
54.548.252.358.552.553.2New ordersProductionEmploymentSupplierdeliveriesInventoriesPMIChange on prior month+1.9+8.5+4.20.0-6.6+3.3
 
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