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JOLTs

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Manufacturing Job Openings Ticked Higher in December

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings ticked higher, up from 314,000 in November to 325,000 in December, a three-month high. Postings in the sector have trended lower since achieving an all-time high of 397,000 in April. On the positive side, this report will hopefully begin a movement in the right direction, and more importantly, job openings remain quite elevated overall, especially relative to net hiring. In 2016, job openings averaged 341,000 per month, up from 311,000 in 2015. In the December data, both durable (up from 181,000 to 183,000) and nondurable (up from 133,000 to 141,000) goods firms had more openings. Read More

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Net Hiring in Manufacturing Was Flat in November with Little Change in Job Openings

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that net hiring in the manufacturing sector was flat in November, continuing a trend of weak net job growth year-to-date. According to the latest Job Openings and Labor Turnover Survey (JOLTS), total hiring edged up from 274,000 in October to 275,000 in November, with marginal increases for both durable (up from 159,000 to 160,000) and nondurable (up from 114,000 to 115,000) goods firms. At the same time, total separations – which include quits, layoffs and retirements – rose from 269,000 to 275,000 for the month. Overall, net hiring (or hiring minus separations) decreased from 5,000 in October to zero in November.

Meanwhile, manufacturing job openings were little changed, up from 320,000 in October to 324,000 in November. Postings in the sector have trended lower since achieving an all-time high of 397,000 in April; yet, they remain elevated, especially relative to hiring levels. Through the first 11 months of 2016, job openings have averaged 343,000 per month, up from 311,000 for 2015 as a whole. As such, we have continued to see relatively healthy gains in manufacturing job openings, despite some easing over the past few months. This gives us optimism for faster hiring growth moving forward. In the November data, nondurable goods firms had more openings, up from 123,000 to 139,000, but there were fewer postings among durable goods manufacturers, down from 197,000 to 185,000. Read More

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Net Hiring in Manufacturing Turned Negative Again in October

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that net hiring in the manufacturing sector turned negative again in October, ending four straight monthly gains. According to the latest Job Openings and Labor Turnover Survey (JOLTS), total hiring declined from 279,000 in September to 271,000 in October. Hiring was lower for both durable (down from 163,000 to 156,000) and nondurable (down from 116,000 to 115,000) firms for the month. At the same time, total separations – which include quits, layoffs and retirements – were also reduced in October, down from 278,000 to 273,000. Overall, net hiring (or hiring minus separations) decreased from 1,000 in September to -2,000 in October, the first net decline since May.

Meanwhile, manufacturing job openings also pulled back in October, even as they remain relatively elevated in general. Job openings in the sector edged down from 328,000 to 322,000 in this report, with postings shifting lower since achieving an all-time high of 397,000 observed in April. Through the first ten months of 2016, job openings have averaged 346,000 per month, up from 311,000 for 2015 as a whole. As such, we have continued to see relatively healthy gains in manufacturing job openings, despite some easing in over the past few months. This gives us optimism for faster hiring growth moving forward. In the October data, nondurable goods firms had more openings, up from 122,000 to 132,000, but there were fewer postings among durable goods manufacturers, down from 206,000 to 190,000. Read More

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Manufacturing Job Openings Rose Slightly in September

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings rose slightly, up from 326,000 in August to 334,000 in September. Openings have drifted lower since achieving an all-time high of 397,000 observed in April. Through the first three quarters of 2016, job openings have averaged 349,000 per month, up from 311,000 for 2015 as a whole. As such, we have continued to see relatively healthy gains in manufacturing job openings, despite some easing in over the past couple months. This gives us optimism for faster hiring growth moving forward. In the September data, durable goods firms had more openings, up from 185,000 to 205,000, but there were fewer postings among nondurable goods manufacturers, down from 141,000 to 130,000. Read More

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Manufacturing Job Openings Pulled Back in August but Remained Elevated

