Analysis:
- Manufacturing employment rebounded in November, increasing by 54,000 as the GM strike was resolved. This reversed the employment losses recorded in October due to the strike.
- There have been 447,000 manufacturing jobs added since January 2017 relative to a linear trend estimated from January 2015 through December 2016.
Economist Corner:
Employment in the manufacturing sector has experienced a resurgence since December 2016, with 447,000 jobs created relative to trend. This is the product of stronger economic growth that has increased demand for manufactured goods, and the expensing provisions in the Tax Cut and Jobs Act which have increased orders for durable manufactured goods.