Washington, D.C. – Factories lost 2,000 jobs in July, according to data released by the Bureau of Labor Statistics on Friday.
Alliance for American Manufacturing President Scott Paul said:
“While public investment is boosting many manufacturing sectors, the Federal Reserve’s interest rate hikes have brought net job creation in factories to a halt. It’s clear that the Fed’s inflation-fighting campaign should swiftly come to an end.
“Without the favorable climate for new factory construction made possible by federal investment in infrastructure, clean energy, and semiconductors, manufacturing’s outlook would be decidedly worse.”
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