by President Trump quickly hopped on the GM strike-end surge in jobs. Let's have a look. Manufacturing Blowout Manufacturing Employment The last two months average +5.5. there is no surge in manufacturing employment. Employment in Motor Vehicles and Parts Average out the last two months and you get an impressive -1 in October and an equally impressive -1 in November. That's a small decline in 7 of the last 9 months. Manufacturing Average Weekly Hours Year-Over-Year Manufacturing Average Weekly Hours Year-Over-Year Detail That chart is the most telling of the lot. Despite the end of the strike there is no improvement in manufacturing hours of actual production workers! Seasonal Adjustments Much of that rebound is related to the GM strike that ended on October 25. Some of it is a
Topics:
Mike Shedlock considers the following as important: Global Economics
This could be interesting, too:
Mike Shedlock writes Fed’s Core Mission Now Includes Climate Change
Mike Shedlock writes 737 Max “Fix” Causes Entire Computer System to Crash
Mike Shedlock writes Trump Nominates Gold Advocate Judy Shelton for the Fed
Mike Shedlock writes Six Reasons Biden-Klobuchar Would be a Strong Presidential Ticket
Manufacturing Blowout
Manufacturing Employment
The last two months average +5.5. there is no surge in manufacturing employment.
Employment in Motor Vehicles and Parts
Average out the last two months and you get an impressive -1 in October and an equally impressive -1 in November. That's a small decline in 7 of the last 9 months.
Manufacturing Average Weekly Hours Year-Over-Year
Manufacturing Average Weekly Hours Year-Over-Year Detail
That chart is the most telling of the lot.
Despite the end of the strike there is no improvement in manufacturing hours of actual production workers!
Seasonal Adjustments
Much of that rebound is related to the GM strike that ended on October 25.
Some of it is a calendar-related seasonal adjustment.
BLS sampling started within days of the strike ending. Then, Thanksgiving came into play giving an additional seasonal boost.
Yet, manufacturing hours of actual production workers did not even budge.
Blowout?
For further discussion of today's jobs report, please see Jobs Surge in Strike-Ending and Seasonal Adjustment Rebound.
Mike "Mish" Shedlock