General

Employment Report: Nonfarm payroll employment increased by 172,000 in May, coming in above expectations. Meanwhile, March’s job gain was revised upward by 29,000 to a gain of 214,000, while April’s job gain was revised upward by 64,000 to 179,000 jobs. The 12-month average stands at 42,000 job gains per month. Leisure and hospitality exhibited the most significant job gain, adding 70,000 in May. At the same time, the unemployment rate stayed the same from April at 4.3%, while the labor force participation rate was unchanged at 61.8% but is down from 62.4% in May 2025.

Manufacturing employment stepped up by 7,000 in May after staying the same in April. On the other hand, the collective job gains in March and April of 13,000 were revised upward by 2,000 jobs to an increase of 15,000 jobs. Manufacturing employment is down 46,000 over the year. Durable goods manufacturing employment rose by 17,000 in May, while nondurable goods employment fell by 10,000. The most significant gain in manufacturing in May occurred in fabricated metal product manufacturing, which added 6,700 jobs over the month. Meanwhile, the most significant loss occurred in plastics and rubber products manufacturing, which shed 6,100 jobs over the month.

The employment-population ratio edged up 0.1 percentage point from April to 59.2% in May but is down 0.5 percentage points from a year ago. Meanwhile, employed persons who are part-time workers for economic reasons fell by 137,000 from April to 4.8 million in May and are up from 4.6 million in May 2025. Native-born employment is up 294,000 from April but down 396,000 over the year. Meanwhile, foreign-born employment is down 176,000 in May and 107,000 over the year. At the same time, the native-born unemployment rate is up 0.1 percentage point over the year to 4.2% in May, while the foreign-born unemployment rate is down 0.2 percentage points to 3.5%.

Average hourly earnings for all private nonfarm employees rose 0.3%, or 12 cents, reaching $37.53. Over the past year, earnings have grown 3.4%. The average workweek for all employees stayed the same at 34.3 hours and was unchanged at 40.4 hours for manufacturing employees.

Job Openings and Labor Turnover Survey: Job openings for manufacturing rose by 24,000 to 474,000 in April. At the same time, the March job openings level of 450,000 was revised downward from 462,000 in the previous report. Nondurable goods openings in April stayed the same at 153,000, while durable goods job openings moved up 25,000 to 321,000. The manufacturing job openings rate ticked up to 3.6% from 3.4% in March and was up from 2.9% the previous year. The rate for nondurable goods manufacturing was unchanged at 3.1%, and the durable goods manufacturing rate increased 0.2 percentage points to 3.9%.

In the larger economy, the number of job openings advanced to 7.6 million, a gain of 731,000 from March and 520,000 higher than the previous year. The job openings rate stepped up to 4.6% from 4.2% in March and 4.3% in April 2025. This data reflects an overall labor market that has eased back to pre-pandemic levels but continues to remain relatively tight from a historical perspective.

The number of hires in the overall economy declined 419,000 to 5.1 million in April and 275,000 below the previous year. The hires rate for the overall economy moved down 0.3 percentage points in April to 3.2%. Meanwhile, the hires rate for manufacturing edged down to 2.3% from 2.4% in March and 2.5% in April 2025. The hires rate for durable goods was unchanged at 2.1%, while the hires rate for nondurable goods fell 0.6 percentage points to 2.4%.

In the larger economy, total separations, which include quits, layoffs, discharges and other separations, decreased 399,000 from March to 5.0 million and 292,000 from the previous year. The total separations rate declined 0.3 percentage points to 3.1% for the overall economy but stayed the same for manufacturing at 2.2%, though down from 2.5% the year prior. Within that rate, layoffs and discharges edged up 5,000 in April for manufacturing, while quits ticked down by 1,000. The quit and layoff rates continued to remain lower for manufacturing than the total nonfarm sector.

J.P. Morgan Global Manufacturing PMI: In May, growth in global manufacturing activity was unchanged from April at 52.6. Output and new orders both improved as manufacturing production growth hit a near five-year high. Meanwhile, lead times remained elevated at the greatest level since August 2022. Employment rose slightly, and inventory levels continued to grow as firms prepare for anticipated supply chain disruptions and further cost increases.

Taiwan, the Netherlands, the U.S. and India had the highest PMI readings in May. On the other hand, Russia, Brazil and Mexico were some of the larger nations to register declines in activity. The acceleration growth in manufacturing production occurred across consumer, intermediate and investment goods.

Meanwhile, input and output price pressures continued to surge as the rate of growth for selling prices remained near a 45-month high. At the same time, business optimism dipped to a seven-month low amid rising cost pressures and supply chain disruptions. Geopolitical uncertainty continued to weigh on sentiment as input costs rose to the highest level in almost four years.

