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Will Improved Industrial Production Support the US Auto Industry?
According to the Federal Reserve’s latest release on August 16, 2016, the US (SPY) industrial production index rose by 0.7% to 104.9 in July 2016, compared to a rise of 0.4% in June. Note that the industrial production index is a leading indicator of a country’s economy. A rise in industrial production is a good sign for an economy. Marketrealist.com
Submitted 4 minutes ago

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All of the US economy's problems come back to one thing
It's all about jobs. The rough patches and disappointments that are plaguing the US economy are all symptoms of one thing, according to Tim Hopper of TIAA Global Asset Management: the slack left in the labor market. Business Insider
Submitted 20 hours ago

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Re-Purposing The Economy Can Help Stem The Tide Of Terror
In the immediate aftermath of World War II the German state of Bavaria wrote a new constitution stating that all economic activity should serve the common good. This was a direct response to the fascism that triggered the war, the Great Depression that gave rise to fascism and the laissez-faire economic and financial system that brought on the Great Depression. But Bavaria was no pioneer in advocating for the common good: promoting general welfare is one of the bases of the United States constitution, stated in the preamble. Today, as we contemplate the terror and violence infecting our world from France, Brussels and Bangladesh to Orlando and Dallas, the parallel with the common good cannot be ignored. Huffington Post
Submitted 20 hours ago

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The Real Reasons Americans Think the Economy Is So Bad
If the economy is recovering, most Americans have missed the memo. Pessimism about the state of the country has already shaped the election season, helping to power insurgencies on the left and right. Between them, Vermont Sen. Bernie Sanders and Donald Trump earned roughly 25 million primary votes, less than a tenth of the population. But the animus that allowed both outsiders to shatter expectations for their candidacies—the sense that elites are gobbling up the economy’s gains and locking everyone else out—runs deeper. Fortune
Submitted 23 hours ago

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Economic Anxiety Is All About Progress, Not Income
The debate continues over whether Donald Trump's blue-collar supporters—virtually of them white—are motivated by economic anxiety or racial anxiety. I think the evidence is pretty clear that racial anxiety plays the larger role, but it's hardly the only role. Economic anxiety is real too. The usual response is that this just can't be true. White men make more money than black men, which means they have less economic anxiety than black men. So why do they support Trump and black men don't? It must be racial animus. Mother Jones
Submitted yesterday

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The Robots Are Coming. Welcome Them
Is it time to bow to our robot overlords? Last week analysts at Morgan Stanley, using data from an Oxford University study, predicted that nearly half of U.S. jobs will be replaced by robots over the next two decades. Ouch. Maybe we should build a wall. Cars that drive themselves? Waiters you don’t need to pay (or tip)? Self-folding clothes? Are we headed toward a post-job future? Signs are certainly there. Abundant Robotics, a company spun from the same Stanford Research Institute that brought us the mouse and networked computing, has begun testing a robot that picks apples. Red Delicious, not iPhones. Napa Valley vineyards are using vision systems to sort grapes. Wall Street Journal
Submitted yesterday

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Will lost manufacturing jobs ever be replaced? (Editorial)
Economics is hard. International trade can be so complicated. And don't even get started on the ever-changing jobs market. Still, much of the nonsense that passes for thought from so many politicians these days – members of both parties are guilty – could be blown out of the water by someone in an introductory economics class. Imagine a presidential candidate who not only waxed nostalgic about the good old days, a time when great numbers of American adults still worked on farms, but who argued further that we should be seeking to return to those times. Masslive.com
Submitted yesterday

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Made in America
What is the most American of the cars made in America? The Toyota Camry, according to a report from cars.com, one of the world’s largest advertisers of vehicles. Cars.com bases its rating on a number of factors, giving high priority to where the parts for vehicles are made, as well as the location of final assembly. Using cars.com’s formula for parts and production, Toyota and Honda models take the top five “mostly made in America” slots. The Chevrolet Traverse comes in at No. 6. Those familiar with U.S. manufacturing likely aren’t surprised. Hutch News
Submitted yesterday

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Why Trump's and Clinton's Promises to Revive Manufacturing Are Cruel
Those jobs aren’t coming back because the world has changed. It’s painful to hear Hillary Clinton and Donald Trump promising voters that they’ll bring back the past. An event scheduled for this week that you’ll probably hear nothing about is a reminder of why such promises are wrong and cruel. Fortune
Submitted yesterday

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Auto slowdown signals narrowing of advanced-sector growth
Hazards ahead: That’s what data about the auto sector are signaling. Economic leaders and workers may want to buckle up. Caution lights are definitely blinking for the auto industry – and the manufacturing sector more generally. This month, Metro’s new update on growth and change in America’s 50 critical advanced industries showed that output growth slowed markedly in the three major auto industries during the last two years while employment growth – still positive – leveled off. Brookings.edu
Submitted yesterday

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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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