AAM: Despite Recent Gains, U.S. Factory Job Losses Critical
24 Aug, 2020
While the U.S. added 26,000 factory jobs in July, the manufacturing sector is still deep in a hole, having lost about 750,000 jobs over the past six months due to the coronavirus pandemic, with overall unemployment above 10 percent, says the Alliance for American Manufacturing.
In response to recent jobs reports, Alliance for American Manufacturing President Scott Paul said the hundreds of thousands of factory layoffs “are becoming permanent rather than temporary” and larger economic stimulus like federal infrastructure spending remains entirely unaddressed:
"The U.S. stands alone among developed nations with its massive job losses during the pandemic, but Democrats and Republicans can’t even agree on extending basic relief measures such as unemployment insurance. Late last month, we sent policymakers concrete ideas on how to restore confidence in the economy and lay a solid foundation for manufacturing growth. We hope they continue to work towards solutions.”
AAM's recommendation is a full-fledged industrial policy, including a major infrastructure bill, expanded Buy America procurement rules, and a "whole of government" approach to restoring critical manufacturing capacity. These are ideas that will put a lot of people back to work -- especially good ideas when there are 16 million long-term-unemployed people out there.
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