Manufacturing sector sheds 78K jobs in last three months

Published On Nov 4, 2024, 6:04 AM

The U.S. manufacturing sector lost 78,000 jobs over the past three months, with a reported 46,000 jobs lost in October alone. This decline follows earlier losses of 6,000 jobs in September and 26,000 in August, marking a 0.7% decrease in employment over the past six months. Strikes at Boeing and Textron have significantly impacted employment figures, particularly due to disruptions in the transportation equipment manufacturing industry. Job growth in the manufacturing sector has been weak, with the largest gain over the past year being only 25,000 jobs in November 2023.