October 2020 was manufacturing month in the United States, an event that is normally a cause for celebration. Even more so, with the news that U.S. manufacturing accelerated to a near two-year high in August. At a time when good news is in short supply, it’s been four consecutive months of growth for the sector.
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With the coronavirus pandemic raging on, however, that enthusiasm is being tempered. Nonfarm payrolls are about 10.7 million below their pre-pandemic level, while the unemployment rate has more than doubled from September last year. According to the Bureau of Labor Statistics, a year ago, 3.1 percent of women were unemployed, compared with 3.2 percent of men. It’s now 7.7 percent of women and 7.4 percent of men.
Women make up almost half of the overall workforce in the United States, but in manufacturing, that drops to less than one in three. In my role as company president of GoatThroat Pumps, I'm trying to buck this trend and set an example for would-be female entrepreneurs.
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