Are moves to add jobs to US factory floors a harbinger, or outliers?
Apple, Lenovo, LG Chem, and now Daimler AG have all recently said they plan to add manufacturing jobs in the US. President Obama hopes it's a sign of the times, but economists say it's, at best, a nascent trend.
Recent days have produced a steady drip, drip, drip of good tidings about new jobs on America's factory floors.
Last week, Apple said it is investing $100 million to create new manufacturing jobs in the US, following similar announcements by fellow-electronics makers Hewlett-Packard and Levono Group and battery company LG Chem. On Monday, with President Obama in attendance, Detroit Diesel Corp., which makes heavy-duty diesel powertrains for the commercial truck market, said it would expand its line of transmissions and turbo chargers – investing $128 million and adding jobs to its Detroit-area plant.
“That means more work. That means more jobs and more products stamped with the stamp ‘Made in America,’ ” Mr. Obama said at the Detroit Diesel plant, which is owned by German conglomerate Daimler AG.
This is good news for the communities where the jobs are incoming, but economists caution that manufacturing is not likely to rebound to levels of 20 years ago – at least not anytime soon.
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