November 15th 2022 11:00:00 AM
Manufacturing and Inventory Jobs Category Adds Most Positions in 2018
February 12th 2019 16:00:00 PM
The numbers for the US job market are in, and the numbers are excellent. The big winner as far as adding jobs in December, 2018 was the manufacturing and inventory sectors. The job market is running on all cylinders, wages are up, and the unemployment rate is down.
Payrolls Up in December
One of the positive points in December was that non-farm payrolls jumped by 312,000 workers. This figure beat all forecasts for the month, and smashed the figure of 176,000 new workers gained in November, according to figures released by the Labor Department.
Average hourly earnings also increased by 3.2 percent from one year ago. Wages are increasing at their fastest level since 2009. At the same time, the unemployment rate increased from a 50-year low to 3.9 percent, which reflected the fact that more people were actively looking for work.
All of this is great news for the economy, which saw the dollar gain strength and stock futures remain high. More people working and with more money in their pockets means they will be putting it back into the economy with higher consumer spending.
Do you need to get down to business in the busy manufacturing and inventory sectors? Let Scanco offer you personalized information and advice for your needs. Contact Scanco online or give us a call at (330) 645-9959 to arrange for your consultation.
Manufacturing Sector Added 32,000 Jobs Added in December
According to the US Bureau of Labor Statistics, the manufacturing sector added 32,000 jobs in December alone. The majority of the job gains (more than 19,000) occurred in the durable goods component.
Over the course of 2018, manufacturing employment climbed by 284,000. About three-quarters of these gains (213,000 jobs) were in durable goods industries. In 2017, manufacturing accounted for 207,000 job gains.
Durable Goods Orders are an economic indicator that is released on a monthly basis by the Census Bureau. It reflects new orders for hard goods placed with domestic manufacturers. Hard goods are items that don’t wear out quickly, such as consumer appliances and electronics, automobiles, furniture, sports equipment, and toys. When sales of durable goods are strong, it’s an indicator that the economy is doing well.
Jobs in Durable Goods
Within the durable goods sector, fabricated metal products added the most jobs with over 7,000 new positions in December 2018. Electronic products was another busy sub-sector, adding more than 4,000 jobs to the US economy in December. Over the course of the entire year, fabricated metal products added 48,000 jobs and electronic products boosted the number of jobs by another 22,000 positions.
Jobs in Transportation and Warehousing
The transportation and warehousing sectors saw the month of December as a relatively flat one for employment growth. Only about 2,000 jobs were created. November was a much better month, when the number of jobs jumped by 29,000. Courier and messenger service jobs declined in December by 5,000 positions; this sub-sector had also seen a notable gain in November of 13,000 jobs.
In the year 2018, transportation and warehousing added 190,000 jobs to the economy. This is more jobs than that sector had added over a calendar year since 2014, when it added 220,000 jobs. The warehousing and storage sector alone was responsible for adding more than 53,000 jobs, with couriers and messengers and truck transportation adding 65,000 and 37,000 jobs, respectively.
Make the Most of Manufacturing and Inventory Software When Talent is in Short Supply
The news about more manufacturing and inventory jobs being available is good for prospective employees. It’s not so positive for employers, who need to deal with a talent shortage.
When it’s challenging to find talent to fill positions and orders still need to be filled, you need to look to all options at your disposal. This includes the warehouse and manufacturing software you use. If you can save time and run your facility more efficiently by automating your manufacturing and inventory processes, would that make sense to you?
Let us work with you to ensure you are using everything at your disposal for maximum efficiency. Contact Scanco online or give us a call at (330) 645-9959 for your consultation.