The longest streak of U.S. factory hiring in a quarter century came to an unexpe...
NEW YORK - The longest streak of U.S. factory hiring in a quarter century came to an unexpected end last month, and a clouded outlook for important manufacturing sectors like autos may impede a quick rebound, undermining a key plank of U.S. President Donald Trump’s economic agenda.
As it stands, the just-ended run was the longest since a comparable streak from August 1993 through February 1995 and saw the generation of 410,000 U.S. factory jobs. By comparison, that earlier run during Democrat Bill Clinton’s presidency produced 526,000 new manufacturing positions. A 20-month streak back in the early 1980s generated 1.34 million production jobs.
It showed U.S. employment growth in March accelerating from a 17-month low, signaling that February’s sharp pullback was more likely an anomaly rather than a sign of an impending economic slowdown. Nonfarm payrolls rose by 196,000 jobs for the month, while economists polled by Reuters forecast gains of 180,000 jobs.
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