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JOLTs Archives - Shopfloor

Total Manufacturing Hires in July was Highest since the Great Recession

By | Economy, Shopfloor Economics, Shopfloor Main | No Comments

The Bureau of Labor Statistics said total manufacturing hires in July was the highest since December 2007, the first official month of the Great Recession. The sector hired 341,000 workers in July, up from 324,000 in June. Both durable (up from 190,000 to 196,000) and nondurable (up from 134,000 to 145,000) goods firms added employees in July, with the level of durable goods hiring at a 9½-year high. At the same time, total separations—including layoffs, quits and retirements—also increased, up from 315,000 to 321,000. The level of separations was the highest since June 2009, which coincidently was the last official month of the recession. As a result, net hiring (or hires minus separations) was 20,000 in July, up from 9,000 in June, its strongest monthly pace since December 2014. Read More

Manufacturing Job Openings Bounced Back in June; Nonfarm Postings at New All-Time High

By | Economy, Shopfloor Economics, Shopfloor Main | No Comments

The Bureau of Labor Statistics reported that manufacturing job openings bounced back from 350,000 in May—its slowest pace so far this year—to 388,000 in June. That was the best number since March’s reading of 404,000, which was a 16-year high. In June, both durable (up from 201,000 to 214,000) and nondurable (up from 149,000 to 174,000) goods firms had more job postings. Openings in the sector have averaged 372,000 year to date in 2017, an improvement from the average of 342,000 for all of 2016. We would expect stronger job openings data moving forward, especially given recent improvements in the economic outlook for the sector, and this should lead to better hiring figures. Read More

Hiring Rate for Manufacturers at Nearly a 10-Year High in May

By | Economy, Shopfloor Economics, Shopfloor Main | No Comments

The Bureau of Labor Statistics reported that the rate of hiring in the manufacturing sector in May grew to its fastest pace since November 2007. According to the latest Job Openings and Labor Turnover Survey data, manufacturers hired 332,000 workers in May, up from 314,000 in April. Expressed as a percentage of the total manufacturing workforce, that meant the hiring rate in the sector jumped from 2.5 percent to 2.7 percent, or nearly a 10-year high. Hiring has trended upward across the past nine months since it bottomed out at 268,000 in August. With that said, total separations—including layoffs, quits and retirements—also rose, up from 317,000 to 327,000, with the separations rate unchanged at 2.6 percent. As a result, net hiring (or hires minus separations) increased by 5,000 in May, rebounding from a loss of 3,000 workers in April. Read More

Job Openings in Manufacturing Increased Robustly in March

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that there were 394,000 job openings in the manufacturing sector in March, up from 364,000 in February. This matched the reading from July 2016, and each was the fastest rate since April 2006. In March, increased job openings for both durable (up from 209,000 to 229,000) and nondurable (up from 155,000 to 165,000) goods firms helped to lift the headline number, with the durable goods pace at levels last seen in July 2007. Overall, this report suggests that manufacturing leaders are accelerating their hiring intentions in light of recent improvements in the economic outlook, including better figures for demand and production. Indeed, job openings should be a good proxy of future hiring, and as such, it bodes well for improved employment data moving forward. Read More

Manufacturing Job Openings Ticked Higher in January, but Separations Were Also Up

By | Economy, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings ticked higher, up from 342,000 in December to 364,000 in January, its highest level since July’s 15-year high (394,000). Job postings rose for both durable (up from 194,000 to 207,000) and nondurable (up from 148,000 to 157,000) goods firms. This report is encouraging from an openings standpoint, as elevated levels of postings should lead to better hiring numbers down the line.

For now, however, net hiring has remained weak. Total hiring edged up from 293,000 to 294,000 for the month, its fastest pace since October 2008. An increase in hiring for nondurable goods firms (up from 122,000 to 126,000) was just enough to offset fewer hires for durable goods manufacturers (down from 171,000 to 168,000). At the same time, total separations – which include quits, layoffs and retirements – increased from 287,000 to 301,000, an 11-month high. Separations were higher for both durable (up from 163,000 to 168,000) and nondurable (up from 124,000 to 132,000) goods businesses. Read More

Manufacturing Job Openings Ticked Higher in December

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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

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

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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

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

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

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