Wednesday, January 18, 2017

Manufacturing Industry Jobs Update: December 2016

From ThomasNet:

How can we measure growth for the industry overall? A good barometer is the state of the manufacturing workforce. That’s why we will be regularly diving deep into the latest information from the Bureau Of Labor Statistics to take the pulse of hiring in the industry and to highlight sectors that are growing.

According to the BLS's Employment Situation report for December, a total of 156,000 new jobs were added to the economy. However, despite this increase, the national unemployment rate ticked up one percentage point, from 4.6% in November to 4.7% in December.

Within the manufacturing industry, a total of 17,000 new manufacturing jobs were created during the month. However, the unemployment rate rose slightly, from 3.9% to 4%, meaning the industry finished the year with the exact same unemployment rate as it did in 2015.

As far as year-over-year growth manufacturing job growth, 2016 proved to be a mixed bag. While many sectors either held steady or lost workers, there were some that generated significant growth. These sectors include Food Manufacturing, which added 23,600 jobs for the year; Motor Vehicles And Parts, which added 15,900 jobs for the year; and Miscellaneous Nondurable Goods, which added 12,600 jobs over the last twelve months.

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