The U.S. manufacturing industry is on the rebound according to a recent ISM report.
In an article in the Los Angeles Times, reporter Don Lee wrote:
“After slumping in the spring, a key measure of U.S. factory activity increased for the sixth straight month in November, reaching its highest level in 2 1/2 years.”
Dramatic gains in employment, new orders, and exports drove up the ISM manufacturing index, which rose nearly a full point from 56.4 in October to 57.3 in November – its highest point since April 2011.
This is all very encouraging news for the US economy – especially due to the fact that manufacturing was largely responsible for helping the economy recover after the Great Recession and job recovery of 2010.
Car makers and producers of furniture and food demonstrated some of the strongest results in the October report, and hiring and payroll at factories are expected to rise when the November report is published this Friday.
Optimizing the performance of new and experienced employees alike will be vital to harnessing these gains. Increasing levels of productivity, safety, and loyalty are the ways in which firms can achieve record profits and keep expenses low.
The companies that excel at incentivizing, motivating, rewarding and managing their talent and resources will reap the full benefits of this advantageous period in our nation’s economy.
Written by Kristopher Hewkin