During September, he manufacturing employment decreased at monthly rate.
Regarding August and with seasonally adjusted figures, the total employed personnel decreased -0.1%, due to a fall of the same magnitude in personnel dependent on the company name, which was not compensated by the 2.4% increase in personnel not dependent on the company name.
Hours worked, meanwhile, fell -0.2%, repeating the employment behavior, with a -0.2% drop in hours worked by employed personnel dependent on the company name and an increase of 1.0% in hours worked by non-employed personnel. dependent on the company name.
Real average compensation paid fell -1.3%, from last month’s 2.0% increase, with declines in both components. At an annual rate, only salaries were in positive territory, with a growth of 2.7% (seasonally adjusted figures).
You might be interested in: Boost for local companies, nearshoring will improve: Altagracia Gómez
An analysis of Citibanamex considered that this indicator has maintained positive annual variations since September 2020.
“In contrast, total employed personnel fell -1.6%, while hours worked decreased -2.1%. “Both indicators have recorded annual declines since March 2023.” The greatest drop in employed personnel was observed in the production of leather products.
Related
Which manufacturing sectors are currently most affected by job losses and supply chain issues?
Sure! Here’s an engaging interview between a Time.news editor and an expert in the field based on the provided information:
Time.news Editor (TNE): Welcome to our segment today! We’re diving into a crucial topic: the recent changes in manufacturing employment. Joining us is Dr. Jane Thompson, an economist specializing in labor markets. Dr. Thompson, thank you for being here!
Dr. Jane Thompson (DJT): Thank you for having me! It’s great to be here to discuss such an important issue.
TNE: In your analysis, you noted a decrease in manufacturing employment during September. Can you shed light on what might be driving this trend?
DJT: Certainly. Several factors can contribute to employment shifts in manufacturing. We’ve seen fluctuations in demand for products, particularly as consumer behavior shifts and post-pandemic recovery continues to unfold. Additionally, global supply chain disruptions can impact production rates and, consequently, hiring in this sector.
TNE: That’s insightful. Are there specific industries within manufacturing that are more affected by these changes?
DJT: Yes, some sectors like automotive and electronics have been particularly vulnerable. They rely heavily on just-in-time inventory systems and are sensitive to even minor disruptions in the supply chain. For instance, semiconductor shortages have profoundly impacted automotive production, leading to reduced staffing needs.
TNE: How does a decrease in manufacturing employment affect the broader economy?
DJT: A decline in manufacturing jobs can have a ripple effect. It can lead to reduced consumer spending, as manufacturing workers might cut back on their expenditures if they are worried about job security. Additionally, it can impact local economies, especially in regions that depend heavily on manufacturing jobs.
TNE: With this context in mind, what strategies could be implemented to stabilize manufacturing employment in the coming months?
DJT: To stabilize employment, we need a multi-faceted approach. Investment in automation and upskilling workers can help, as companies look to improve productivity while managing costs. Moreover, enhancing trade policies and ensuring semiconductor manufacturing is boosted domestically could alleviate some supply chain pain points.
TNE: Those are proactive strategies! what should policymakers focus on as they navigate these employment challenges in the manufacturing sector?
DJT: Policymakers must prioritize resilience in supply chains and support sectors that are lagging in recovery. This includes investing in infrastructure and technology that can foster innovation. Additionally, enhancing worker support through retraining programs can help transition employees into more stable, forward-looking sectors.
TNE: Thank you so much, Dr. Thompson. Your insights are invaluable as we continue to monitor this situation. We’ll be sure to follow up on these developments in the coming months!
DJT: My pleasure! Thank you for the opportunity to discuss these significant issues.
Feel free to adjust any part of the interview to better align with the needs!