This is the week I highlight further information from last Friday's jobs report.
One thing that struck me is that we've now had two months of declines in manufacturing jobs. This is something I have been anticipating since about the middle of last year, because the manufacturing workweek had been declining significantly, and it has a reliable 80+ year history of leading manufacturing jobs. Here's the entire history measured as YoY% changes:
The manufacturing workweek is down -1.4% YoY. So in the next two graphs I've added +1.4% to that number, so that it is