“We are losing all of our manufacturers and manufacturing jobs!” You can’t imagine the number of times that I hear that every month. It grates on me to hear such statements. I blame their misinformation upon our news media and a few pundits who prefer to prey upon fears rather than look at facts.
I patiently, and sometimes not so patiently, respond that we are today producing more manufactured goods than at any time in the history of the USA. I also add that we have more people working in the manufacturing of automobiles than at any time in history. I hope that I’m having a small impact, but based upon the sometimes dumbfounded look on their faces, I’m not so sure. Here’s some new ammunition that I’ll be able to use.
Data from the Federal Reserve Bank of Minneapolis shows how exports of manufacturing goods are soaring in the USA. Look at the graphic which shows the percentage increase in manufactured goods exported on a state by state basis.
The largest states for manufactured exports are (in order): TX, CA, NY, WA, IL, MI, OH, FL, PA and NJ. All showed gains in 2005, 2006 and in the first quarter of 2007. The states that showed a decrease in 2006 with state rank in parenthesis were: GA (15); SC (24); VT (39); WV (43); AK (52) AND HI (54).
U. S. exports grew from $805 billion in 2005 to $923 billion in 2006, a gain of 14.5%. In the first quarter of 2007 they were up another 9.6% when compared to the first quarter of 2006.
I love manufacturers and the jobs that they create. There are many that are growing and prospering in today’s economy.