Factories Lose 2,000 Jobs in September
Manufacturing employment dropped in September, with the sector losing 2,000 jobs, the Bureau of Labor Statistics reported on Friday. Motor vehicles and parts saw 4,100 lost jobs, while computer and electronic products gained 3,800 jobs.
Meanwhile, new trade figures showed that the overall goods and services deficit hit $54.9 billion in August, up $0.9 billion from July, while the goods deficit with China reached $28.9 billion.
Alliance for American Manufacturing President Scott Paul said:
September was a lousy month for factory jobs. While many pressures may have contributed to this month's employment decline, one thing is becoming more clear: Manufacturing is weak right now.
There are a couple of policy shifts that could help strengthen the sector. First, passing a robust new investment in our nation’s infrastructure. Second, reconsidering the merits of an overvalued dollar, which is hampering our exports. Third, a final trade agreement with China that will rein in its massive industrial overcapacity and subsidies, and provide our businesses and workers with more certainty and a better playing field.
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