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Posted by: Michael Mandel on October 26
Here’s a bit of a good news-bad news chart.
The rate of job cuts for production workers in manufacturing has slowed dramatically in the past few months, as companies start to rebuild inventories.
However, they are still aggressively slicing their nonproduction workers—engineers, managers, sales staff, and the like. Over the last three months, employment of manufacturing nonprod workers is falling at a 7.6% annual pace, compared to a 4.2% pace for production workers.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.