Magazine article Economic Trends

Manufacturing Employment

Magazine article Economic Trends

Manufacturing Employment

Article excerpt

06.07.07

The goods-producing industry lost 19,000 jobs in May, which was traced to weakness in durable goods manufacturing. The motor vehicles and parts sector, which employs 7 percent of all manufacturing workers, was responsible for 10,000 job cuts alone.

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Compared to other sectors in the manufacturing industry motor vehicles and parts has been tile most volatile over the last 12 months. It has distinguished itself even among the five weakest sectors (motor vehicles and parts, paper products, textile mills, furniture, and wood products) as the largest contributor to recent job losses. In fact, from May 2006 through May 2007, motor vehicles and parts shed a total of 76,400 jobs (46.6 percent of the decline in manufacturing employment); the remaining sectors in the manufacturing industry--which account for about 93 percent of the industry--lost just 87,600 jobs combined.

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Comparing the employment trends in total manufacturing and manufacturing without motor vehicles and parts reveals the impact of the most troublesome category. …

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