ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

NAM Official reports on April 2010 employment numbers.

Print | 
Email |  Comment   Share  
May 12, 2010 - In comment on April employment numbers at shopfloor.org, NAM Chief Economist Dave Huether said Labor Department employment report showed 290,000 jobs were added in April, which is fastest monthly gain in 4 yr. Manufacturing employment increased for fourth consecutive month, with 19 of 21 major industries adding jobs. Half of increase was in food products, machinery, and fabricated metals industries. Simultaneous increase in both employment and unemployment rate was also reported.

NAM Economist on April Employment Numbers


(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

National Association Of Manufacturers (NAM)
1331 Pennsylvania Ave. N.W.
Washington, DC, 20004
USA



Press release date: May 7, 2010

National Association of Manufacturers (NAM) Chief Economist Dave Huether commented today on the April employment numbers at shopfloor.org. To speak with Dave please contact Jeff Ostermayer at jostermayer@nam.org or at 202-637-3090.

April Employment: Labor Market Showing Momentum

Today's Labor Department employment report that job growth accelerated in April - adding 290,000 jobs, the fastest monthly gain in four years - is a welcome sign that the labor market is finally starting to build some positive momentum. The fact that 10 of the 12 major private sectors of the economy expanded employment in April, up from nine in March and six in February, indicates that employers are becoming confident enough in the emerging recovery to start hiring workers. Additionally, today's report included positive revisions that increased employment gains by 121,000 in February and March.

Up for a fourth consecutive month, manufacturing employment increased by 44,000, to 11.6 million in April, bringing the 2010 gains to 101,000, the biggest four-month gain in a dozen years. The manufacturing employment gain was diffuse, with 19 of the 21 major industries adding jobs. However, half of the increase was in just three industries: food products, machinery and fabricated metals. The latter two were also responsible for the bulk of the 19,000 jobs added in March. Going forward, continued gains in manufacturing will not likely take hold until robust upswings in housing and business equipment join the strong export recovery that is already under way (and is likely one of the main drivers of the positive swing in manufacturing employment).

While the April rise in employment was impressive, the fact that the unemployment rate increased to 9.9 percent will likely weigh on consumer confidence in the near term. Unfortunately, this dichotomy of a simultaneous increase in both employment and the unemployment rate will likely continue in the months ahead. Those who were previously out of the workforce and re-entered as unemployed rose by 195,000 in April and accounted for a quarter of the unemployed last month. Over the past year, more than two million workers have left the workforce. As these workers resume searching for employment, they initially will be counted as unemployed and will elevate the unemployment rate until they find a job. Thus, a temporary rise in the unemployment rate back above 10 percent is a real possibility in the near term.

Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 See related product stories
More .....
 See more product news in:
Services
| Featured Manufacturing Jobs
 Other News from this company:
NACD and Associquim Sign Memorandum of Understanding
Good News on ACA Implementation - Kind of
Participate in Manufacturing Day - Mark Your Calendars for October 4!
Business Group Praises Bipartisan Introduction of Bill Preventing Costly and Unnecessary Regulation of Main Street Risk Management
Manufacturers Win in Fight Against NLRB Overreach
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address