Manufacturing Renaissance In The Rust BeltPlay
Hiring is up in the rust belt. Could tried and true American manufacturing bring back America’s economy?
After years of downsizing and off-shoring, “American manufacturing” has come to sound like an oxymoron to a lot of Americans.
But the buzz this season is about a manufacturing renaissance. Factories opening, reopening. New production lines. More work.
While the overall U.S. economy grew 1.9 percent in the first quarter, manufacturing grew more than 9 percent.
A “shining star” they’re calling it. Of course, that growth is from a battered baseline. And the wages now? Way down. But still…
This hour On Point: the buzz, again, around American manufacturing, and what’s really going on.
- Tom Ashbrook
Peter Coy, Economics editor and senior writer for Bloomberg Businessweek
Susan Helper, professor of economics at the Weatherhead School of Management at Case Western Reserve University
Thomas Runiewicz, economist with the U.S. industry practice of IHS Global Insight
Ben Suarez, founder and chief executive of Suarez Corporation Industries.
This program aired on May 24, 2011.