Latest Monthly Jobs Report: Alliance for American Manufacturing (AAM) Statement.

Posted by scapozzola on 06/01/2012

The latest monthly jobs report was issued this morning:

  • Total non-farm employment rose by 69,000 jobs, and the current unemployment rate is 8.2%.
  • The U.S. gained 12,000 manufacturing jobs in May.

Said Scott Paul, Executive Director of the Alliance for American Manufacturing (AAM):

"There’s no way around it: the May jobs report is terrible news. We see a palpable slowdown in manufacturing hiring. The April manufacturing jobs number was revised substantially downward to 9,000 jobs gained (from 16,000). The May manufacturing jobs number is 12,000, well below the trend of steady factory job growth since 2010.

"At the same time, we see Congress struggling to pass a highway bill, China devaluing its currency, and our trade deficit growing. This second act for American manufacturing will be fleeting unless Washington gets its act together. We’ve offered an effective, middle-of-the-road plan to regrow our economy.  Is Washington listening to the concerns of the American people?

"If either party wants the support of blue-collar voters, they would be wise to offer concrete actions that will boost manufacturing while also getting a lot tougher on China’s cheating, which threatens to derail our own economic recovery. Both House Speaker John Boehner and President Obama are essentially giving China a blank check to manipulate its currency by sitting on their hands. The House should pass the bipartisan H.R.639 to deter China from further currency manipulation, and the Obama Administration should rescind its decision to not name China a currency manipulator."

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