Today I’d like to welcome Mike Shedlock aka. “Mish”. He is a registered investment advisor representative for SitkaPacific Capital Management. He has graciously allowed me to reprint his article that answers the question “Can we expect more factory jobs out of the current expansion?” He includes some compelling arguments on why unemployment isn’t falling. Tim McMahon~editor
The latest ISM reports show Factories grow for 17th straight month in December.
Manufacturers produced more goods and booked more orders last month, leading to the fastest growth in factory activity since May.
The Institute for Supply Management said Monday that its index of manufacturing activity rose to 57 in December from 56.6 in the previous month. Any reading over 50 indicates growth. The latest is well above the recession’s low of 32.5, hit in December 2008. But it’s below the reading of 60.4 in April, the highest level since June 2004.
The report shows that manufacturers carried considerable momentum into the new year. Automakers, computer and electronics companies, and industrial machinery firms showed particular strength, [Read more…] about Factories Expand 17 Consecutive Months, Jobs Don’t