Boosting the economy through minerals mining

Despite the 16-day government shutdown in October, the jobs report for the month showed an increase in employment. The U.S. economy added a surprising 204,000 jobs, almost twice the estimate of 122,000 jobs.

The manufacturing sector added 19,000 jobs, its strongest showing since February. However, because the year overall has been sluggish, the National Association of Manufacturers called for policymakers to consider pro-growth measures that will “further spur economic output.”

The National Mining Association couldn’t agree more.  There has been some recent legislative movement aiming to spur job creation in the minerals mining industry, including the passage of The National Strategic and Critical Minerals Act of 2013 by the House and the introduction of the Critical Minerals Act of 2013 in the Senate. It is important that lawmakers continue to drive these efforts forward. Streamlining the permitting process would create a domestic supply chain and remedy scarcity issues that many CEOs currently face.

Not only is the minerals mining sector one of the only areas that added jobs throughout the economic downturn, it is on track to add between 11,000 and 13,000 jobs over the next 20 years. With more efficient permitting, the jobs engine would be even stronger. For every job created in metals mining, an estimated 2.5 additional jobs are generated, and for every nonmetals mining job, an additional 1.8.

Furthermore, these jobs are well-paying opportunities, often located in rural areas without many other career paths.

With the recent move toward reshoring initiatives by major manufacturers like Apple,  there is a big opportunity for the manufacturing and mining industries to come together to create a stable supply chain and ample job opportunities.