According to Bureau of Labor Statistics, Manufacturing employment took a dip in March by 29,000 jobs. Two big stories at the end of March continue to be economic growth and personal consumption growth, yet American manufacturing continued to deal with global turmoil. While March growth appears positive, including new orders according to the Institute of Supply management, it remains a soft spot for the U.S. economy. Especially with the federal rate increase and a stronger dollar around the globe, things could remain flat from last year for U.S. producers.
Construction of factories took a slight hit in February, however overall construction remains at its highest level since October 2007. This, along with durable goods spending, should continue to have a positive impact on manufacturing stability. Additionally, Presidential candidates are bringing their pitch on manufacturing investments front and center on the campaign trail.
The staffing industry continues to experience consistent manufacturing, engineering and project management requisitions, which is a positive indicator entering Q2. Experts attribute this to natural attrition, baby boomer retirements and an increase in capital investments in equipment and plant improvements will continue to drive the need for highly technical professionals.