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What Does Obama’s State of the Union Mean for U.S. Manufacturing?

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Last week President Obama gave the annual State of the Union address. Many topics were talked about including everything from war to income inequality. A main theme of the speech centered on the revitalized success of the industrial sector and the overall economic recovery. The President pointed out that new manufacturing jobs are being added for the first time in decades. This is a good sign for not only the manufacturing industry, but also the country as a whole.

While the number of factory jobs began declining in the 1990s due to production moving overseas, that trend is beginning to reverse. In fact manufacturing is one of the main industries that have seen growth since the Great Recession, with more than half a million jobs added in the last four years. Some analysts have projected further growth this year due to more companies bringing back jobs to this country. Moving manufacturing overseas doesn’t make quite as much sense as it did a decade ago. Labor costs in China are rising while the US is seeing declining energy costs. These forces combined means companies can afford to ramp up production without outsourcing most of the work.

At Marshall Fabrication Machinery Inc., we are proud to offer manufacturing jobs right here in the US. The recent rise in manufacturing jobs is good for the entire industry, and we look forward to seeing more jobs come back to this country each year. For more information about the industrial sector and how it helps America’s economy, keep checking back with us!

Source: http://www.latimes.com/business/money/la-fi-mo-obama-sotu-manufacturing-20140128,0,5303871.story#axzz2rv5rS7yT

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