Manufacturing Flatlines in October: AAM Statement
The Department of Labor reported this morning that America's manufacturing sector flatlined in October, creating no jobs last month.
The #AAMeter, which tracks President Obama's promise to create 1 million new manufacturing jobs in his second term, remained at +370,000 jobs.
"Underneath the euphoria over a good topline employment number is this fact: Manufacturing hasn't gained a single net job since January.
"That's terrible news for our economy. The effects of China's industrial overcapacity can be seen in waves of layoffs in American steel, aluminum, and other manufacturing sectors. This weakness in factory hiring comes at a very inconvenient time for the proponents of the TPP, which analysts predicted will widen our record manufacturing trade deficit."