Low Demand for Manufacturing Jobs Suggests Slow Economic Recovery

Manufacturing Sector Failed to Meet Expectations

Summary: The manufacturing sector failed to meet analyst expectations as unemployment rate continue spike up due to low demand.

Stocks also continue to plummet and analysts said that the problem will continue to push through even if the recovery process of the economy has started.

A new data from the US manufacturing sector showed that rise in unemployment and low demand for new products will put economic recovery process in slow pace in the wake of the worst recession. Aside from this, stock numbers were also in an all-time low.

With the recent turn out of the economy, many in the business sector expressed concerns of struggling recovery process, which was even lower that what analysts have earlier forecasted.

Moody’s Economy.com chief economist Mark Zandi said that the economy is doing exactly what most experts predicted, saying that it is “moving in a halting way”.

Based on the data from the US Labor Department, first-time jobless claims have risen significantly into an alarming rate with a seasonally adjusted 551, 000.

“The number only suggests that the labor sector remains reluctant to hire new employees,” Zandi said.

Economist predicted that some 180, 000 jobs will be lost in September with the unemployment rate expected to rise to 9.8 percent from 9.7.

The documents also showed that some factories are finding it hard to have a huge rebound after months of being downed by the recession. Recent activities did not make much help either.

Low Demand for Manufacturing Jobs Suggests Slow Economic Recovery

Manufacturing Sector Failed to Meet Expectations

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