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Good News in Bureau of Labor Statistics’ October & November Jobs Reports

POSTED IN: Manufacturing, News
Good News in Bureau of Labor Statistics' October & November Jobs Reports

According to the Bureau of Labor Statistics’ October and November Jobs Reports, unemployment remained at its lowest level since 1969 at 3.7%. Here are some other highlights from these reports:

  • Total non-farm payroll employment rose by 250,000 in October and 155,000 in November.
  • Job gains occurred in manufacturing, health care, construction, and transportation and warehousing.
  • Employment in manufacturing rose by 32,000 in October and 27,000 in November.
  • Over the year, manufacturing employment has increased by 288,000.
  • Average hourly earnings for all employees on private non-farm payrolls rose by 6 cents to $27.35 in November.
  • Over the year, average hourly earnings have increased by 81 cents or 3.1%.

Bottom line: the U.S. economy is based on consumer spending, and these reports shows that consumers are growing their purchasing power, a positive indicator for the economy going forward.

Source: Precision Machined Products Association

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Tags: manufacturing industry news, manufacturing jobs, manufacturing jobs outlook, Precision Machined Products Association
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