Jobs
US Lost 87,000 Factory Jobs in Otherwise Strong Labor Market
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The US manufacturing sector shed 87,000 jobs last year, the biggest loss since 2009 during the Great Recession excluding the coronavirus pandemic year of 2020.
Manufacturing struggled as many companies limited capital spending amid high borrowing costs and sluggish export markets. The Institute for Supply Management’s gauge of factory activity has been contracting for all but one month in the past two years.