The Bureau of Labor Statistics said that manufacturing job openings dipped from 435,000 in August—its highest level since January 2001—to 425,000 in September. Overall, though, this data suggests that manufacturers are posting new jobs at a very strong rate, with an improved economic outlook boosting employment growth. To put the current number in perspective, job openings in the sector were 326,000 one year ago. The underlying job openings data in September were mixed. Durable goods firms added posted more jobs in September, up from 248,000 to 255,000, a level not seen since April 2006. In contrast, job openings were lower for nondurable goods businesses for the second straight month, down from 187,000 to 170,000. This could reflect some negative impacts from recent hurricanes, likely making the decrease temporary. Read More
Today’s strong jobs report shows manufacturers’ record optimism this year is continuing to translate into real job creation. The Bureau of Labor Statistics reported that manufacturers added 24,000 workers in October, improving from a hurricane-related gain of just 6,000 in September. Note that the August and September data were revised upwardly in the latest figures, adding another 10,000 in total to what was estimated previously in those months. Through the first 10 months of 2017, manufacturing employment has risen by 13,800 on average per month—a definite improvement from the loss of 16,000 workers in 2016 as a whole and a sign that firms have stepped up their hiring as a result of a stronger economic outlook and increased demand and production activity. Indeed, since the end of the Great Recession, manufacturing employment has risen by 1,028,000 workers, with 12.48 million employees in the sector in this report.
We have also seen some upward pressure on wages. In this release, average weekly earnings for manufacturing workers rose from $1,090.18 in September to $1,097.57 in October, with that figure up 2.1 percent over the past 12 months. In addition, the average number of hours worked per week in the manufacturing sector edged up from 40.8 to 41.0, with average overtime hours shifting from 3.4 to 3.5 in this release.
The Bureau of Labor Statistics said manufacturing hiring remained robust in August, according to the latest Job Openings and Labor Turnover Survey (JOLTS) figures. The sector hired 352,000 workers in August, edging down from 353,000 in July. The pace of hiring in both months was the best since November 2007. In August, increased hiring at durable goods firms (up from 205,000 to 212,000, its highest level since November 2007) was essentially offset by reduced hiring for nondurable goods businesses (down from 148,000 to 140,000). At the same time, total separations—including layoffs, quits and retirements—fell from 320,000 to 304,000, a six-month low. As a result, net hiring (or hires minus separations) jumped from 33,000 in July to 48,000 in August. Read More
The Bureau of Labor Statistics said that manufacturers lost 1,000 workers in September, with the overall jobs numbers negatively impacts by damaging hurricanes in the month. In addition, the July and August data were also revised lower, subtracting 32,000 from prior manufacturing job growth estimates. Despite the disappointing figures in September, the reduced hiring is likely a temporary phenomenon, with employment expectations continuing to be very strong overall. Indeed, manufacturers have accelerated the pace of hiring since December, adding 122,000 workers on net over that 10-month time frame. That is a definite improvement following the loss of 16,000 workers seen in 2016 as a whole and a sign that firms have stepped up their hiring as a result of a stronger economic outlook and increased demand and production activity. Indeed, since the end of the Great Recession, manufacturing employment has risen by nearly one million workers, with 12.45 million employees in the sector in this report.
On this Manufacturing Day, it is important to remember that the ability to attract and retain a quality workforce is in a virtual tie for first place as one of the top challenges for manufacturers, according to the latest NAM Manufacturers’ Outlook Survey. As the labor market has tightened, workforce development challenges have become more pressing for business leaders in the sector. In addition, we have also seen some upward pressure on wages. In this release, average weekly earnings for manufacturing workers rose from $1,080.99 in August to $1,085.88 in September, with that figure up 2.0 percent over the past 12 months. Read More
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
The Bureau of Labor Statistics said that manufacturers added 36,000 net new workers in August, its fastest monthly gain in five years and increasing for the third consecutive month. In addition, the June and July data were revised higher, increasing employment in the sector by a total of 19,000 more than originally estimated. As such, manufacturing was a bright spot in the latest jobs data—a sign that the sector has rebounded from global headwinds over the past two years.
Indeed, over the past nine months, manufacturing employment has risen by 155,000, averaging 17,222 per month. That is a definite improvement following the loss of 16,000 workers on net for 2016. Moreover, total manufacturing employment rose to 12.48 million, rising by 1.03 million since the Great Recession and its highest level since January 2009.