While the U.S. unemployment rate hangs high above 8%, manufacturing is one sector of the American economy that has seen substantial jobs growth over the last few years.
President Barack Obama said as much during his interview with 60 Minutes Sunday:
"The month I was sworn into office, we were losing eight hundred thousand jobs a month. We ultimately would lose nine million jobs during the height of that Great Recession. We came in, made some tough decisions....
And because of that we've now had thirty months of job growth, four and a half million new jobs, half a million jobs in manufacturing alone."
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According to analysis by the Boston Consulting Group, manufacturing and supporting jobs will continue to grow by 5 million over the next decade. The firm previously projected a gain of 2 to 3 million jobs by 2020.
Hal Sirkin, a BCG
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