Factory Orders: New orders for manufactured goods increased 4.8% in April after moving up 1.8% in March. Meanwhile, new orders for manufactured goods rose 6.0% over the year. When excluding transportation, new orders stepped up 1.3% over the month and 4.6% year-over-year in April. Orders for durable goods jumped 8.0%, following a 1.3% uptick in March. Year to date, durable goods orders advanced 9.3%. Meanwhile, nondurable goods orders increased 1.4% after rising 2.3% in March. At the same time, nondurable goods orders grew 2.7% over the year.

In April, the largest monthly increase occurred in nondefense aircraft and parts, which surged 165.9% after declining 23.0% in March. The largest decline occurred in electromedical, measuring and control instruments, which fell 5.1% after rising 8.9% the prior month. The largest over-the-year changes occurred in industrial machinery (up 34.9%) and photographic equipment (down 13.3%).

Factory shipments rose 1.0% in April, after increasing 1.5% in March. Shipments grew 5.2% over the year. Shipments excluding transportation stepped up 1.0% in April, following a 1.7% uptick the previous month. Shipments for durable goods moved up 0.6% in April, following a 0.8% rise in March, and are up 7.7% year to date. Meanwhile, nondurable goods shipments increased 1.4%, after advancing 2.3% the prior month, and are up 2.7% year to date.

Unfilled orders for all manufacturing industries rose 1.7% in April, after ticking up 0.2% in March. Unfilled orders over the year jumped 11.5%. Inventories increased 0.3% month-over-month and 1.7% year-over-year. The inventories-to-shipments ratio edged down from 1.51 in March to 1.50 in April. The unfilled orders-to-shipments ratio for durable goods moved up from 6.88 in March to 6.95 in April.

S&P Global U.S. Manufacturing PMI: The S&P Global U.S. Manufacturing PMI was 55.1 in May, up from 54.5 in April, signaling stronger growth. Production rose at its fastest pace in over four years, accelerating from April. Supported by domestic demand, new orders continued to grow but at a softer pace than in April. At the same time, employment improved while optimism fell to its lowest level in four months.

The growth in production and new orders was driven by companies purchasing safety stock in anticipation of price increases and supply disruption. Furthermore, the conflict in the Middle East has led to further increases in input and output costs, with both rising at the fastest pace since 2022.

Additionally, supply disruptions persist as lead times deteriorated at their worst rate since August 2022. Meanwhile, stock of finished goods rose for the second consecutive month and at the quickest pace since November. Despite lowered optimism, firms anticipate higher sales and production going forward and have increased hiring plans.

Nathan Silvernail is no stranger to launching a bold idea. After seven years at SpaceX helping build the Falcon 9 and Crew Dragon, he took that first-principles mindset and applied it to an entirely different challenge: reinventing how to make one of the world’s most fundamental materials.

As co-founder and CEO of Plantd, Nathan is building a new kind of “wood”—one that doesn’t come from trees but instead from fast-growing, sustainable biomass. This new material is designed to be carbon negative and a durable alternative to traditional wood products used in construction.

Outside of work, he’s an avid pilot, even flying aerobatics—an extension of his longtime passion for aerospace and engineering.

In this latest installment of the NAM’s “Forge Your Path” series, Nathan shares lessons from scaling teams at SpaceX, his approach to leadership and why rethinking manufacturing from the ground up can unlock entirely new possibilities.

Q: What is one lesson or insight you’ve gained in leadership that you haven’t widely shared before but that has been a key part of your or your company’s success?

Nathan: “I’d say it’s really about the energy you bring as a leader. Early on—whether you’re an engineering lead or a supervisor—you don’t always realize how much your team depends on your energy and direction.

I learned that quickly at SpaceX. I went from being an individual contributor to managing a team of about 20 people. Each person needs time—one-on-ones, reviewing work, team meetings—and you have to figure out how to manage that effectively.

When you’re already stretched thin, like when you’re running a company, it becomes even more important. I don’t think I’ve mastered it, but being intentional about where I spend my time, who needs more attention and how I communicate that has been critical.”

Q: Can you share a quote or mantra that defines your approach to leadership?

Nathan: “I tend to say, ‘No noise, all signal.’ That’s really my ethos—in leadership, engineering, business and even my personal life.

Time is limited, and when you have a lot to accomplish, you need to make sure the people in the room are adding value. A lot of conversations can get bogged down with unnecessary detail or noise. I try to push toward clarity—getting to the point and focusing on what actually matters.”

Q: What accomplishments at your organization are you the proudest of and why?

Nathan: “We’ve effectively redefined engineered lumber manufacturing. Instead of trying to optimize what already exists, we broke the system down to first principles—what are the right decisions and why?

Our focus has always been on carbon sequestration, efficiency and sustainability—not just financial outcomes. From there, we rebuilt the process.

