Francois Trahan, M²SD’s Post

Manufacturing employment looks strong in the U.S. The sector employed almost 13 million workers and added 8,000 jobs in May of this year. The ISM’s Purchasing Managers Index – used to track U.S factory activity – fell by 0.5 points, showing signs of industry contraction, primarily down to a decrease in new orders. A lot more positivity can be found in the industry’s labor market, though. The PMI’s employment measure rose to 51.1% - its highest level since August 2022 – suggesting that labor conditions are on the up. The U.S. manufacturing sector also boasts an impressively low unemployment rate of 2.7%, compared with the wider economy’s 4%. With 516,000 open jobs – a steep decline from the peak of one million vacancies in 2022 – there are many reasons to be optimistic about the sector’s labor market. Read more here: https://lnkd.in/dReejBAA #Manufacturing #Recruitment #JobMarket

Employers added 272,000 jobs in May, surging up from 175,000 jobs added in April and bursting past economists’ expectations from last month. 🚀 Some economists believe that May’s robust job growth signals sustained economic health. However, others anticipate this surge is headed for a slowdown in the coming months. 📈 The unemployment rate also rose slightly, breaking its 27-month streak below 4%. The Congressional Budget Office (CBO) projects this rate will continue to rise to 4.4% into Q4, echoing the expected downturn in economic growth and slowing demand for workers. 📥 Get the entire June Market Trends Report here: https://bit.ly/3RpUgQH

👨🏭 It's time for the July Market Trends Report👷♀️ 📉 Manufacturing PMI was 48.8% in June, suggesting economic activity in this sector is contracting. Though, when viewed in a larger context over the last few years, this small blip may not raise concerns. 👩⚕️ June brought solid (yet diminishing) job gains month over month — with government and healthcare contributing to nearly 3/4 of the new payrolls 🤔 A slow down in jobs added means now is the time to evaluate your plans for recruiting, onboarding, and training. To ensure that when the time comes, YOU are set up for success. 🏆 Please reach out and I'll let you know how I can help your team with staffing or services to ensure you keep WINNING [email protected] 937-938-0146 #labormarket #economy #jobs #manufacturing #staffing #recruiting https://bit.ly/3WgEri9

Industry Move Trends October 2023 - March 2024   The “Industry Moves Trends” report analyses how much over basic salary hiring managers have been offering in order to successfully attract upper quartile, permanently employed candidates from an industry competitor in the last six months. Combine this with our salary survey for maximum benefit.   Key Findings - Employers currently need to offer, on average, a 13% uplift on existing base salary to attract Procurement and Supply Chain Managers, and a 17% uplift to attract Senior Buyers and Buyers. - The average basic salary increase for Procurement & Supply Chain Managers is over £8,000 but this is more than £2,000 less than it was six months ago. - Most moderate uplift in basic salaries since COVID. - 13% average basic salary uplift needed to secure a move by Procurement and Supply Chain Managers highlights a return to more normal market conditions (i.e. pre-2020), and a sharp reduction from 21% which was the figure a year ago. - Percentage and monetary value differences remains broadly stable for Senior Buyers and Buyers over the last year, highlighting a constant demand for these jobs. https://lnkd.in/eCyXZQfz #ARResourcing #Procurement #Insights

📢 The U.S. initial jobless claims of the previous week stood at 233,000, a decrease of 17,000 from the revised figure of the prior week, and better than the market expectation! 🔎 Amid last week’s weak manufacturing PMI and employment situation data, the market was gripped by fears of an impending economic recession. However, these concerns eased somewhat with the better-than-expected service PMI and jobless claims data. 💡 More analysis from TrendForce: https://buff.ly/4d76syB 🔗 #US #jobless #PMI

Today's job report. Headline number seems strong but.......Manufacturing jobs are down. The largest segment of increase is government jobs which is not positive. Many people LEFT the workforce and are not looking for work so it seems the number is not as strong as the headline. Regardless, interest rates are up a bit this am.

Market-moving Indicators -Initial Jobless Claims - U.S. Thursday, weekly initial jobless claims rose for the first time in six weeks, jumping by 12,000 from last week’s reading to 218,000, against estimates of 210,000.   -Unemployment Rate - Japan Japan’s unemployment rate for November remained as expected the same as in the previous month at 2.5%. The jobs-to-applications ratio came at 1.28, meaning there were 128 job openings for every 100 job seekers in the economy.   -Chicago Purchasing Managers Index (PMI) - U.S. The U.S. Chicago PMI saw a sharp decline below the 50 line to 46.9 in December, down from 55.8 in November, compared to analysts’ consensus of 51, showing a strong contraction in the manufacturing activity in the region.

So where are the jobs that are in demand in the start of 2024? The following in-demand jobs and performing sectors are derived from separate data and reports from the Ministry of Manpower (MOM) and the Ministry of Trade and Industry (Singapore) (MTI). #DollarsAndSense #Jobmarket2024 #jobsearch  

BLS Jobs Report (July 2024) There’s more evidence of weakness in the labor sector. Job growth in July was well below estimates, as the BLS reported that 114K new jobs were created versus the 175K that were forecasted. Revisions to the data for May and June also cut 29K jobs from those months combined. The unemployment rate rose to 4.3%, the highest since 2021.

◦ Consistent downward revisions in the jobs number are concerning The question becomes if this month's jobs number was really a beat. If it is revised below 175,000, then the jobs number missed expectations.