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings pulled back in August but remained elevated relative to net hiring. Postings in the sector fell from 379,000 in July to 337,000 in August. Openings have drifted lower since achieving an all-time high of 397,000 observed in April. Through the first eight months of 2016, job openings have averaged 352,000 per month, up from 311,000 for 2015 as a whole. As such, we have continued to see relatively healthy gains in manufacturing job openings, despite some easing in this report, which gives us optimism for faster hiring growth moving forward. In the August data, both durable (down from 223,000 to 194,000) and nondurable (down from 156,000 to 143,000) goods firms had slower job opening rates, but the July numbers also appear to be a bit of an outlier based on recent trends. Read More

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Manufacturing Job Openings Accelerated in July

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings accelerated in July for the second straight month. Postings in the sector jumped from 361,000 in June to 379,000 in July, even as openings remained below the all-time high of 397,000 observed in April. Through the first seven months of 2016, job openings have averaged 354,000 per month, up from 311,000 for 2015 as a whole. As such, we have continued to see relatively healthy gains in manufacturing job openings, which gives us optimism for faster hiring growth moving forward. In the July data, the increase in job openings stemmed from a pickup in activity for durable goods firms (up from 200,000 to 227,000); whereas, postings for nondurable goods entities (down from 160,000 to 152,000) declined for the third straight month. Read More

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Manufacturing Job Openings Accelerated in June

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings accelerated in June after dipping somewhat in May. Postings in the sector jumped from 350,000 in May to 377,000 in June, even as it remained below the all-time high of 397,000 observed in April. In the first half of 2016, job openings have averaged 353,000 per month, up from 311,000 for 2015 as a whole. As such, we have continued to see relatively healthy gains in manufacturing job openings, which gives us optimism for faster hiring growth moving forward. In the June data, the increase in job openings stemmed from a pickup in activity for durable goods firms (up from 180,000 to 217,000); whereas, postings for nondurable goods entities (down from 170,000 to 160,000) declined for the second straight month. Both have trended higher over the past 12 months, however, with job openings for durable and nondurable goods manufacturers measuring 182,000 and 103,000 in June 2015, respectively. Read More

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Manufacturing Job Openings Soared in April to an All-Time High Even as Net Hiring Remained Weak

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings soared to a new all-time high, up from 337,000 in March to 415,000 in April. That was enough to surpass the prior peak of 366,000 achieved in July 2015. Indeed, the job opening rate jumped from 2.7 percent of the manufacturing workforce in March to 3.3 percent in April. Both durable (up from 167,000 to 213,000) and nondurable goods (up from 170,000 to 202,000) firms posted more jobs for the month. The nondurable goods figure reached a new all-time high, much like the headline number, with openings for durable goods manufacturers at a 12-month high. I suspect that the April data will be an outlier when all is said and done; yet, it does provide some optimism for faster hiring growth moving forward. Read More

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Total Manufacturing Job Separations Reached a Post-Recession High in February

By | General | No Comments

Total separations (e.g., quits, layoffs, retirements) in manufacturing rose to the highest level since the end of the Great Recession in February. The Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics said that total separations in the sector increased from 266,000 in January to 302,000 in February. In contrast, manufacturers hired 277,000 workers in February, edging up slightly from 274,000 in January. As a result, net hiring – or hires minus separations – decreased by 25,000 in February, illustrating just how much manufacturers have pulled back on employment in light of slower demand and production growth. Read More

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Manufacturing Job Openings Rose in December to its Fastest Pace since 2001, but Hiring Remained Soft

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings in December rose to their fastest pace since March 2001. The Job Openings and Labor Turnover Survey (JOLTS) reported that job postings in the sector jumped from 279,000 in November to 365,000 in December. To be fair, the November reading was lower than anticipated, and this latest figure might represent something of a bounce back. Overall, these data suggest that manufacturers have increased the number of job openings over the longer term, with an average of 325,000 postings per month in 2015, up from an average of 290,000 in 2014. The December data reflect increased postings for both durable (up from 167,000 to 193,000) and nondurable (up from 112,000 to 172,000) goods manufacturing firms. Read More