10/14/2019

Manufacturing confidence at all-time high despite workforce shortage

Optimism among U.S. manufacturers is soaring as the Republican-led tax cuts help fuel a white-hot economy with the lowest unemployment numbers in over a decade, but a significant labor shortage is undermining the gains, a new report shows.

Nearly 93 percent of manufacturers are projecting further expansion for their businesses, and positive sentiment among smaller companies is up to 91.3 percent, according to a quarterly survey from the National Association of Manufacturers. It’s one of the best outlooks the group has seen in the 20 years it has conducted the survey among its 14,000 members.

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