If you’re interested in the success of manufacturing in this country, you might want to check out www.manufacturingthefuture.com, the web site for a documentary that the videographer is currently working on. He has interviews with a wide variety of manufacturing experts about the future of manufacturing along with many programs designed to generate interest in manufacturing among high school and college students.

The most recent indicator signaling improvement within the manufacturing sector was a higher than anticipated rise in the Institute for Supply Management’s Purchasing Manager’s Index — its highest reading since April 2006. The Index tracks a variety of indicators, including new orders, inventories and production, to arrive at a number that represents the rate of growth or contraction in the market.

With the impact of the recession still fresh in their minds, many companies are choosing to respond to this new growth using their existing staff rather than adding new employees. One option for addressing this challenge is through the acquisition of new, productivity-enhancing equipment.

New equipment can help a company meet its orders with its existing staff, which in turn can increase profitability and eventually help lead the way toward expanding their business.

As we all know, however, financing new purchases has gotten a lot tougher over the past 18 months. In response to the difficulties that many companies face in obtaining credit, some equipment manufacturers, including Miller, are offering financing programs at very favorable interest rates.

How do you plan to respond to an improving economy and increases in orders? Will you look to purchase new equipment before adding to your payroll? Do you expect difficulties finding financing for your purchases? Share your thoughts on this subject by posting a comment below.

More information about Miller’s 0% financing program can be found here.

Although we’ll all be glad to put 2009 behind us, the unfortunate reality is that changing our economic fortunes is not as simple as changing our calendars. Despite some signs that the economy is recovering, many individuals, businesses and industries continue to struggle through the ongoing effects of the recession.

Nevertheless, the new year does provide an opportunity to take a small step back and assess the lessons learned in 2009 and think about how to apply that hard earned knowledge upcoming challenges in 2010.

A common business practice when deciding on a course of action is to perform a S.W.O.T. analysis (Strengths, Weaknesses, Opportunities, Threats). What are the strengths, weaknesses, opportunities and threats that you expect to face in 2010? Do you plan to make any changes to your business in the coming year in response to the ongoing economic slump? Do you expect to see a strong pick-up in business next year, or more of the same?

Tell us what your crystal ball is telling you by posting a comment below

And yet when you go beyond these broad indicators and look a little closer at the day-to-day lives of normal Americans, you’ll see that many people are still struggling to manage their personal finances under heavy credit card debt and onerous mortgage payments.

These broader measures offer hope that the economic situation for the average American will begin to improve in the year ahead, but they offer little consolation for those struggling in the here and now.

Businesses, too, face equally challenging times as competition drives down margins, the cost of employee benefits continues to increase, credit for new equipment is scarce and general morale suffers from these ongoing troubles.

Are you seeing the improving economy that many experts are touting? Have orders picked up at your workplace? Do you feel more secure in your job than you did a year ago? Tell us how you or your business are experiencing these broader economic measures by posting a comment below.

The theme of the show this year was “Converge to Emerge,” as in emerging from the recession in a better position to profit and gain market share as the economy recovers. To that end, both the exhibitors and attendees at the show demonstrated an optimism that the light at the end of the economic tunnel is growing brighter and brighter.

If you attended the show, were you impressed by the products and technologies on display? Do you plan on making any purchases based on the equipment you found at the show? Did you leave the show with a renewed hope for the future of the welding and fabrication industry?

Share your thoughts on this year’s FABTECH International/AWS Welding Show by posting a comment below.

10 AM-11 AM: Don’t Lose Your Sales Focus in a Down Economy; Joe Mayer, managing partner, Mayer Business Group LLC.

11:30 AM-12:30 PM: Smart Strategies for Preserving Stakeholder Relationships; Dick Kallage, Bill Barron and Patric Donahue of KDC Associates

1:30 PM – 2:30 PM: How to Protect Your Company from Customer Bankruptcy; Steven Gan, president, Stellar Rick Management.

All of these topics are relevant to the market as it exists today. What is your company doing to stay successful in a down economy?

Strong attendance at the show will be taken as a sign that employers are at least thinking about investing in new equipment and are anticipating an economic recovery by looking into equipment that can give them a competitive advantage when the turnaround happens.

Trade shows also provide a glimpse into the types of markets that equipment manufacturers view as growth industries. As noted recently by Vicki Bell, editor of The Fabricator’s Web site, the Essen Welding and Cutting Show in Germany offered a preponderance of new products designed for the power generation industry. Wonder what we’ll see in Chicago?

Are you planning on attending the FABTECH International/AWS Welding Show? What will you be looking for at the show? Do you find tradeshows to be a valuable way of discovering new technologies and products, or are there other reasons you attend? Share your thoughts by posting a comment below.

This should come as no surprise, given the state of the economy and the unemployment rate, but there are other less obvious reasons that probably share some of the credit for attracting more non-traditional sutdents into the trades.
One likely reason that the skilled trades are enjoying renewed appeal is that a plumber in China will be completely useless if your water pipes freeze and crack this winter — for the most part, skilled trade work cannot be outsourced to low wage countries. By contrast, employers are realizing that modern communications technology makes it possible to ship a great many jobs overseas, including engineers, bookkeepers, computer programmers and more.

Another possible explanation for increased trade school enrollment is the realization that these jobs can provide a very respectable living – in many cases, a journeyman willing to travel and work overtime can earn well into six figures.

And finally, popular culture must also take some of the credit for the skilled trade renaissance. Many new reality television shows, such as American Chopper, The Deadliest Catch and American Loggers, portray manual labor as a physically demanding, yet exciting and personally fulfilling life.

Are you seeing an increased interest in trade education among people over 40? What do you think is driving this trend? Share your thoughts on this subject by posting a comment below.

While two of the major industrial sectors — manufacturing (including fabrication) and construction — are in the midst of year over year job cuts with no significant end in sight, other sectors appear poised to take up the slack with new job growth.

According to the Bureau of Labor Statistics, the manufacturing sector accounted for 31 percent of all layoffs in August — the most of any industry — and construction made up for 11 percent of all layoffs, an increase from 10 percent of all layoffs in August 2008.

Meanwhile, the online editor for The Fabricator, Vicki Bell, observed a surge in new products designed for the energy sector — specifically tube and pipe welding and wind tower construction — at the recent Essen Welding Show in Germany.

Other industries, such as shipbuilding and mining also appear to have strong prospects for the near future.

These changes will undoubtedly present both challenges and opportunities. Welders, welding engineers, weld inspectors and others in the field will need to take steps to ensure their skill sets match those that are in demand by growing industries.

Are there other sectors of the welding industry that you think will grow faster than others in the years to come? Tell us where you think the welding jobs will be found in the near future by posting a comment below.