Week 24 in Manufacturing News

Unexpected Drop in U.S. Unemployment Helps Markets Rally; Investment plan could create up to 150,000 jobs, say unions; Why Automation Is Crucial To Manufacturing Resiliency.

  • Unemployment fell to 13.3 percent in May, with a gain of 2.5 million jobs.
  • Stocks surge as jobs report defies expectations. The Nasdaq is just shy of a record.
  • The rehiring bonanza at restaurants helped to lift payrolls.
  • Joseph Biden criticizes President Trump’s handling of the economy.
  • Consider the economic pain that the unemployment rate leaves out.

Source: The New York Times.

Investment Plan Could Create up to 150,000 Jobs, Say Unions

Up to 150,000 jobs could be created if the Scottish government invested £13bn in new infrastructure projects, a new study has claimed.

The Scottish Trades Union Congress (STUC) research said the posts could be created in areas such as offshore wind and renewables manufacturing.

A further 50,000 jobs could be created in retrofitting buildings to higher standards, the report claims.

Source: BBC.

Why Automation Is Crucial To Manufacturing Resiliency

The economic crisis brought on by Covid-19 has uncovered hidden vulnerabilities in global supply chains. One of the most glaring: a lack of responsiveness and adaptability.

Just as the software industry was dramatically changed by the introduction of software-as-a-service, automation can now be leveraged by essentially hiring a robot. That shifts capital expenditures to operating expenses, minimizing both cost and risk for manufacturers.

Source: Forbes.