The manufacturing employment trend continues.
Good news for people who like manufacturing job news: The Labor Department’s monthly employment report is out, and the manufacturing sector posted strong data again: 18,000 new factory jobs were created in May.
That’s good news, and the continuation of a long trend, noted our own Scott Paul:
A reminder: We’ve slowly but steadily added #manufacturing jobs since 2010 (Obama era). That’s 8 years without a significant year-over-year decline. Longest streak since the 1960s. Impressive in an age of automation and imbalanced trade.— Scott Paul (@ScottPaulAAM) June 1, 2018
Others, meanwhile, pointed out that while jobs are up, wages aren’t rising as quickly as hoped:
Pre-#inflation private sector #wages in May saw their best m/m gain (0.30%) since Dec (0.38%). But #manufacturing m/m pay flat-lined & April gains were revised down. Y/y #mfg wages are up just 1.85%, vs 2.71% for the private sector. #economy #NFP #jobs #slack— (((Alan Tonelson))) (@AlanTonelson) June 1, 2018
Here’s what Paul (and AAM) had to say this morning:
"The data suggests these tariffs aren’t the job killers they were warned to be. But while they aren’t hindering manufacturing job growth, tariffs alone won’t sustain a factory resurgence. We need infrastructure investment and a clear strategy to ensure the industries of tomorrow are made in America."
Find the official jobs report here.