Input Stories

Input Stories

Job Openings Dip, Manufacturing Activity Improves Slightly

U.S. manufacturing job openings declined in November to a four-month low, according to the Bureau of Labor Statistics.

  • Meanwhile, U.S. manufacturing contracted in December, but more slowly than in recent months, Reuters reports.

What’s going on: There were 547,000 manufacturing job openings in November, a decline from 561,000 in September.

  • Manufacturers hired 358,000 workers in November, the fewest since July 2020.
  • In the larger economy, November saw a seasonally adjusted 8.79 million job openings, down from October’s upwardly revised 8.85 million, according to CNN.
  • The Institute for Supply Management’s PMI increased to 47.4 in December after remaining at 46.7 for two straight months, according to Reuters. A PMI below 50 indicates contraction.

What it means:  November’s manufacturing job openings numbers are “a sign that churn, which has been a major issue for manufacturers amid a tight labor market, has eased significantly, approaching (but still above, for now) pre-pandemic levels,” said NAM Chief Economist Chad Moutray.

View More