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The latest employment summary from the U.S. Department of Labor finds employment levels in U.S. manufacturing declined by 8,000 jobs in May. This follows a loss of 1,000 jobs in April.
The overall jobs report found the U.S. economy added 139,000 jobs in May, running behind the 177,000 jobs added in April. The unemployment rate was unchanged at 4.2%. Employment gains were led by health care, leisure and hospitality, and social assistance.
Additionally, the latest Job Openings and Labor Turnover survey finds that unfilled positions in U.S. manufacturing fell to 369,000 unfilled positions in April, compared to 402,000 open positions in March. (JOLTS data runs a month behind).
Meanwhile, a more in-depth look at the data from the Labor Department finds some notable gains—and losses within specific subsectors. Let’s take a look:
In May, losses were overwhelmingly led by the were led by the durable goods sector, which shed 7,000 jobs. Nondurable goods lost 1,000 jobs, for a total loss of 8,000 jobs for the sector. Next, we’ll explore gains and losses in specific industry subsectors.
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Employment losses in May were overwhelmingly led by the machinery sector, which shed 7,300 jobs. This was followed by losses in plastics and rubbed (-1,700 jobs); paper manufacturing (-1,500 jobs); petroleum & coal products manufacturing (-1,000 jobs); furniture manufacturing (-1,000 jobs); and semiconductors & other electronic components manufacturing (-900 jobs).
Additional marginal losses were seen across additional sectors, including textile mills, apparel manufacturing, printing & support activities, electronic products and nonmetallic minerals.
May manufacturing job gains were few and far between, led by food manufacturing, which added 3,900 jobs. Primary metals and fabricated metals each gained 1,300 jobs, while electrical equipment, appliance and component manufacturing saw a 1,100-job gain. Additional gains were seen in textile product mills (+1,000);navigational, measuring, electromedical, and control instruments manufacturing (+500); and motor vehicles and parts (+400).
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Source: https://www.bls.gov/news.release/empsit.t17.htm
Editor's note: This article is updated on the first Friday of every month, based on the latest data released by the Department of Labor.
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