Manufacturing employment rose in September, with durable goods doing the heavy lifting, according to data released today from the Bureau of Labor Statistics.
Manufacturing added 22,000 jobs last month, with durable goods accounting for 16,000, according to a breakdown by industry released by the bureau.
Within durable goods, the biggest lift came from motor vehicles and parts, accounting for a gain of 8,300 jobs.
Employment in the auto industry has been up and down. The industry still is coping with a shortage of semiconductors. The chip shortage, at times, has forced temporary plant shutdowns. Overall demand for pickups and SUVs has remained strong.
Other industries posting job gains included fabricated metal products, up 6,300 jobs, and wood products, up 2,200. Industries with job losses included machinery, down 1,700 jobs.
Manufacturing totaled 12.88 million in September on a seasonally adjusted basis. That was up from an adjusted 12.858 million in August and 12.413 million in September 2021. Manufacturing has added an average of 36,000 jobs a month so far in 2022, the bureau said in a statement.
Total non-farm employment rose by 263,000 jobs in September, the bureau said. The U.S. unemployment rate edged down to 3.5 percent from 3.7 percent the month before.
The Federal Reserve is boosting interest rates to cool the economy and combat inflation. So far that hasn’t increased the unemployment rate. The Institute for Supply Management said earlier this week its manufacturing index shows manufacturing is expanding at a slower rate. That could turn to economic contraction in the coming months, ISM said.
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