Introduction
In my last post, I addressed the issue of what to look out for as regards construction employment in the jobs report. In this post, I take a look at manufacturing.
Historical relationships between manufacturing hours and employment
The two sets of two graphs below compare manufacturing jobs (blue) and the manufacturing work week (red). Each is broken down into roughly 30-year increments so more detail can be shown.
The first set measures the YoY% change for each of them:
1946-85
1985-2018
The main point of the above two graphs is that, with the