The Department of Labor reported this morning that America's manufacturing sector lost 1,000 jobs in March.
The #AAMeter, which tracks President Obama's promise to create 1 million new manufacturing jobs in his second term, decreased to +372,000 jobs, after revisions to previous months' data.
Said Alliance for American Manufacturing President Scott Paul:
“That was one wretched jobs report for manufacturing. Losses in March combined with steep downward revisions in January and February have washed away the narrative of a resurgent manufacturing base. The effects of the strong dollar are clear: it’s a big loser for factory jobs in the United States. And surging steel imports of steel are already contributing to mass layoffs.
“There's plenty that could be done to turn this around. The Treasury should crack down on currency manipulators, the Federal Reserve shouldn’t act prematurely, USTR should be assertive about enforcing our trade laws, and Congress must address currency and trade enforcement in the context of new trade legislation.”
The #AAMeter: During his re-election campaign, President Obama set a goal of creating 1 million new manufacturing jobs in his second term. The Alliance for American Manufacturing continues to track the president's progress via our monthly manufacturing jobs tracker, the #AAMeter, based on monthly jobs data from the Bureau of Labor Statistics.