Wood industry loses 3,000 jobs, manufacturing down 6,000

Photo By Foliot Furniture

Despite the overall U.S. economy adding a significant 196,000 jobs last month, the manufacturing industry lost a total of 6,000 jobs.
New data compiled by the U.S. Bureau of Labor Statistics shows the bulk of the manufacturing losses came from the motorized vehicle industry, non-metallic mineral products, and durable goods, which includes furniture. Wood products lost 3,000 jobs. This is the first loss in quite some time - in the 12 months prior to February, manufacturing added an average of 22,000 jobs each month.
The construction industry was up 16,000 jobs - adding to an increase of 246,000 jobs over the past year.
Total manufacturing jobs number 12.82 million as of March, up from last year's 12.61 million. The industry peaked in 1979 when jobs numbered 19.6 million. The industry low was in February 2010 when jobs numbered 11.45 million.
The overall gain of 196,000 jobs however is significant as analysts had predicted 180,000. It's also much higher than February's gain of just 20,000. The overall unemployment rate was unchanged at 3.8 percent.

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Robert Dalheim

Robert Dalheim is an editor at the Woodworking Network. Along with publishing online news articles, he writes feature stories for the FDMC print publication. He can be reached at [email protected].