🚨US manufacturing jobs are PLUMMETING at an alarming pace
The U.S. manufacturing sector is facing a significant downturn, marked by a steady decline in employment that has now wiped out post-pandemic gains.
Here are the key takeaways from the recent data:
Sustained Decline: December saw a loss of 8,000 manufacturing jobs, marking the eighth consecutive month of contraction.
Long-term Trend: The industry has seen job losses in 21 of the last 36 months, signaling a persistent struggle rather than a temporary dip.
Three-Year Low: Total employment in the sector has fallen to 12.692 million, the lowest level since March 2022.
Pre-Pandemic Regression: Crucially, manufacturing payrolls have now dropped below levels seen before the COVID-19 pandemic, highlighting the severity of the current industrial slump.