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BMW is doing just fine. Volvo's diesel engine sales are off-the-charts worldwide, they've virtually buried their competition in a lot of markets.
Judging by your insults you have zero concept of what the term "global economy" really means.
Judging by what you think is "off-the-charts", it's no wonder you keep repeating delusional fanboy myths about Greenville.
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In Germany, the auto industry is looking at Tesla as an existential threat. And rightly so. It won’t be long–maybe even this year, when Tesla will outsell both Mercedes and BMW combined in the US. Arguably the two most prestigious brands in the US getting outplayed by an American electric vehicle manufacturer that doesn’t have a single SUV or pickup truck in its lineup. While all German manufacturers scramble to have something for the electric customer Tesla keeps gaining market share. The German economy is headed toward a recession and it’s mostly due to Tesla.
Another offshoot of this change in consumer demand is that Tesla is doing this only with cars; no SUVs or trucks. So much for Ford and GM killing off their car lines. That’s what we keep hearing in the US, “Nobody is buying cars anymore.” But they are. In the luxury market, they are buying Tesla sedans, and in the economy and midsize sedan arena, it’s Toyota that keeps on selling sedans. It’s not that sedans don’t sell, it’s that buyers are choosing some and not others.
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But back to Germany and its woes, a German engineer said it best. “Your ambitions for electric vehicles are falling short of consumer expectations. Those expectations have been set from your strongest competitor today and in the future; Tesla.”
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As German teeters on a recession, the auto industry there showed zero growth in Q4 2019. Chief economists peg it onto auto-export manufacturing. People outside of German are not buying their products. Reuters compares it to 1970s Detroit when tanking sales left the city in ruins. It has yet to bounce back 50 years later.
Slumping 22% in 2019 major cuts have been announced from all of the largest manufacturers in Europe. We’re talking about BMW, Volkswagen, Mercedes, Michelin, Bosch, and Continental. Bosch CEO Volkmar Denner said, “It could well be that we have passed the peak of automotive production.”
Oh guess where most of the exports for cars made in SC go to? Oh yeah, that's right, to China.
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In China, the world’s largest car market, German car sales have declined for 18 months straight. The “Tesla effect” is being felt worldwide. Consumers want an energy sustainable vehicle. That big S-Series Mercedes sedan isn’t it. In fact, it represents the opposite.
Notice this article just came out today. I've been saying the same thing for months now. And it's based on what I've been seeing in the "global economy". Apparently I must know a thing or two when other experts in the automotive industry are writing articles on the same things.
Sounds like you gotta real fetish for bashing people who grate on your hyper-inflated ego.
Greenville manufacturing has been light years ahead of Rochester's for many years, now, just in the jobs numbers alone. Rochester manufacturing collapsed just as I was getting into it, and quite frankly it never recovered.
Who cares what Indeed says about that category? Obviously you don't work within manufacturing, and won't educate yourself about the various sectors contained within it. How many of those jobs pay over $50K/year? $75K/year? $100K/year?
We start machinists at our place at between $90K and $110K/year.
I thought photonics was going to take off like a rocket, there? What happened to that, huh?
It sounds like you have a real fetish for insulting anybody who has a positive view on Rochester and it really grates on your anger issues.
Who cares what Indeed says? Oh I don't know. Maybe everybody looking for a job or a company trying to find help? Anything that paints Rochester in a more positive fashion you love to counter with hyperbole statements like it "sucks", "terrible", "collapsed". And when pointed out you are flat out wrong such as pumping how great BMW is doing as an example, your fanboyism for Greenville statements of "light years ahead", or the hilarious "off-the-charts" statement on how BMW is doing. Yeah ok.
Hilarious, I can't wait for the local and forum spin doctors are gonna spin this one. One year later, Rochester still has one of the worst job markets in the U.S. This year's headline is even better in my opinion, they included the qualifier "...worst job market for a city its size". That is the coup de grace for me, but it'll be entertaining to see how people spin this awful statistic.
Like the RIT student in the story, I was in their shoes some years ago, and had to think hard about my future. Professors were telling us to flee NY State, even, especially folks like myself who already had manufacturing creds.
The latest research by The Wall Street Journal puts the Rochester area job market at dead last among America's 53 metro areas of more than 1 million people, with a workforce participation rate barely over 60% and a job growth rate just over 0.5%.
"...workforce participation rate barely over 60%...". That alone is scary, how many people there are on welfare and out of the workforce for there to be such a horrible participation rate. Go ahead and try to compare jobs and whatever stats pulled from dubious sites like Indeed to compare to where I live, the workforce participation rate is much higher. Again, many in and around Rochester simply are not working, and quite frankly many people there don't want to work, and NY State says they don't have to work.
The Rochester metro population has grown by over 40K since 1990, yet the civilian workforce level has crashed:
This may be a matter of which source you use, as this was in that article/segment: “Duffy pointed to different numbers from M&T Bank which showed much stronger year over year job growth of 1.3%, just below the national average, with a big boost from construction.”
I’m also wondering if they are referring to the WSJ article from a year that is in the OP and not a new article. Update, it is the article from a year ago, which uses 2018 data.
The BLS survey numbers are a bit dubious, I've heard about employers across the country lying on the survey. They also frequently lie about job openings, it's a complicated issue but at any rate:
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The State’s private sector job count is based on a payroll survey of 18,000 New York employers conducted by the U.S. Department of Labor’s Bureau of Labor Statistics. Monthly payroll employment estimates are preliminary and subject to revision as more data become available the following month. The federal government calculates New York State’s unemployment rate based partly upon the results of the Current Population Survey, which contacts approximately 3,100 households in the State each month.
Which tells me a metro like Rochester may be in a little better shape than what the federal government is otherwise indicating. 3,100 households for a state of over 19M seems a bit low.
The BLS survey numbers are a bit dubious, I've heard about employers across the country lying on the survey. They also frequently lie about job openings, it's a complicated issue but at any rate:
Which tells me a metro like Rochester may be in a little better shape than what the federal government is otherwise indicating. 3,100 households for a state of over 19M seems a bit low.
Yes and that tends to be the case for a lot of these surveys. Some get to more people than others, but they all tend to get a small survey sample. For instance, this report from SC gets more households, but is still relatively low for a state with over 5 million people now: https://dew.sc.gov/news-details-page...-december-2019
Are you serious? The WSJ has been published for over 130 years and is the pre-eminent American business journal. It is read all over the world.
I believe the WSJ about how Rochester's job market stacks up.
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