Traditional systems can involve massive, centralized facilities with huge capital requirements. We’ve broken that down into smaller, more flexible systems that can scale over time with much lower upfront investment. That allows us to generate revenue faster and expand more efficiently.

That mindset—simplify, reduce parts and vertically integrate—comes directly from my time at SpaceX and the emphasis on first-principles thinking.”

Q: Where do you see your company in the next 5–10 years, and what are you hoping to achieve?

Nathan: “Long term, the goal is to transform the entire lumber industry. We’ve developed a system that can produce multiple types of engineered lumber using different biomass sources, ideally close to where materials are sourced or used. That creates efficiencies across the board.

In the next five years, I want us to reach the production capacity of a mid-sized mill—around 15 million oriented strand board panels per year—with multiple machines deployed across the country. From there, we can expand to other products, other builders and potentially other markets.

Ultimately, we want to remove the need for trees in a large portion of homebuilding. About 43% of a single-family home is lumber, and there’s a real opportunity to rethink that—from cost to sustainability to supply chain.”

Q: Is there a book that you have read or a podcast that you have listened to that you would recommend to your peers and why?

Nathan: “I haven’t been reading as much lately, but I do watch the ‘Diary of a CEO’ podcast quite a bit, which features a wide range of leaders and experts and really digs into how they think—uncovering lessons and insights that can help people be more effective and successful. I find it valuable because it covers a wide range of perspectives.

More broadly, I tend to study leaders and companies that resonate with me. I’ve looked at how Nvidia operates and drawn some parallels. But honestly, I’ve probably learned the most from Elon Musk—both in how to think about problems and, in some cases, how not to.”

Washington, D.C. – The Manufacturing Leadership Council, the digital transformation division of the National Association of Manufacturers, today announced the appointment of Ron Castro, vice president and chief supply chain officer at IBM, as chairman of the MLC Board of Governors, and Will Bonifant, group vice president and chief supply chain officer at Hormel Foods, as vice chairman.

The MLC Board of Governors is a distinguished advisory body composed of senior manufacturing executives who provide strategic guidance to the council on its critical issues agenda, research initiatives and programs designed to help manufacturers advance on their Manufacturing 4.0 journeys.

“Ron and Will bring exceptional leadership experience, deep operational expertise and a strong commitment to advancing digital transformation in manufacturing,” said David R. Brousell, founder, executive director and vice president of the Manufacturing Leadership Council. “Their perspectives will be invaluable as the MLC continues to help manufacturing leaders navigate an increasingly complex and technology-driven environment.”

As chairman, Castro will help guide the strategic direction of the MLC at a time when manufacturers are accelerating the adoption of advanced technologies across operations and supply chains. At IBM, Castro leads global supply chain operations and has been instrumental in driving the development of an end-to-end, AI-enabled supply chain that integrates advanced analytics, automation and cognitive technologies to improve performance, resilience and decision-making.

“It is an honor to serve as chairman of the Manufacturing Leadership Council Board of Governors,” said Castro. “The MLC plays a critical role in bringing manufacturing leaders together to share insights, challenge conventional thinking and accelerate progress toward Manufacturing 4.0. I look forward to working closely with the board and the MLC leadership team to further strengthen the council’s impact across the industry.”

Bonifant, as vice chairman, brings extensive global supply chain and operations leadership experience spanning food and consumer packaged goods manufacturing, engineering, strategy and organizational transformation. In his role at Hormel Foods, Bonifant oversees the company’s global supply chain, including procurement, manufacturing, planning, logistics, engineering and supply chain innovation. Prior to joining Hormel Foods, he held senior supply chain leadership roles at The Hershey Company and earlier served as a management consultant and U.S. Navy officer.

“I’m honored to take on the role of vice chairman of the MLC Board of Governors,” said Bonifant. “The council’s focus on the intersection of technology, leadership and operations is more important than ever, and I look forward to contributing to its mission of helping manufacturers build more agile, resilient and digitally enabled enterprises.”

The Manufacturing Leadership Council is the nation’s foremost executive leadership organization dedicated exclusively to digital transformation in manufacturing. Through research, events, peer networking and thought leadership, the MLC helps manufacturing executives understand and act on the technological, organizational and leadership dimensions of Manufacturing 4.0.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

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PHOENIX – Following the announcement of the United States military operations in Iran, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Manufacturers in the United States have always stood ready when our nation calls. From serving as the Arsenal of Democracy to equipping those who defend freedom today, our industry has the capacity to support U.S. objectives across multiple theaters and sustained operations. Today, manufacturers honor the courage and commitment of the men and women in uniform who stand watch and carry out this mission.

“Since November 4, 1979, the United States has endured hostility and terrorism from a rogue government in Tehran. Time and again, the Iranian regime has sponsored international terrorism, destabilized its region, violated the rights of its own people and disrupted legitimate commerce and maritime security.

