The latest employment summary released by the U.S. Department of Labor paints an encouraging picture of the U.S. manufacturing sector. In September, hiring in the industry accelerated, marking a noteworthy development in the nation's economic landscape.
Curious to know which manufacturing industries experienced gains and which faced losses during this period? In this article, we'll delve into the most recent statistics provided by the Labor Department, offering insights into job gains and losses within specific manufacturing subsectors.
According to the Labor Department's latest report issued on October 6th, U.S. manufacturers added a net total of 17,000 jobs in September. Meanwhile, the broader U.S. economy recorded the addition of 336,000 jobs overall during the same month, with the unemployment rate experiencing only marginal change at 3.8%.
Additionally, the latest Job Openings and Labor Turnover survey finds U.S. manufacturers are still struggling to hire, though overall number of job openings in manufacturing has declined. The Labor Department recorded 467,000 unfilled positions for the sector in August, compared to nearly one million open positions reported for the sector one year ago.
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The surge in hiring was predominantly led by the transportation equipment sector, which added 10,300 workers to its ranks. Following closely were the U.S. plastics and rubber sector, which gained 4,500 jobs; chemical manufacturing, which added 2,600; food manufacturing, with an increase of 1,900; paper products, up by 1,600; and wood products, up 1,400 positions. Other manufacturing sectors that saw job growth in September included nonmetallic mineral products, machinery, and electrical equipment.
While job losses in the manufacturing sector during September were relatively rare, they were most pronounced in printing and related support activities, with a decrease of 2,700 positions. Additional areas that experienced declines included computer and electronic product manufacturing (-2,400); beverage, tobacco, and leather (-2,000); and semiconductors (-1,600).
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