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Jan. 9, 2013
Manufacturing Adds 25,000 Jobs in December
The U.S. manufacturing sector added 25,000 net new workers in December, its strongest monthly gain since March, according to the latest government data.
Over the course of 2012, manufacturers hired an additional 180,000 workers, or 10 percent of all new nonfarm payroll jobs, the majority of which were created in the first half of 2012. "This was slower growth than we had hoped to see," says Chad Moutray, chief economist for the National Association of Manufacturers, Washington, D.C. "Clearly the fiscal cliff and other uncertainties had an impact in the second half of the year."
Looking more specifically at the December manufacturing employment numbers, durable and nondurable goods sectors added 11,000 and 14,000 workers, respectively. Most of these gains can be largely attributed to rebuilding after Hurricane Sandy, as construction jobs also saw an increase of 30,000.
The largest gains were seen in motor vehicle and parts, up 4,800; food manufacturing, up 4,500; chemical, up 4,300; nonmetallic mineral products, up 3,500; plastics and rubber products, up 2,100; and machinery, up 2,000.
Even with this uptick in December, the data show several areas of weakness in manufacturing, including electrical equipment and appliances, down 2,100, and fabricated metal products, down 700.
The December jobs report shows an economy that is growing modestly, but not enough to bring down the unemployment rate in a material way, Moutray says. Overall U.S. unemployment remains elevated at 7.8 percent, with real unemployment unchanged at 14.4 percent.
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