“Through Operation Epic Fury, President Trump has initiated major combat operations with these stated objectives:

• Eliminating imminent threats posed by the regime,
• Preventing Iran from developing nuclear weapons,
• Neutralizing military infrastructure that threatens regional and global security,
• Countering destabilizing regional aggression, and
• Supporting the Iranian people’s right to determine their own future.

“At moments of consequence, national unity matters. Congress should fully engage to ensure clarity of mission, alignment of authority and the sustained support of the American people.

“We also call upon allied governments and partner business associations around the globe to stand together to protect regional stability, safeguard global commerce and reinforce the collective resolve that keeps peace through credible strength.

“When security, commerce and liberty are threatened, the United States must lead with strength, resolve and the support of its people.”

-NAM- 

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org. 

Washington, D.C. – Ahead of the 2026 State of the Union address, National Association of Manufacturers President and CEO Jay Timmons released the following statement during the NAM State of Manufacturing Tour:

“The state of manufacturing is boundless if policymakers will help clear the skies. For America to lead, now and in the long run, manufacturers need a policy framework that makes the United States the best place in the world to make things—one that lowers the cost of doing business.

“Thanks to President Trump, leaders in his Cabinet and in Congress, the 2017 provisions of the Tax Cuts and Jobs Act were not just made permanent—they were made even stronger. And in doing so, we saved 6 million jobs. The tax and investment incentives in H.R. 1 amount to the most significant economic transformation in the history of our industry and is rocket fuel for manufacturers.

“Yet no rocket can launch until the skies are clear, the outlook is stable and the conditions are certain. Manufacturers need certainty because uncertainty chokes investment—and volatility chokes growth. To deliver the stability that manufacturers need to launch, the White House and Congress need to secure the rest of the NAM’s comprehensive manufacturing strategy.

“That means embracing an all-of-the-above energy strategy, delivering real permitting reform, driving the funding we need for modern infrastructure, modernizing regulations, investing in our workforce, fixing our immigration system, and instituting strategic trade policies.

“Every part and every policy must work together.

“If our nation’s leaders empower us through investments in smart and sustainable public policy, America’s manufacturers will reach new heights. What better way to honor our nation’s 250th anniversary than to empower us—the 13 million people who make things in America—to deliver the greatest manufacturing era in American history.”

Background: NAM State of Manufacturing Tour

Spanning seven states—New York, Ohio, Pennsylvania, North Carolina, Wisconsin, Texas and Arizona—the tour brings together manufacturing leaders, workers, educators, students and elected officials to highlight the policies and conditions needed for the United States to compete and win in a global economy, focusing on innovation, tax policy, permitting reform, energy dominance, workforce and trade policy.

-NAM- 

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

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Washington, D.C. – The National Association of Manufacturers today announced new leadership for its Council of Manufacturing Associations following the CMA 2026 Winter Leadership Conference. Corey Rosenbusch, president and CEO of The Fertilizer Institute, will take over as chair, and Kelly Mariotti, president and CEO of the Association of Home Appliance Manufacturers, will serve as vice chair.

“Manufacturers are doing what we’ve always done: pioneering innovation, powering the economy and responding to dynamic markets,” said Rosenbusch. “There’s no better time to be in manufacturing, and I’m thrilled—and honored—to lead the CMA as manufacturers navigate a new era in our industry. The mission of the CMA has never been more important. I hope that in this position I can illustrate the vital role manufacturing plays across every segment of the U.S. economy.”

The CMA is made up of over 200 industry-specific manufacturing associations representing 130,000 companies and works with the NAM to build partnership and collaboration across the manufacturing industry and larger business community to align strategies to increase manufacturing jobs and encourage investment.

“Corey and Kelly are proven, respected leaders, and both of them have demonstrated a deep dedication to the CMA’s mission and growth,” said NAM President and CEO Jay Timmons. “I’m grateful they’ve agreed to step into these leadership roles during a pivotal time for our industry. With Corey and Kelly’s partnership, manufacturers will build on our momentum after our recent success in securing pro-growth tax reform—and we will advance a comprehensive manufacturing strategy that unlocks opportunities for every sector represented in the CMA and for every manufacturer across the United States.”

Before leading The Fertilizer Institute, Rosenbusch served as president and CEO of the Global Cold Chain Alliance and as vice chair of the CMA under the previous chair, Alison Bodor.

The CMA also appointed new members to the 2026 board:

• Frank Hugelmeyer, president and CEO, National Marine Manufacturers Association
• Matt Seaholm, president and CEO, The Plastics Industry Association
• Megan Tanel, president and CEO, Association of Equipment Manufacturers

 –NAM-

 The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.90 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

733 10th St. NW, Suite 700 • Washington, DC 20001 • (202) 637-3000