Employment Trends in Manufacturing
Despite shifting consumer demand and rising interest rates, manufacturing gained 22,000 new net jobs in August, continuing a year-long run of employment gains. The durable goods subsector gained a respectable 19,000 jobs, while nondurable goods added 3,000. Job gains for nondurable goods were held back by losses in the food manufacturing subsector. Food manufacturing posted a loss of 1,900 in August, the first month of recorded losses in 2022. Among durable goods, motor vehicles and parts lost 1,900 jobs in August following two months of gains in a volatile year. Food and Electrical Equipment and Appliances manufacturing have been gaining jobs at a slower pace than Chemical, Machinery, and Petroleum and Coal Products manufacturing. Petroleum and Coal Products manufacturing growth rates rebounded in August after several months of slowing.
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