CHICAGO Employment in
primary metals and the fabricated metals sector took different
paths in April, with producers logging a dip while fabricators
registered a gain.
employment in April totaled 397,000, not seasonally adjusted, a
drop of 400 jobs from the previous month and down 4,600 jobs
year on year. Meanwhile, employment at fabricated metals
product companies was just shy of 1.43 million in April, up
4,100 jobs vs. March and 29,500 jobs higher than in the same
month last year, according to the latest data from the U.S.
Bureau of Labor Statistics.
The report pegged Aprils
overall unemployment rate at 7.5 percent, down from 7.6 percent
Two bright spots were machinery
manufacturing, which added 2,900 jobs month on month; and motor
vehicles and parts, with 1,800 new hires.
The mining sector outside of oil
and gas had 100 fewer jobs in April vs. March and lost 1,300
workers year on year.
The manufacturing sector has
created slightly more net jobs in recent months than initially
estimated, but American industry continues to trail the rest of
the economy in employment gains as the recovery slowly
proceeds, U.S. Business and Industry Council Educational
Foundation research fellow Alan Tonelson said.
Tonelson suggested the
administration halt the proposed Trans-Pacific Partnership
trade deal, respond to currency manipulation, expand "Buy
America" regulations on federal procurement and make other
economic policy changes to aid a recovery.
April payrolls were better than
expected, according to Nariman Behravesh, chief economist at
Lexington, Mass.-based IHS Global Insight Inc., noting that job
gains suggest that there is no evidence yet of a
sequester-induced slowdown in hiring.
However, a positive April report
"does not materially change the view of IHS that both gross
domestic product and jobs growth will slow in the coming
months," he cautioned. The full impact of the sequester cuts
has yet to be feltsuch as in fewer hours worked if not
outright head count reductions"and things will likely get
softer before improving."