A Closer Look

The January 2016 Job Report in US – Manufacturing jobs hit 7-year high 

Apparently, no one told American manufacturers that their business is collapsing, because they kept on hiring more workers in January.The Bureau of Labor Statistics reported Friday that manufacturing companies added 29,000 workers in January to reach a seven-year high of 12.4 million. After a soft patch in the middle of last year, it was the fourth month in a row that manufacturing payrolls had increased.It wasn’t just a few sectors that increased employment. Of 79 manufacturing industries, 64% were adding workers. Sectors as diverse as food manufacturing, fabricated metals, auto making and chemicals were hiring.Not only were factories hiring, they were working their employees longer shifts. Average weekly hours rose a tick to 40.7 hours in January, which is significant because the manufacturing workweek is considered to be one of the best leading indicators for the health of the economy as a whole. Despite the strong dollar, the drop in export orders and the decrease in capital spending, average hours in manufacturing have been roughly unchanged since April.

Chosen excerpts by Job Market Monitor. Read the whole story at  What recession? Manufacturing jobs hit 7-year high – MarketWatch

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