The good news about jobs keeps coming, as job creation in manufacturing in both job vacancies and new hires soared to the highest levels since April 2006.
The Job Openings and Labor Turnover Survey, released by the Department of Labor on Tuesday, includes figures that aren’t in the monthly jobs report. The report includes a higher level of detail.
The report reveals that in March, manufacturing job openings swelled to 394,000, while overall job openings met expectations when they increased from 5.68 million to 5.74 million in March.
The new spring numbers also show the manufacturing sector hires rose to 322,000. Manufacturing hiring declined dramatically during the recession, but now the report shows a positive turn. Monthly hires in April were up nearly a quarter since March 2017.
One important metric of labor market health is the ratio of unemployed workers compared to job openings. That number is at the lowest point since January of 2001, falling to 1.25.
The Job Openings and Labor Turnover Survey is valuable to investors. It will also come as welcome news to the Trump administration. President Trump, who said he would be a good “jobs president,” made manufacturing jobs a priority. His “Buy American, Hire American” executive order was intended to promote U.S. manufacturers and increase jobs in the sector.
Sure enough, President Trump was pleased with the news, as he re-tweeted the announcement Tuesday:
‘Manufacturing openings, hires rise to highest levels of the recovery’https://t.co/txFZDYYIOe
— Donald J. Trump (@realDonaldTrump) May 9, 2017
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