Despite a decline of 1,000 workers compared with February, manufacturing employment remained at a nearly 14-year high in March at 12,983,000, according to an analysis by the Hardwood Federation.
In January, the industry reached its highest employment rate since November 2008 with 12,985,000 workers. However, the industry is showing signs of stalling, as the ISM Manufacturing Purchasing Managers’ Index fell to 46.3 in March, the lowest reading since May 2020. “New orders contracted for the seventh consecutive month, with notable weaknesses in demand cited in the sample comments,” the Hardwood Federation noted.
New orders for manufactured goods fell 0.7% in February, and factory orders declined 0.3%.
The manufacturing sector reported there were 3,775,000 female employees, 29.1% of its total employment, and a gain of 107,000 female workers since February 2020. Male manufacturing employment increased by 91,000 compared with February 2020.
