Unemployment rate essentially unchanged, but manufacturing employment slightly up

Manufacturing News, Source : TheManufacturer.com
Published : 06 Aug 2004 15:34

The unemployment rate decreased .1 percent to 5.5 percent in July, according to figures released by the Bureau of Labor Statistics of the US Department of Labor today.

Nonfarm payroll employment was little changed at 131.3 million in July; it has risen by 1.5 million since August 2003. About three-fifths of the growth occurred during March, April and May of 2004.

Manufacturing employment edged up in July by 10,000 jobs, after a 1,000-job decrease in June. The sector has added 91,000 jobs since January, with virtually all of the gain in durable goods manufacturing.

Over the month of July, employment grew in machinery, computer and electronic products, and furniture. Employment in transportation equipment fell in July by 21,000 jobs, due to larger-than-usual shutdowns in auto and parts plants for annual retooling.

Meanwhile, the factory workweek edged up by 0.1 hour to 40.9 hours, and factory overtime, at 4.6 hours, was unchanged.

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