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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

JOLTS: Manufacturing Job Openings Pulled Back Somewhat in June, but Remained Encouraging

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The Bureau of Labor Statistics said that manufacturing job openings pulled back somewhat in June. The Job Openings and Labor Turnover Survey (JOLTS) said that job postings in the sector declined from 333,000 in May to 308,000 in June. The May pace had been the highest since July 2007 (even as it was revised down from the original estimate of 347,000). Despite the easing, this continues an upward trend for openings for manufacturers, with an average of 326,000 through the first six months of 2015, up from an average of 290,000 for all of 2014. More importantly, the increased rate of job openings should bode well for stronger hiring activity moving forward. Read More

JOLTS: Manufacturing Job Openings at their Highest Levels in Nearly 8 Years

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The Bureau of Labor Statistics said that manufacturing job openings neared an 8-year high in May. The Job Openings and Labor Turnover Survey (JOLTS) release noted that job posting in the sector rose from 335,000 in April to 347,000, the highest level since July 2007. This continues an upward trend for openings among manufacturers, with an average of 332,000 through the first five months of 2015, up from an average of 290,000 for all of 2014. More importantly, it could indicate stronger hiring activity moving forward, which has been quite weak so far this year, mirroring softer economic data in general. Read More

JOLTS: Manufacturing Net Hiring Was Negative for the Third Consecutive Month

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The Bureau of Labor Statistics said that net hiring in the manufacturing sector was negative for the third consecutive month. The Job Openings and Labor Turnover Survey (JOLTS) release continued to show softer-than-desired employment activity for the manufacturing sector in April, mirroring headwinds seen in other economic indicators. Manufacturers hired 256,000 workers in April, down slightly from 257,000 in March. At the same time, total separations – including layoffs, quits and retirements – were down from 264,000 to 259,000. As such, net hiring (or hires minus separations) was -3,000 in April, or somewhat better than the -7,000 observed in March. Hopefully, we will see a rebound in net employment growth in the coming months. Read More

JOLTS: Manufacturing Net Hiring Was Negative in Both February and March

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The Bureau of Labor Statistics said that net hiring in the manufacturing sector was negative in both February and March, according to the latest Job Openings and Labor Turnover Survey (JOLTS) release. This was the first declines in net hiring for the sector in nearly two years, a reflection of the recent headwinds seen in the economy so far this year.

Manufacturers hired 254,000 workers in April, down from 259,000 in March. At the same time, total separations – including layoffs, quits and retirements – were unchanged at 264,000. Therefore, net hiring (or hires minus separations) declined from -5,000 to -10,000. This represents a deterioration from the more-robust pace of net hiring growth seen in the second half of 2014, which averaged nearly 25,000 per month. Hopefully, we will see a rebound in net employment growth in the coming months. Read More

Manufacturing Job Openings Rebounded in January

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The Bureau of Labor Statistics said that manufacturing job openings rebounded in January after easing slightly in December. The number of job postings in the sector rose from 310,000 in December to 330,000 in January, which was just barely lower than the 332,000 seen in November. November’s pace had been the fastest since August 2007, and the number of openings have risen steadily on a year-over-year pace, up from 263,000 in January 2014. In this latest report, both durable (up from 195,000 to 202,000) and nondurable (up from 115,000 to 127,000) goods industries reported more openings for the month. Read More

Manufacturing Job Openings Eased Slightly in December, but with Positive Longer-Term Trend

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The Bureau of Labor Statistics said that the number of manufacturing job openings decreased slightly, down from 325,000 in November to 306,000 in December. While job postings pulled back a little, the longer-term trend remains positive. November’s pace had been the fastest since August 2007, and the number of openings have risen steadily on a year-over-year pace, up from 259,000 in January 2014. Still, the data were a bit softer in December, with both durable (down from 203,000 to 196,000) and nondurable (down from 122,000 to 110,000) goods industries reporting fewer openings for the month. Read More