Economy

Manufacturing Sector Loses 6,000 Jobs in March
Written by Sandy Williams
April 6, 2019
The U.S. manufacturing sector lost 6,000 jobs in March primarily due to employment losses in the auto industry. In February, the sector gained 1,000 jobs, but was far below the average of 22,000 jobs gained per month in the prior 12 months.
Alliance for American Manufacturing President Scott Paul said of the latest employment figures:
“The disappointing manufacturing jobs number for March tells an all-too-familiar tale for factory workers: Plant closings have devastating impacts. The General Motors shutdown will continue to have a ripple effect throughout impacted communities and suppliers, in addition to the thousands of autoworker families facing uncertain futures.
“There are some things the president and Congress can do right now to brighten the days ahead for manufacturing: Conclude a meaningful China trade deal; pass a robust infrastructure plan to rebuild America with our own workers, iron, and steel; and enhance skills training and apprenticeship opportunities for the makers of the future.”
Economists are starting to see less “fairy dust” emanating from the “Magic Wand for manufacturing” that Trump touted on Twitter in January.
Manufacturers have been hit hard by higher costs caused by tariffs, trade wars and waning global demand. Additionally, the benefits from the Trump tax cuts are starting to dwindle. Friday’s job report from the Labor Department ended 19 consecutive months of employment gains, making it just short of the longest run for factory employment since the mid-1980s.
Manufacturing remains generally strong, however. Businesses are still optimistic despite talk of a slowdown. The Institute for Supply Management reported that the manufacturing PMI for March rose 1.1. points to 55.3 after posting a downward trend in recent months. ISM’s break-even point for growth for the sector is 55, but the three-month trend appears promising for now.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]

Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.

ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.