The good news — U.S. manufacturing activity grew at its fastest pace in the last two decades.
The better news — according to the Reuters story linked above, the employment situation in manufacturing is also improving:
ISM’s jobs component was 55.5, up from 51.0 in November. The employment index was above 50 for the second straight month after being lower 37 straight months — a trend that could have implications for the December payrolls report due on Jan. 9.
Ian Shepherdson, chief U.S. economist with High Frequency Economists, said the current pace of factory expansion “cannot possibly be achieved with the existing manufacturing work force.”
(posted by Daniel Drezner)
The Dish 