Wishing You Success This Month...
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Our job here at RIMA is to give you, the manufacturers, the ability and resources to continue and compete and grow among others in the industry. We are excited to share a number of upcoming events and stories with you!
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ADP: Private Employers Added 241,000 Jobs in March
Reuters (4/4, Mutikani) reports that "US private payrolls increased solidly in March as hiring rose across the board, pointing to a robust labor market that continues to underpin economic growth," according to the most recent ADP National Employment Report. The report states that "private payrolls increased by 241,000 jobs in March after rising 246,000 in February," and adds that "manufacturers added 29,000 jobs to their payrolls" in March.
Click on the image to learn more!
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Upcoming Events!
May 9, 2018
June 4, 2018
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Top Stories of the Month...
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- U.S. factories expanded at a robust yet slightly slower pace in March and tariffs helped drive a measure of raw-material prices to an almost seven-year high, data from the Institute for Supply Management.
- Factory index eased to 59.3 from 60.8. The measure of new orders fell to 61.9, the lowest since August from 64.2 and the Prices-paid index rose for a fourth straight month to 78.1, the highest since April 2011, from 74.2. The employment gauge declined to 57.3 from 59.7
- A measure of customer inventories dropped to the lowest since July 2011 and a gauge of backlogs held at an almost 14-year high.
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- Dixon Value partnered with the Maryland Manufacturing Extension Partnership to implement a CNC machinist apprenticeship
- There were 5.8 million job openings at the beginning of 2018. This represents a substantial increase over employment opportunities during the Great Recession (2007-2013), yet American employers increasingly say they can't find workers with the skills needed to fill available jobs.
- A recent poll conducted by Adecco found that the skills gap impacts U.S. manufacturing more than any other industry.
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National Association of Manufacturers News...
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President Trump Touts Infrastructure Investment In Ohio Speech; NAM's Timmons Says Plan Will "Supercharge" Manufacturing
Fox Business reports that "President Donald Trump was in Ohio on Thursday to tout his massive $1.5 trillion infrastructure overhaul and the effects it could have on the growing US economy.
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White House Cites NAM's Support For Infrastructure Investment
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On March 30, The White House announced comments from congressional and industry leaders in response to President Trump's announcement of a new infrastructure investment initiative in a speech in Richfield, Ohio last week. The release quoted NAM President Timmons, saying "Like tax reform, a significant investment in our nation's infrastructure has the power to supercharge manufacturing in America by improving our competitiveness while also making our families and communities safer.
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NAM's Timmons Cautions Administration On Tariffs
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Chief Executive reports, in an article reporting on the possibility of new US tariffs against China, that "Jay Timmons, President and CEO of the National Association of Manufactures, said in a statement that while China's unfair practices remain a threat to US manufacturer's competitiveness, any actions must be 'well crafted.'"
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The labor market has tightened significantly as a result of strength in the manufacturing sector and larger macroeconomy. For instance, there were 427,000 manufacturing job opening in January, up strongly from 374,000 in December. That was the best number since September's reading which was the strongest since January 2001. The manufacturing sector hired 360,000 workers in January, just shy of the 364,000 employees hired in August.
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President Trump Highlights NAM Survey Results from Rose Garden
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- President Trump highlighted the results of the latest NAM's Manufacturers' Outlook Survey and declared the NAM "a great organization."
- The survey revealed that manufacturers optimism remains at near record-high levels, in large part due to tax reform and the regulatory relief achieved in 2017.
- Optimism among small manufacturers registered the highest level ever recorded.
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- In our Thomas Net Index Report, we've covered sourcing activity trends driven by everything including truck driver shortages, the eCommerce landscape, sustainable packaging, steel tariffs, and more.
- The top five products by sourcing activity volume at Thomasnet.com were Steel, Printed Circuit Boards, Fasteners, Corrugated Boxes, and Food Products
- The top five services sourced by volume on our platform were CNC Machining, Machining, Metal Stamping, Contract Manufacturing, and Plastic Injection Molding.
- The categories that saw the highest increase in sourcing activity were Square and Rectangular Tubing, followed by Iron Cstings, Mixers, Stainless Steel Bars, and Containers.
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Other Manufacturing News...
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Labor Department: Manufacturers Added "Robust" 22,000 Jobs in March
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Reuters reported that the Labor Department announced that the U.S. economy added 103,000 jobs in March, adding that the job numbers were accompanied by wage growth that, many economists believe, underscores the case for the Federal Reserve to increase interest rates this year.
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Institute for Supply Management (ISM)
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The ISM reported that manufacturing activity continued to expand solidly in March, even as it pulled back form the best reading since May 2004 in February. The ISM Manufacturing Purchasing Managers' Index declined to 59.3 in March, but the data continue to indicate strength in the sector overall.
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US Factory Jobs Power Ahead
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- A total of 12.6 million people are employed in the sector, the most since 2008.
- President Trump argues that he's getting tough on China's trade practices to keep domestic manufacturers from dying. One hole in that argument: American factories are coming back to life on their own.
- U.S. manufacturers added 22,000 jobs in March
- A total of 12.6 million people are employed in the sector, the most since 2008. Steady hiring during this economic expansion has accelerated since Trump's election as businesses grew increasingly optimistic and global growth improved.
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- The state's Wavemaker Fellowship program that provides recent graduates working in science, technology, engineering and mathematics fields with student loan reimbursements is now accepting applications for the program's third round.
- The fellowship awards STEM and design graduates who are working in Rhode Island with a refundable tax credit worth up to $6,000 per year for up to four years.
- This year, the program is allowing graduating seniors who have a pending job offer to apply to the program
- Governor Raimondo said in a statement "we are taking important steps to keep talented people here and attract others to starts their careers in Rhode Island.
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This Month's Member in the Spotlight is...
Miniature Casting Corporation
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Miniature Casting is a manufacturer of precision zinc die castings, specializing in small, tight tolerance parts, ranging from 1 gram to 1 pound, in high or low volume production runs. In-house tool design, a mix of conventional and proprietary, custom built, 4-slide and 5-slide die casting equipment, enable MCC to produce complex zinc die castings in a cost effective and timely fashion. MCC’s quality management system is ISO 9001:2015 certified.
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A direct and compelling headline
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- National Marker is a proud supporter of The Autism Project, a local RI foundation that provides support, training, and programming to children and adults with an Autism Spectrum Disorder, their families, and those who work with them. As an organization, we have many friends and family members who are touched by Autism, and it is our mission to do what we can to help improve the lives of people with an Autism Spectrum Disorder.
- National Marker is so excited to participate in the 16th annual Image Walk and Family Fun Day for Autism on Sunday, April 29th! Due to your immense generosity, we have raised over $75,000 in the last five years for this amazing cause. NMC was the number one fundraiser in the state of RI for the second year in a row, raising $24,000! This year, we hope to surpass that, will you help us exceed our goal for $25,000?
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Interested in Membership?
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We Advocate for Manufacturing
- Let RIMA keep you informed on the local, state and federal levels critical issues
- Ensure your concerns are being raised with government leaders of our state
We Promote Economic Improvement
- We offer networking opportunities to our members
- We promote and support a more competitive business climate
- We collaborate with likeminded organizational partners to amplify our cross-industry interests throughout the state
We Help Solve Problems
- A clearinghouse of information:
- We can connect you with local suppliers and potential customers
- We can elevate your legislative and regulatory concerns to public officials
We Support Education and Workforce Development
- RIMA's partner, We Make RI, develops career, education programs to help companies identify and secure talented workers through certified apprentice programs
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