The following appears in a May 2, 2008, summary of the current employment situation on the Bureau of Labor Statistics website:
"Manufacturing employment fell by 46,000 over the month; nearly all the decline occurred in durable goods manufacturing. In April, large job losses occurred in motor vehicles and parts (-17,000) and in fabricated metal products (-11,000). Declines also occurred in furniture and related products (-4,000) and in semiconductors and electronic components (-3,000). Over the past 12 months, manufacturing employment has declined by 326,000."
The continuing decline in manufacturing employment fits with the increase in the trade deficit during the first quarter.
Howard of Trade-Wars
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