July Jobs Report Beats Expectations

Aug. 3, 2012
Manufacturing adds 25,000 jobs.

Employment rose by 163,000 in July, the government reported today, but the unemployment rate stayed stuck at 8.3%.

Manufacturing added 25,000 jobs this past month, nearly all of them in durable goods industries. The transportation equipment sector, which includes automobile manufacturing, added 20,500 jobs. The U.S. Bureau of Labor Statistics noted that automotive manufacturers and their suppliers had fewer seasonal layoffs than normal.

Fabricated metals products manufacturers added 5,200 jobs while the communications equipment industry added 1,300 jobs. Machinery manufacturers trimmed their employment rolls by 2,200 workers.

The nondurable goods sector as a whole added just 1,000 jobs.In nondurable goods, plastics and rubber products manufacturers added 1,600 jobs, chemical firms added 1,100 workers and beverage and tobacco producers added 1,100 workers.

Labor experts had expected the United States to add about 100,000 jobs in July. Since the beginning of 2012, employment has grown by an average of 151,000 a month, just under the 2011 average of 153,000 for the same period.
 
"While the monthly gain is still relatively small by historical standards, it might help spark somewhat higher consumer optimism and spending. This, in turn, could lift growth moderately higher in Q3, from the moribund 1.5% pace recorded in Q2," commented Kathy Bostjancic, director of Macroeconomic Analysis for The Conference Board. "However, lackluster demand remains the biggest corporate challenge in the second half of 2012. Without a large improvement in confidence and spending, job gains are unlikely to gather steam." 

Popular Sponsored Recommendations

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Electric Vehicles Spark New Opportunities in the Automotive Industry

Dec. 4, 2023
Automakers have increased plans to produce Electric Vehicles to meet customer demand for low emissions. With this radical shift, new opportunities and challenges for the auto ...

What Does Agility Look Like for Today's Auto Industry?

Dec. 4, 2023
Without modern technologies, enterprises aren't able to fully analyze the risks and respond to ongoing supply chain issues and semiconductor shortages.

Five Ways Aerospace and Defense MRO Can Prepare for the New Normal!

Dec. 6, 2023
The right tools can help A&D suppliers track the essentials & ultimately, boost their margins. Advanced analytics can also help determine the profitability of contracts, drive...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!