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
ADP reported that manufacturing employment rose by 11,000 in April. While that was slower than the 31,000 hires made in the sector in March, it was the fifth consecutive monthly increase, with manufacturers adding 111,000 workers on net in that time frame. This was yet another sign that we have turned a corner in the labor market, with employers accelerating their hiring in light of stronger activity and sentiment. In contrast, hiring in 2016 was flat for the year as a whole. We are hopeful the trend of stronger job growth is one that continues in the coming months.
Meanwhile, total private employment increased by 177,000 in April, which was close to the consensus estimate of around 180,000. Nonetheless, it was the slowest pace of hiring since October, down from 255,000 in March. Year-to-date, nonfarm payrolls have risen by 237,331 per month on average, which is significantly higher than the 180,892 workers added each month in 2016 as a whole. Read More
The Bureau of Labor Statistics said that total hires in manufacturing in February rose to the highest level since June 2008. The sector hired edged up from 304,000 in January to 305,000 in February. This represented notable progress from just 268,000 six months ago. With that said, the underlying data were mixed in February, with nondurable goods hiring up from 139,000 to 149,000 but hiring for durable goods firms down from 165,000 to 156,000. At the same time, total separations – which include quits, layoffs and retirements – decreased from 304,000 to 292,000. Separations were lower for both durable (down from 163,000 to 155,000) and nondurable (down from 141,000 to 137,000) goods manufacturers. Overall, net hiring (or hires minus separations) improved from zero in February to 13,000 in March, its fastest pace in seven months. Read More
The Bureau of Labor Statistics said that manufacturing employment increased for the fourth straight month, with the sector adding 11,000 workers in March. This was an encouraging sign that the recent uptick in optimism in the sector has begun to translate into better job growth, especially when contrasted with the declines in employment seen as recently as last autumn. Indeed, manufacturers lost 16,000 workers on net in 2016 as a whole, the first annual decline since the Great Recession. In contrast to that, manufacturing employment has averaged 16,750 per month since December. NAM President and CEO Jay Timmons spoke about the shift in attitudes in his statement about the jobs numbers, stating that manufacturers are upbeat that “positive change is coming,” largely on expectations about pro-growth policies from the new Trump Administration. Read More
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
ADP said that manufacturing employment grew strongly in February, with the sector hiring 32,000 workers for the month on net. It was the third straight monthly gain in manufacturing employment and the fastest monthly pace since March 2012. This was yet another sign that we have turned a corner in the labor market, with employers accelerating their hiring in light of stronger activity and sentiment. In contrast, firms were more cautious in 2016, with 39,000 fewer workers on net last year. Hopefully, the trend of stronger job growth is one that continues in the coming months. Read More
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
ADP said that manufacturing employment growth picked up in January, with the sector hiring 15,000 workers for the month on net. It marked the fourth time in the past five months that manufacturers added workers, but firms in the sector lost 39,000 workers in 2016, according to ADP. (The Bureau of Labor Statistics has said that manufacturing employment declined by 45,000 workers last year in official data.) Manufacturers had been wary about adding to their workforces over much of the past year due to global headwinds and economic uncertainties. Hopefully, this latest release is the start of things turning around as we begin 2017 with improved signs of activity and business confidence. Indeed, job openings have remained elevated in recent months, suggesting that manufacturers are prepared to accelerate hiring and be less cautious with better demand and production figures. Read More
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
The Bureau of Labor Statistics said that manufacturing employment rose by 17,000 in December, its first monthly increase since July. That is hopefully a sign of better hiring numbers moving forward, which would be consistent with some of the improved sentiment and activity data of late. Nonetheless, it does not reverse the disappointing trend seen for 2016 as a whole, which saw manufacturing hiring down by 45,000 workers on net for the sector. Indeed, for most of last year, manufacturing leaders were quite cautious in their hiring in light of disappointing demand and production data and persistent economic uncertainties and headwinds. Read More