ISM Report, BLS Data Show March Growth in Manufacturing

A pair of key reports for manufacturers show manufacturing job growth is accelerating. The monthly jobs report for March, released April 1 by the Bureau of Labor Statistics, showed that manufacturing hired approximately 38,000 new workers last month, including 11,000 in transportation equipment. Elsewhere, the Institute for Supply Management showed that manufacturing growth continued in March, albeit at a slower rate than previously. The Institute’s manufacturing PMI fell 1.5 points to 57.1% as two primary indicators—new orders and production indexes—fell but were buttressed by a third, the rising employment index.