Manufacturing job openings hit a new record in April, according to the Labor Department’s Job Openings and Labor Turnover Survey. NAM Chief Economist Chad Moutray has the details:
- “There were 996,000 manufacturing job openings in April, a new all-time high, with increased postings for both durable and nondurable goods firms,” said Moutray.
- “Over the past 12 months, job openings in the sector have averaged nearly 877,250. The number of job postings continued to be well above pre-pandemic levels, as companies ramped up activity and looked for more workers to meet the additional capacity.”
Hiring: “Manufacturers hired 506,000 workers in April, down from a record 514,000 in March,” said Moutray. “Total separations slipped from 488,000 to 482,000 for the month. Therefore, net hiring (or hiring minus separations) was 24,000 in April, easing from 26,000 in March. Net hiring has averaged 33,667 over the past 12 months.”
In other economic news: Private manufacturing construction spending rose 1.6% from 94.88 billion in March at the annual rate to $96.36 billion in April, according to the U.S. Census Bureau Economic Indicators.
- “Private construction activity in the sector has trended strongly higher since bottoming out at $65.92 billion in December 2020,” said Moutray.
- “Over the past 12 months, activity has soared 33.9%. These data speak to the strength and resilience of the manufacturing sector and the need to increase capacity to meet demand.”