News and Analysis
VisualCapitalist.com recently published an infographic showing which states were impacted most by COVID-19 shutdowns and stay-at-home orders during the early months of the pandemic. Between March and June 2020, U.S. GDP fell by 31.4% from in Q1. Ohio experienced a GDP decline of 33%.
From Q1 to Q2, Michigan saw the biggest decline in durable goods production (-7.57%), while Indiana saw the biggest decline in non-durable goods manufacturing (2.65%). 10/13/2020
The latest Ohio Leading Indicators report, compiled by the Department of Job and Family Services, shows that Ohio’s average weekly manufacturing hours increased to 41.4 in August. Manufacturing production, while still well below its recent apex of late 2018, rebounded to 2016 levels.
If August’s employment rebound continues through the year, the state’s employment rate is projected to grow at an annual rate of 5.82% for the next six months, according to the report. Job growth projections for Ohio’s metropolitan statistical areas (MSAs) are as follows:
- Cleveland-Elyria MSA at 0.98%;
- Youngstown-Warren-Boardman MSA at 1.16%;
- Dayton MSA at 2.05%;
- Akron MSA at 2.10%;
- Canton-Massillon MSA at 2.61%;
- Columbus MSA at 3.51%; and
- Cincinnati MSA at 3.71%.
The Toledo MSA has a projected negative annual growth rate of -0.15%. 10/5/2020
Fall is the perfect time for manufacturers and their families to get out and explore their state, even in the midst of COVID-19. TourismOhio has published this list of 100 things to do in Ohio. From visiting one of 75 state parks, to trying out local food and beverage shops, to finding the perfect pumpkin patch, this is an impressive list of Ohio attractions that you’ll want to share with co-workers and employees. 10/5/2020
Election Day is only a month away. Early in-person voting begins next week. And the deadline to register or update your voter information is Monday, Oct. 5.
To help manufacturers get out the vote, the OMA created its Election 2020 website — full of Ohio-specific resources, including:
- Information to vote early, absentee, or in person.
- Information on state and federal candidates, as well as a listing of OMA-PAC-endorsed candidates;
- OMA policy priorities; and
- The Manufacturing Voter Center, a non-partisan voter resources guide that can be shared with employees. (Here’s a flyer you can distribute to employees.)
Election season is here. Make your voice heard! 10/2/2020
This week’s ADP National Employment report showed that U.S. private companies added 749,000 jobs in September, beating Wall Street estimates. As noted by the National Association of Manufacturers’ chief economist Chad Moutray, manufacturing employment jumped by 130,000 in September, increasing for the fifth straight month.
Meanwhile, the manufacturing index from the Institute for Supply Management came in below expectations in September, but remained in positive territory at 55.4%. The Manufacturing Outlook Index published by OMA Connections Partner RSM rose for the second month in a row. 9/30/2020
The OMA has added more articles to its growing list of news stories spotlighting Ohio manufacturers serving their communities, state, and nation by producing or donating protective equipment and supplies to fight COVID-19. These stories, which have been shared on OMA social media, show that Ohio manufacturers continue to lead the way during the pandemic. 10/1/2020
Many manufacturers are taking a hard look at their supply chains to mitigate the risk of future disruptions. At noon (ET) Wednesday, Oct. 21, OMA Connections Partner Clark Schaefer Hackett will host a free webinar titled, “Rethinking Your Supply Chain – Lessons Learned From COVID-19.”
Key topics will include strategies for reducing supply chain risk, including reshoring, near-shoring, and diversification. 9/30/2020
Wondering about the economic outlook for the U.S. and Canadian economies? OMA Connections Partner GBQ Partners will host a free webinar on Thursday, Oct. 29 at 11 a.m. (ET) to examine the North American economy’s greatest risks, possible impacts if COVID-19 makes a significant return, and what to expect through the remainder of 2020 and into 2021. 9/30/2020
Manufacturers Marketplace — made possible by a collaboration of the National Association of Manufacturers and state manufacturing associations, including the OMA — is a searchable database that helps U.S. manufacturers find and do business with one another.
Manufacturers Marketplace is now available for free for life to OMA members if they create an account today, MFG Day, Oct. 2. Just click on “Create an Account” and use “MFGDay2020” as the password. Email the Marketplace’s David Smart for questions. 10/2/2020
October is National Cybersecurity Awareness Month. The U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence this week issued a pair of advisories to assist in combating ransomware scams and attacks, which continue to increase in size and scope. Additional resources can be found here.
To boost cybersecurity awareness, OMA Connections Partner CliftonLarsonAllen is hosting a series of webinars that will cover risks, trends, IT security attack and defense, and mitigation and response techniques. 10/1/2020