February 24, 2004

Jobs Picture

There's good and bad economic news:

U.S. factory production will increase this year at the fastest pace since 1999, the National Association of Manufacturers forecast Monday.

But some 1.4 million factory jobs lost since 2001 are not coming back, even as many companies begin to hire for the first time in four years, said Jerry Jasinowski, president of the 14,000-member association.

But with more U.S. companies counting on exports, Jasinowski warned that the government should not repeal international trade agreements.

"It would be foolhardy to think that we could cut ourselves off from the rest of the world and create jobs at home," he said. "In general, open trade is better for the U.S. economy."

To get a better picture, we need to know the status of business creation.

"Factory Output is Headed Up; Jobs Aren't"