My work load did not permit me to post a new blog on Sunday, so I am re-posting an earlier one. I promise not to do this too often, so please bear with me. Besides, this particular blog just might be worth reading a second time.
In his State of the Union address last week, President Barack Obama spoke in laudatory terms of “a manufacturing sector that’s adding jobs for the first time since the 1990s.”
Well, technically that is true. Manufacturing jobs, after a long and steep decline, have grown by about 570,000 since early 2010, coming out of what can only be accurately called as the Great Recession.
But what the president didn’t say was that job growth at factories has slowed sharply in the past three years — from 207,000 in 2011, to 154,000 in 2012, to just 77,000 last year, according to the Labor Department.
I think it is safe to say that much of what the president said about a resurgence of the nation’s industrial sector can best characterized by what Peter Tchir of TF Market Advisors would call a big dose of “hopium.”
As a student of American history, I suspect that most presidents, past, present…
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