When the Bureau of Labor Statistics (BLS) releases its monthly manufacturing job numbers, most people following the markets pay attention. Why? Because like the canary in the coal mine, slowing or declining manufacturing jobs have historically been an indicator of a weakening economy.
In 2016, the BLS has reported relatively flat numbers in the manufacturing sector. While June added some jobs, previous months lost many more.
Although recent trends show that traditional manufacturing jobs appear to be going away, Deloitte is still projecting America to be the most competitive manufacturing economy in the world by 2020, even surpassing China.
So, how is this possible considering we’re losing industrial job positions each month?
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