Latest Monthly Jobs Report: Alliance for American Manufacturing (AAM) Statement
The latest monthly U.S. jobs numbers were issued this morning. Nonfarm payroll employment rose by 80,000 but the unemployment rate was unchanged at 8.2 percent. The manufacturing sector gained 11,000 jobs.
U.S. manufacturing job growth:
- Since January 2010: 504,000 jobs gained
- Since January 2012: 154,000 jobs gained
Said Scott Paul, Executive Director of the Alliance for American Manufacturing (AAM):
"Any increase in manufacturing jobs is welcome, although 11,000 is a weak number. The rate of manufacturing job growth has slowed considerably in the second quarter of 2012.
"Some factors—like the Eurozone debt challenges—are difficult to manage. But Congress and the Administration have more tools that they can use to promote private sector job growth in manufacturing.
"Launching trade actions against China’s market-distorting practices is one way, and we’re pleased the Obama Administration is moving forward aggressively on China’s auto tariffs. But China, which has depreciated the Yuan since the beginning of the year—should also be designated as a currency manipulator, and Congress should pass legislation that would deter this practice which destroys American jobs.
"Legislation the President will sign into law today to fund infrastructure investment is important, but it is a drop in the bucket compared to what is really needed to spur job growth and bringing our transportation systems into the 21st century. We’ve outlined many steps here that enjoy bipartisan support and would create good manufacturing jobs in America. The June jobs report should be a wake-up call that much more needs to be done."