Best part of U.S. jobs numbers

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This past week the labor figures in the U.S. were released and the news was good. The U.S. economy added about 216,000 jobs in March which was more than expected. This is good news and it needs to continue. Within the 216,000 new jobs, one sector that contributed to the new jobs was even more satisfying to see. That is manufacturing. The manufacturing sector in the U.S. added about 17,000 jobs for March. This is a sector of the economy that was among the hardest hit and has consistently been shedding jobs over the last several years in favour of cheaper labor overseas.

The fact that manufacturing seems to be coming back to the shores of North America suggests a couple of good things. The first is that emerging markets like China are demanding American goods due to the quality and complexity of the goods made on this continent. This is good not only for the manufacturing sector, but also for exports which is essential for long term economic growth. The second thing an uptick in manufacturing jobs in the U.S. suggests is that new and innovative goods are starting be developed. Specifically, I am referring to products in the clean energy industry. Things like advanced batteries, energy efficiency systems and wind turbines are becoming more popular and North America is in a good position to produce them. These products require leading edge technologies and manufacturing processes which advanced countries are best suited for.

Hopefully this trend keeps growing because it will be an important industry for the world over the next 20 years or so. Countries all over the world are and will be demanding these goods and by establishing a strong reputation in North America as the best place to buy these products it will bode well for the economy. This is one type of manufacturing that North America can keep in house without fearing jobs being outsourced to China. It would be a good idea for the governments of the U.S. and Canada to increase investments in this industry.