Manufacturing jobs increase in latest report
U.S. employers added 227,000 jobs in February to complete three of the best months of hiring since the 2008 recession began. Although the total unemployment rate was unchanged, partly due to the influx of new people into the work force, certain sectors like manufacturing boosted employment during the month, The Associated Press reported.
According to the news outlet, along with the number of jobs that were added during February, revisions to older figures showed that hiring in December and January was better than first thought.
The AP reported that last month's hiring was broad-based and in both high-paying and lower-paying sectors. Manufacturing, mining, and professional services all added a significant number of jobs.
The Pittsburgh Post-Gazette reported that manufacturing gained 31,100 jobs during February, and employers who produce primary metals such as steel added 1,200 new positions while businesses that fabricate the metal into products created roughly 11,400 jobs.
Potential new tax breaks for the sector have recently been talked about by candidates from both sides of the aisle in buildup to the upcoming election, but certain states have already benefited from a taxation code that favors the manufacturing industry and the business strategy for the associated companies.
The Pennsylvania Independent reported that while Pennsylvania may be ranked at the bottom of the country in terms of overall tax burden for its companies, manufacturers enjoy a rate that is much lower than the national average.
According to the news source, for the manufacturing industry, Pennsylvania's tax rate is among the friendliest in the nation, as it offers companies that manufacturer goods a burden of only 6.1 percent, which remains 52 percent below the national average and puts the state at fifth overall in terms of taxation.
The state's manufacturing sector benefits from the high corporate income taxes for other companies, along with its sales tax exemption for manufacturing machinery.
The Independent reported that manufacturers have noted that the state, under Governor Tom Corbett, has held to its mission of being fiscally responsible, giving a boost to businesses.
"Fiscal discipline is the first and most important step toward returning Pennsylvania to stronger economic growth and a better competitive position relative to other states," David Taylor, executive director of the Pennsylvania Manufacturers Association, a trade organization representing the manufacturing sector in Pennsylvania’s public policy process, said in a statement.