Manufacturing Unemployment Rate Dips To 17-Year Low

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From ThomasNet:


After holding steady at 3.9% for March and April, the unemployment rate for manufacturing declined to 3.2% in May – its lowest point since June 2000. Meanwhile, the 0.7 percentage-point drop represents the largest improvement in the unemployment rate since June 2016, when the unemployment rate fell a full percentage point, from 4.7% to 3.7%.

The number of unemployed persons within the industry fell from 620,000 to 504,000 – the lowest it has been since at least 2000. However, the number of people employed within the industry fell by 1,000 workers.

Many durable goods sectors experienced job growth in May, including the Machinery sector, which added 3,700 new jobs – the most of any sector in the industry.

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