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Industry News
9th May 2017

Monday Economic Report - May 8, 2017

Manufacturers added 6,000 workers in April, marking the fifth straight month of job gains in the sector. The manufacturing sector has hired 14,200 additional workers on net over the past five months, a notable difference from the more cautious approach to hiring seen before that. Indeed, manufacturing lost 16,000 workers in 2016 as a whole, its first negative year since the Great Recession. The good news is that business leaders are more upbeat in their economic outlook so far in 2017, with demand and production expanding modestly once again. Meanwhile, the unemployment rate fell from 4.5 percent in March to 4.4 percent in April, the lowest level since May 2007. In addition, nonfarm payrolls rose by 211,000 in April, higher than the consensus estimate of around 180,000 and a relatively strong rebound after just 79,000 nonfarm workers hired in March. 

National Association of Manufacturers (NAM)

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