{"id":345455,"date":"2025-07-05T15:53:00","date_gmt":"2025-07-05T20:53:00","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/07\/05\/manufacturing-employment-hours-down-econbrowser\/"},"modified":"2025-07-05T15:53:00","modified_gmt":"2025-07-05T20:53:00","slug":"manufacturing-employment-hours-down-econbrowser","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/07\/05\/manufacturing-employment-hours-down-econbrowser\/","title":{"rendered":"Manufacturing Employment, Hours Down | Econbrowser"},"content":{"rendered":"

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So the sector overall looks like it\u2019s in the doldrums:<\/p>\n

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Figure 1:<\/strong> Manufacturing production (blue), value added in 2017$ (red), employment (production and nonsupervisory) (tan), hours (light green) all in logs, 2024M04=0; and capacity utilization (NAICS), % (black, right scale). Aggregate hours of production workers calculated by multiplying average weekly hours by employees. Dashed red line at \u201cLiberation Day\u201d. Source: Federal Reserve, BEA, BLS, and author\u2019s calculations.<\/em><\/p>\n

Manufacturing ISM PMI (new orders) still down:<\/p>\n

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Source:<\/strong> TradingEconomics.com accessed 7\/5.<\/em><\/p>\n

EJ Antoni<\/a> notes the slide in manufacturing employment, but pins his hopes on trade \u201cdeals\u201d, to wit:<\/p>\n

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Slide in manufacturing jobs continued in Jun, in line w\/ survey data from PMIs, regional Fed banks, and others; if trade deals can be reached soon, this will likely reverse; remember that more than half of what we import in the U.S. are inputs that will eventually be exported.<\/p>\n<\/blockquote>\n

With two \u201cdeals\u201d (more like a memoranda of understanding) set, still about 88 to go by Wednesday, or\u2026<\/p>\n<\/p><\/div>\n

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