The setting for this morning’s news event at the NAM with Commerce Secretary Carlos Gutierrez. From the Bureau of Labor Statistics:
The unemployment rate rose from 4.8 to 5.1 percent in March, and nonfarm payroll employment continued to trend down (-80,000), the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Over the past 3 months, payroll employment has declined by 232,000. In March, employment continued to fall in construction, manufacturing, and employment services, while health care, food services, and mining added jobs. Average hourly earnings rose by 5 cents, or 0.3 percent, over the month.
Manufacturing employment fell by 48,000 in March and by 310,000 over the past 12 months. Employment in motor vehicles and parts was down by 24,000 over the month, largely reflecting the impact of a strike in auto parts manufacturing. The strike resulted in a parts shortage that led to plant shutdowns elsewhere in the auto industry. During the 12 months ending in February, the motor vehicle and parts industry lost an average of 6,000 jobs per month. In March, factory employment also fell in several construction-related industries, including wood products (-5,000), nonmetallic mineral products (-5,000), and furniture and related products (-5,000). Plastics and rubber products and textile mills also lost jobs over the month.
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