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Our experience at “Industrial Workforce Ltd” in Quincy mirrors the national statistics showing expanded hiring in the manufacturing sector.
The Institute for Supply Management (ISM), an industry group of purchasing executives said:
“… the manufacturing sector expanded in February for the seventh straight month while a measure of employment jumped to the highest level in more than five years.
But as inventories stabilize, future growth in manufacturing is going to depend more on demand from companies and consumers.
That growth may be a cautious trend as company cash flow and consumers' incomes remain weak.
The Commerce Department said Monday that personal spending rose by 0.5 percent in January, slightly better than expected. But incomes edged up only 0.1 percent, which was lower than the 0.4 percent gain that economists had expected.
Company and consumer spending is closely watched because it accounts for 70 percent of total economic activity.
With these levels of activity, manufacturers are seemingly willing to hire where they have orders to support higher employment," said Norbert Ore, chair of Institute for Supply Management’s manufacturing survey committee.”
The ISM survey fortifies what we have been saying about demand and cash being the primary drivers for hiring. Companies will hire when they have orders.
We are interested in your opinions.
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