Statement on jobs and trade data released this morning: Alliance for American Manufacturing (AAM)

Fri, 03/09/2012

This morning the latest monthly U.S. jobs figures were issued, as well as the latest international U.S. trade figures.

 

The good news: Another solid month of growth for manufacturing jobs in February, with 31,000 added.

The bad news:    A steep rise in the international U.S. trade deficit in goods and services, which clocked in at $52.6 billion for January 2012, up from $50.4 billion in December 2011.  The U.S. goods deficit with China also climbed dramatically, to $26 billion in January 2012, up from $23.1 billion in December 2011.

Commented Scott Paul, Executive Director, Alliance for American Manufacturing (AAM):

"The growth we have seen in manufacturing jobs since January 2010 makes one thing clear: Those who say that manufacturing jobs aren't coming back are just plain wrong. But, there is trouble on the horizon. Our trade deficit with China is on the rise. That's an indication that while we need to invest in manufacturing here at home, we also need to crack down on China's currency manipulation, subsidies, and mercantilism.

"President Obama has proposed terrific investments in manufacturing through innovation, workforce development, and infrastructure. But the Administration's effort on China is clearly falling short. Within the next five weeks, the Administration will have the opportunity to designate China as a currency manipulator. The Treasury Department should take that step. And, the new Interagency Trade Enforcement Center (ITEC) should launch a case against China on the auto parts sector, which is under attack.

"We can revitalize American manufacturing, as the recent employment data show, but only if there is a level playing field."


@KeepitMadeinUSA on Twitter

  • The U.S. might be a "rising star" in manufacturing, but there's still a lot of work left: http://t.co/b6c8JbKyEX 12 hours 45 min ago
  • If the United States wants to maintain its "rising star" manufacturing status, it must do a few key things: http://t.co/yVBTFyywYF 15 hours 53 min ago
  • That's right: the U.S. is a "rising star" in manufacturing. But there's more to do to increase our competitiveness: http://t.co/yVBTFyywYF 17 hours 8 min ago
  • .@BCGPerspectives says the United States is among the "rising stars" in global manufacturing. Here's our take: http://t.co/yVBTFyywYF 17 hours 52 min ago
  • Great @AP Q&A w/ @papergirlmacy on Factory Man: "When I write about economics, I write from the ground up." http://t.co/WSVs14gt2N 18 hours 38 min ago
  • RT @RachelBSAAM: If you're attending the #NCSLSummit stop by booth 940 for a one of a kind @KeepitMadeinUSA root beer opener. http://t.co/Q… 19 hours 5 min ago
  • "China is among several economies whose manufacturing price advantage over the U.S. is eroding..." http://t.co/BWfE2tsk7l 19 hours 12 min ago
  • But we also hear Titan Gilroy will be grand marshal at the MAVTV 500 IndyCar World Championship next weekend! http://t.co/EXu7cRLieL 19 hours 19 min ago
  • Titan Gilroy is bringing the #MadeinAmerica message to @MAVTV this fall: http://t.co/9hLE5Hko72 19 hours 19 min ago
  • Back to School Shopping? Be sure to check out our #MadeinYourCity Back to School Guide: http://t.co/daOUtQmAqK 1 day 16 hours ago