While global economic fluctuations sent the stock market on a wild ride in January, the US unemployment rate dropped another 0.1% to 4.9%, which is its lowest level since February 2008. Economists are projecting some more wage and inflation pressure over the next several months as the slack in the job market continues to diminish. Overall employment figures continue to absorb losses with monthly positive job growth results keeping employment numbers steady for another month.
The strong dollar, sluggish global demand and weak commodity prices are still dogging US Manufacturers. But even with flat results US Manufacturing created 29,000 jobs after a relatively stagnant 2015. Food manufacturers alone added 11,000 positions. The ISM manufacturing index reflected a very slight increase in January from 48% to 48.2%. The indexes for new orders and production both climbed above 50 into a growth position for January.
Vice President of Business Development
The Richmond Group USA