U.S. manufacturing industry lost 1,000 jobs in May, ending five-month growth streak

by Talk Business & Politics staff (staff2@talkbusiness.net) 35 views 

One U.S. manufacturing trade association has a message for Washington, particularly congressional leaders: talk is no longer enough; more leadership is now required.

The manufacturing sector had gained more than 70,000 jobs since December, but the month of May saw a small portion of those gains recede. According to the latest employment data from the Labor Department, manufacturing lost 1,000 jobs in May, breaking a five-month streak of factory job growth.

The Commerce Department also reported on Friday (June 2) that the goods and services deficit had reached $47.6 billion in April, up $2.3 billion. The goods deficit with China reached $32.1 billion.

Alliance for American Manufacturing (AAM) President Scott Paul called the month’s loss of manufacturing jobs “a stark reminder of the challenges that face factory workers: declining auto sales, a persistently high goods trade deficit, and muddled fiscal policies.”

Paul continued: “While the administration has initiated several trade reviews that could level the global playing field, they have yet to bear fruit. Good public policy can support new job opportunities in manufacturing, but Congress is no closer to boosting infrastructure investment, and a pro-jobs tax reform effort seems like a fading possibility. Policy solutions require leadership.”