More Cars, More Jobs, and a Better Economy?
The auto industry may be showing great signs for its health and could do a lot to improve the health of the United States economy pretty soon. Many companies are expecting high sales this year, and they need more employees to make the supply meet the demand.
The second half of the last decade wasn’t so hot on the U.S. economy, nor was it great for the auto industry. In 2005, there were more than 1.1 million autoworkers making vehicles and parts in the U.S. After massive layoffs during the economic crisis, that figure dwindled. Today, there are 798,000 workers in the industry, but that’s still short of what it once was. Wages and compensation are also a bit lower than the were.
However, those numbers may become a relic attached to the economic crisis from which the nation could start distancing itself. The housing market is currently in recovery and strengthening itself, and consumer confidence is at a five-year high. This could help boost sales in other industries.