We like graphs because they tell the story without spin.
Three out of three indicators agree, openings and hires are down, while separations are increasing sharply.
The Bureau of Labor Statistics (BLS) reported that the number of manufacturing job openings dropped from 273,000 in July to 255,000 in August.
This is its lowest level since December 2011, with job postings declining for three straight months.
The other big headline for manufacturing is that net hiring turned negative. The BLS employment report (link to NAM summary) showed that manufacturing jobs decreased in September for the second consecutive month.
In August, manufacturers hired 233,000 workers, down from 244,000 in July. This number is the lowest since June 2009.
At the same time, separations rose from 228,000 to 248,000. Separations include layoffs, quits and retirements.
This suggests net separations of 15,000 workers in August, a reversal of the net hiring of 16,000 observed in July.
So when you hear the rosy numbers from the media trying to “educate” you into thinking their way, why not ask them-
“Can I have a graph with that?”
Graph Courtesy of Chad Moutray, Chief Economist at NAM.