Manufacturing, Jobs Reports Add Up to More Bad News
Published: Thursday, 21 Jun 2012 | 9:22 AM ET
U.S manufacturing grew in June at its slowest pace in 11 months and hiring in the sector slowed as overseas demand for U.S. products waned, an industry survey showed on Thursday.
The number of Americans filing new claims for unemployment benefits was also little changed last week, according to the U.S. Labor Department.
Financial information firm Markit said its U.S. "flash" manufacturing Purchasing Managers Index fell to 52.9 from 54.0 in May. The June reading was the lowest since last July although it stayed above 50, indicating expansion in activity.
For the second straight month, weaker demand from Europe and large emerging markets such as China dented sales. Markit said U.S. manufacturers reported the second largest decline in new export orders since September 2009.
More: http://www.cnbc.com/id/47902094
KansDem
(28,498 posts)The wealthy didn't invest in the USA like they were supposed to. They took their new found swag and invested in other countries, then hid their profits in secret, off-shore tax havens.
Time to return to pre-Reagan tax rates.
Why is this so difficult for Americans to understand?
AnotherMcIntosh
(11,064 posts)KansDem
(28,498 posts)The Americans who permit this to happen, election after election.
It's time to change the tax code to pre-Reagan rates.
Also, eliminate "Citizens United" so it can't happen again...
julian09
(1,435 posts)In construction jobs should be up, but congress is sitting on jobs bills, to obstruct any progress. Banks would rather gamble, than make loans and corporations won't hire because they only have to wait another five months before election.
Then when Rmoney wins banks will lend and corps will hire, pollute, get tax breaks, keep wages low etc.
AnotherMcIntosh
(11,064 posts)agreement should be discontinued.
The pending "free-trade" agreement is already being called the NAFTA of the Pacific.
bvar22
(39,909 posts)It is not possible to be Pro-UNION and Pro-American Working Class,
and support Free Trade at the same time.
The two positions are mutually exclusive.
Until the USA has Publicly Owned, Government Administered Health Insurance,
and the rest of the World has Worker Protections/Benefits and Environmental Protections,
"Free Trade" WILL result in a Race to the Bottom.
QED: NAFTA
This is NOT Rocket Science.