Washington, D.C. – Manufacturing gained 11,000 jobs in April, according to data released by the Bureau of Labor Statistics on Friday, but rising interest rates test the sector’s resiliency.
Alliance for American Manufacturing President Scott Paul said:
“While any gain in factory jobs is welcome news, April’s addition is quite modest, and it’s clear the sector has been stalled for a quarter. The Federal Reserve’s rate hikes have taken a toll on manufacturing job growth. I’m hopeful that has come to an end.
“Let’s not forget the surge of new factory announcements over the past two years and the future jobs they will support. That’s a reason to be optimistic about American manufacturing as we look ahead.”