Washington, D.C. – Manufacturing added 8,000 jobs in December, according to data released by the Bureau of Labor Statistics on Friday. Sustaining factory job growth in 2023 will take more attention and investment.
Alliance for American Manufacturing President Scott Paul said:
“2022 was an extraordinary year for factory hiring, although the pace has slowed considerably the past few months. In December, just 8,000 manufacturing jobs were added. One bright spot: durable goods manufacturing, such as automobiles and machinery, continues to add jobs at a robust pace.
“Undoubtedly this slowdown in manufacturing jobs is the result of a convergence of factors, including higher interest rates and a return to a more normalized pattern of consumer spending on services. I’m optimistic for 2023, but it will take full implementation of public investments in infrastructure, clean energy, and semiconductors, as well as more awareness from the Federal Reserve, to keep up the pace of factory hiring we’ve seen over the past couple of years.
“2022 was a year of astounding new factory announcements. President Biden and supporters of these new investments are right to be proud of the progress made so far. But more will need to be done to keep that momentum going this year.”