Manufacturing Sheds 9,000 Jobs in September: AAM Statement
The Department of Labor reported this morning that America's manufacturing sector shed 9,000 jobs in September.
But the #AAMeter, which tracks President Obama's promise to create 1 million new manufacturing jobs in his second term, regressed to +370,000 jobs, after negative revisions to August and July's data.
The data marks a disappointing start to National Manufacturing Day, said Alliance for American Manufacturing (AAM) President Scott Paul:
"Today’s dismal jobs report is a reminder of just how far we have to go towards a true recovery in manufacturing.
"Manufacturing lost 9,000 jobs in September, 19,000 jobs in August, and has been losing ground all summer. There is no denying that an overly strong dollar, weakness overseas, foreign currency devaluations, a paucity of public investment in the US, and China’s overproduction are all taking their toll on American industry.
"We’re celebrating Manufacturing Day, and there’s a lot to be proud of in American manufacturing. We can outcompete anyone in the world, on a level playing field. Our lawmakers owe our great makers and workers an equally great manufacturing policy, and a better bargain on trade."