Economic Recovery Cooling, NAM Economist Says

Washington, DC, Oct. 12, 2010--The economic recovery is cooling, according to Dave Huether, chief economist for the National Association of Manufacturers.

Huether noted that manufacturing employment fell for the second straight month in September, although manufacturers have added 136,000 jobs this year. However, most of those jobs came in the first half of the year.

Overall, he said, the economic news last week was slightly positive, with five of eight major indicators growing.

Unemployment overall remains a significant drag on the economy.

"While those unemployed for at least half a year fell to 41.7% of the total unemployed, down from 46% in May, this concerning measure of joblessness remains well above the prior historic cyclical peak of 26% set in June 1983," Huether noted.