Jan 4th, 2009 · The manufacturing sector of the U.S. economy hit a new all time low on Friday. The Institute for Supply Management, a trade group for purchasing executives, reports that manufacturing activity in all industry sectors is at the lowest level in 28 years — another measure of the current recession.
Jan 3rd, 2009 · The dispiriting results of the ISM manufacturing index — a carefully watched economic indicator that comes out at the start of each month — were released Friday. Bernie Baumohl from the Economic Outlook Group talks about what it means.
Dec 23rd, 2008 · For decades, U.S. automakers have been paying more for the same hour of work than foreign manufacturers with plants in the U.S. If General Motors and Chrysler fail to cut those costs, they face bankruptcy, President Bush said in extending $17.4 billion in loans to Detroit.
Dec 17th, 2008 · Ailing automaker Chrysler is shutting down all its manufacturing operations for at least a month. All three Detroit automakers routinely close for a couple of weeks around Christmas, but Chrysler says it is extending the shutdown because there isn't enough demand for vehicles.
Dec 17th, 2008 · Chrysler says it will close all 30 of its manufacturing plants for a month starting Friday. The company needs to match production to slowing demand and conserve cash. Tighter credit markets are keeping would-be buyers away from their showrooms, Chrysler says.
Dec 9th, 2008 · The tide of migrant Chinese workers is starting to show a permanent shift toward inland, non-factory jobs as the flagging economy continues to force manufacturing shutdowns. An influx of new, skilled labor combined with dwindling numbers of jobs is forcing laborers to return home.
Dec 8th, 2008 · Congress is in session this week to deal with the economic crisis in the car manufacturing industry. Over the weekend, President-elect Barack Obama gave his support to congressional action to provide relief for the auto industry. Mr. Obama has also been very busy on other policy and personnel issues.
Dec 5th, 2008 · It's been 34 years since employers slashed this many jobs. The Labor Department reports that in November, employers lost 533,000 jobs. The unemployment rate stands at 6.7 percent. The pain was widespread but manufacturing took one of the hardest hits. In services, auto dealers slashed nearly 25,000 jobs.