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Daily Briefing – 153

Manufacturers Struggle to Recruit, Win Over Talent

Even as America struggles to recover from a deep economic decline and the rapid loss of tens of millions of jobs, manufacturing CEOs are still greatly concerned about training, retaining and finding the best people. That’s because, despite the new prospect of double-digit U.S. unemployment stretching into 2021, many firms are still starved for good workers.

There is a growing chorus of other CEOs whose main concerns about the availability and quality of workers seemed to belie the sudden availability of vast new pools of job candidates across most of the country. They worried about labor-related challenges that pre-dated the pandemic and that would still be there afterward, such as hanging on to skilled and experienced workers, training them in new technologies and continuing to build workplace cultures that appeal to demanding new generation.


Governor Cuomo: 0.98 Percent Positive, One Death

Governor Cuomo issued a press release yesterday providing an overview of New York’s COVID-19 tracking data from Sunday, September 20th. The State’s infection rate remains below one percent at 0.98 percent. One New Yorker passed away yesterday, which is the lowest number since the pandemic started. The Governor reiterated that New York will not stop until that number is zero.

Read the press release


Global Trade Returns Faster Than Expected

When the new coronavirus hit earlier this year, international trade in goods suffered the biggest year-over-year drop since the Great Depression. Economists warned of rising protectionism, and some companies said they would reassess overseas supply chains that were vulnerable to unexpected shocks.

Trade remains below pre-pandemic levels. Still, it has snapped back robustly—and had recovered about half of this year’s historic loss by June, according to calculations by the Kiel Institute for the World Economy, a German think tank.

Read more at the WSJ


Manufacturing Economic Report: Real Median Household Income Soared to a New Record in 2019

Real median household income soared to a new record, up 6.8% from $64,324 in 2018 to $68,703 in 2019. The average American working full-time, year-round earned $52,000 in 2019. The official poverty rate was 10.5% in 2019, down for the fourth straight year and down from 11.8% in 2018. For real median household income data by state.
Manufacturing production increased 1.0% in August, easing from the 3.9% gain seen in July but rising for the fourth straight month. Despite recent progress, output in the sector remained 6.7% below the pre-pandemic pace in February. Manufacturing capacity utilization was 70.2% in August, up from 69.5% in July but still down from 75.2% in February.

Monday Economic Report 2020-0921


Democrats Are Holding Out for a Bigger Stimulus Agreement from Trump

House Speaker Nancy Pelosi said Democrats were holding out for a larger stimulus deal from President Donald Trump, who recently prodded Republicans to back a larger package that includes a second round of direct payments.

In an interview published Monday on the “Sway” podcast hosted by the New York Times opinion writer Kara Swisher, the California Democrat blasted the GOP’s opposition to substantial federal spending, charging that Trump is interested only in printing his name on stimulus checks.

Read more at Business Insider


40% of Working Parents Cut Hours or Quit Amid Pandemic

Nearly half of working parents have had to quit or reduce hours because of the pandemic, according to FlexJobs’ survey of than 2,500 parents with children 18 and younger living at home. Forty percent have had to change their employment situation by either voluntarily reducing their hours (25%) or quitting entirely (15%). An additional 5% said their partner has had to either reduce their hours or quit their jobs.

Read more a Human Resource Executive


Last Chance: Your Need For Skilled Workers – Please Complete this Short Survey

The Council of Industry is working with the Manufacturers Alliance of New York and SEMI, an association compromised of electronics manufacturing and the design supply chain to further develop and implement programs that will match the demand of manufacturers for skilled workers with supply of  people seeking meaningful careers.

In order to measure the need for skilled labor, we are asking you to please complete a shore ten (10) minute survey.

The information collected will assess workforce needs, both regionally and statewide. It will provide data necessary to substantiate the Alliance’s requests for new funding opportunities. Once acquired, these funds will be used to meet our objective of providing skilled workers for you and other New York State manufacturers.

Take the Survey (Manufacturers Only Please)  – If link doesn’t work cut and paste into your browser


Schumer Proposes “America LEADS Act” 

Citing China’s present treat to the U.S. economy and national security, U.S. Senate Minority Leader Charles E. Schumer today unveiled the America Labor, Economic competitiveness, Alliances, Democracy and Security (America LEADS) Act . The legislation proposes to provide over $350 billion in new investments nationally, especially to Upstate New York, which will help rebuild the U.S. economy and provide Upstate workers, entrepreneurs, researchers, and manufacturers with the skills and support needed to out-compete China.

“Bold, aggressive action is required to confront the clear and present threat China poses to our economic prosperity and national security,” said Senator Schumer. “We cannot continue to underinvest in our workers, manufacturing communities, science, technological research, and trade enforcement or cede our leadership in the international community and expect to confront this threat.”

America LEADS Act Section-by-Section


 

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