Manufacturing job loss for 2008: 793,000
Overall job loss hits 2.4 million as stimulus package gets criticism
Manufacturing job loss hit 793,000 in 2008, the worst year since the Great Depression. Unemployment hit 7.2% in December , and many more people were being underemployed as the year-long recession deepened as the Obama Administration prepared to take over on Jan. 20.
A vote on Obama's proposed $1 trillion economic stiumulus package is expected shortly after the inauguration, and while some manufacturing leaders are calling for swift action, there has been criticism from within the Democratic Party over the stimulus plan.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey