Another Month of Growth Shows Promise for 2012 Manufacturing
Thus far into the new year, the economy has seen promising growth. Factories have been fulfilling more orders, retailers have been making more sales and more jobs have been created as a result. On Wednesday morning, the Federal Reserve reported all 12 of the banking districts have seen growth all through January as well as during the first half of February.
Thanks to the positive economic growth the manufacturing industry has also seen a rise in output. Metal producers, auto manufacturers and steel makers have all reported progress since the beginning of 2012. While some manufacturers were concerned with the state of Europe’s economy, it seems that it has not greatly affect production. On average, employers have added nearly 200,000 jobs per month since November of last year which has resulted in a steady decrease in the unemployment rate over the past five consecutive months. In January the unemployment rate reached the low of 8.3 percent.
Economists and manufacturing managers alike predict another positive month for the economy and industrial production. More jobs result in more consumer spending which ultimately increases factory orders and output. On Wednesday, the Commerce Department reported that incomes across the nation increased in the second half of 2011 by much more than was originally expected.
Another month of continued economic growth and job development allows manufacturers to once again feel confident in hiring and training. Perhaps just as important as finding a qualified employee is the industrial skills training implemented to train those new hires as well as the existing workforce of any given plant. Technology is constantly evolving and in order for manufacturers to effectively and efficiently produce enough output to meet the growing consumer demand, employees must possess the proper industrial skills. ITC Learning provides industrial skills training to help improve your bottom line. With well-maintained equipment and a well-educated staff your plant floor is more likely to run smoothly. ITC Learning offers specifically designed courseware for process training, maintenance training, boiler training, hydraulic training and much more. All ITC Learning courseware has undergone a rigorous SME review to ensure content accuracy and guarantee your industrial training is the best available.
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