Manufacturing job openings decrease, Factory orders surprise on the up-side
According to the National Association of Manufacturers’ (NAM) Monday Economic Report for this week, the number of manufacturing job openings in the U.S. decreased in February as did the number of hires, according to new data from the U.S. Bureau of Labor Statistics. Manufacturers hired 330,000 workers in February, down from 383,000 in January and 435,000 in February 2023.
In comparison, new orders for U.S.-manufactured goods increased in February, up 1.4% after dropping 3.8% in January according to the Commerce Department’s Census Bureau. The boost is driven by the demand for machinery and commercial aircraft. Commercial aircraft orders increased 24.5% in February after slumping 63.5% the prior month. Shipments of manufactured durable goods in February increased $3.3 billion or 1.2% to $282.6 billion.