One of the most frustrating things for economists around the world has been the lack of economic growth and job creation. The real estate bust in America has had a cascading effect on the economy. The real estate crash and many market sectors were interrelated, causing economic growth to not only stall, but also decline significantly, leading to massive layoffs.
While there have been some positive signs that the housing and automotive sectors are starting to rebound, job creation has only been moderate. Economic growth needs to accelerate for a substantial amount of job creation to develop.
Some of the latest data regarding manufacturing certainly are not a positive step toward economic growth or job creation.