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JOLTs

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Manufacturing Job Openings Rose Slightly in September

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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

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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

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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

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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

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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

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Manufacturing Job Openings Dipped to their Lowest Level in 13 Months in November

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The Bureau of Labor Statistics said that manufacturing job openings fell to their lowest level in 13 months in November. The Job Openings and Labor Turnover Survey (JOLTS) reported that job postings in the sector declined from a revised 310,000 in October to 294,000 in November, the first time this measure has been below 300,000 since October 2014. As such, it represents a pullback in the pace of job openings since the indicator reached an eight-year high in July with 339,000 postings. Digging a little deeper, job openings for nondurable goods firms decreased from 127,000 to 111,000; whereas, postings from durable goods manufacturers was unchanged for the month. Both durable and nondurable goods activity remained soft, however, easing from stronger growth in the summer.

Meanwhile, net hiring in the manufacturing sector was flat in November. Manufacturers hired 274,000 workers in November, up from 265,000 in October, with durable and nondurable goods businesses seeing increases. At the same time, manufacturing job separations – which include quits, layoffs and retirements – rose from 267,000 to 274,000. As such, net hiring (or hires minus separations) was zero in November, up from a decline of 2,000 in October. Hopefully, we will see a rebound in net employment growth in the coming months.

In the larger economy, nonfarm job openings accelerated from 5,349,000 in October to 5,431,000 in November. Postings have slowed since reaching an all-time high of 5,668,000 in July, but have trended higher over the past year, up from 4,886,000 in November 2014. There were increased job openings in the following sectors in November: construction, education and health services, government, leisure and hospitality and professional and business services. Beyond job openings, net hiring in the overall economy was unchanged at 267,000.

Manufacturing Job Openings Pulled Back a Little in August from the 8-Year High Seen in July

By | Economy, General, Shopfloor Economics | No Comments

The Bureau of Labor Statistics said that manufacturing job openings pulled back a little in August from the eight-year high seen in July. The Job Openings and Labor Turnover Survey (JOLTS) reported that job postings in the sector declined somewhat from 339,000 in July to 334,000 in August. Despite the slight easing, these data have largely trended higher over the past year, up from 286,000 in July 2014. This should continue to bode well for stronger hiring activity moving forward. Digging a little deeper into this month’s release, job openings for durable goods firms increased strongly, up from 197,000 to 216,000; whereas, the decline in the headline figure came from reduced postings for nondurable goods manufacturers, down from 142,000 to 117,000.

Meanwhile, net hiring in the manufacturing sector returned to negative territory again for the first time since April. Manufacturers hired 265,000 workers in August, the same pace as observed in July. At the same time, however, manufacturing job separations rose from 254,000 to 272,000, the highest level since January 2010. As such, net hiring (or hires minus separations) declined by 7,000, down from a gain of 11,000 in July. Net hiring has averaged just 250 per month so far in 2015, essentially suggesting no growth year-to-date. This is well below the 24,667 pace seen in the second half of last year. Hopefully, we will see a rebound in net employment growth in the coming months.

In the larger economy, nonfarm job openings also eased from an all-time high the month before, down from 5,668,000 in July to 5,370,000 in August. Job postings were off across-the-board in major industrial sectors. In addition, net hiring was off marginally for the month, down from 269,000 to 232,000. This is a pace of labor market growth that remains quite decent overall. Hiring was up in September for education and health services and the leisure and hospitality sectors, with softer employment growth in other industries for the month.

Chad Moutray is the chief economist, National Association of Manufacturers.

JOLTS: Manufacturing Job Openings Increased to an 8-Year High in July

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The Bureau of Labor Statistics said that manufacturing job openings increased to an eight-year high in July. The Job Openings and Labor Turnover Survey (JOLTS) said that job postings in the sector rose from 310,000 in June to 342,000 in July, its quickest pace since July 2007. This figure has trended higher over the past year, up from 286,000 in July 2014. This should bode well for stronger hiring activity moving forward. The largest increase in July came from nondurable goods firms, up from 120,000 to 147,000, as this figure had pulled back significantly in June. Job openings for durable goods firms was also higher for the month, up from 190,000 to 195,000. Read More