No new manufacturing jobs - survey
September 4th, 2009
U.S. manufacturers will not add jobs in a significant manner in the near term despite higher demand reviving production, according to the Institute for Supply Management.
Manufacturing job growth will not occur "any time soon," even as the sector showed expansion for the first time in more than 1-1/2 years in August, said Norbert Ore, chairman of ISM manufacturing business survey committee, Tuesday.
Ore spoke during a conference call after the release of the group’s monthly factory data.
Its closely-watch manufacturing index rose to 52.9 in August from 48.9 in July. This compares with a median forecast of 50.5.
A reading above 50 signals expansion in the U.S. factory sector.
Filed under: business by Forest