Summary
New Jersey lost 3,400 manufacturing jobs last year, and despite the fewest job losses in that sector in 10 years, area manufacturers are not ready to celebrate those employment figures.
That reluctance to look for a silver lining, even as some industry observers predict a small rebounding in manufacturing hires for 2011, follows two decades when New Jersey shed 253,000 manufacturing jobs, according to the U.S. Bureau of Labor Statistics. The survivors, mostly smaller shops that produce lower quantities of higher-value goods, say they do not trust talk of an industry recovery, and therefore, will not bring on new hires.See the full content of this document
Extract
Finding the Bottom?
"We're not seeing the recovery we expected," said Robert Schmidt, owner of machine tool maker F.P. Schmidt Manufacturing Co. in South Hackensack. "Washington is saying things are looking up, the recession is over and the stock market is up. We see no cause for it."
New Jersey manufacturers last year reduced their workforce by 1.3 percent, from 259,000 jobs in January to...See the full content of this document
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