Last updateThu, 23 May 2019 6pm


Exports Prop Up Manufacturing Jobs

The best news about the dismal May employment report may be that it could have been a whole lot worse.

Manufacturing payrolls fell 26,000 last month — no surprise as they’ve now fallen almost two-straight years.

What’s unusual, economists said, is that given the weakness in domestic demand they’re not falling even more. In 2001, the last time the U.S. was in a recession, manufacturing lost an average of over 100,000 jobs per month. So far in 2008, it’s lost an average of 41,000.

Source: Wall Street Journal

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Carbon-Capping Climate Bill Dies in Senate

Legislation that would have set up a cap-and-trade system to limit climate-warming carbon emissions died on Friday after a procedural vote in the Senate.

The bill aimed to cut total U.S. global warming emissions by 66 percent by 2050. Opponents said it would cost U.S. jobs and raise fuel prices in an already pinched American economy.

Source: Reuters

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In a Surprise, Goods Orders Rose in April

Orders for manufactured goods posted a surprisingly strong increase in April as demand rose across a number of industries.

The Commerce Department report on Tuesday said that orders were up 1.1% in April after a 1.5% increase in March. Orders fell in January and March as a spreading slowdown in the overall economy depressed manufacturing activity.

Source: AP

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Senate Votes to Begin Global Warming Debate

The Senate began what is expected to be a weeklong, contentious debate over legislation to combat global warming by mandatory reductions in carbon dioxide and other greenhouse gases.

Senators voted 74-14 to proceed to the bill, but immediately it became clear Republican opponents were not going to make it easy.

Source: AP

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Dollar Slips Versus Euro After Midwest Manufacturing Report

The dollar fell against the euro after an index of Milwaukee-area manufacturing fell to its lowest level in five years.

The National Association of Purchasing Management-Chicago said on Friday its Milwaukee monthly index of regional manufacturing fell to 45, from 48 in April. Figures under 50 indicate contraction.

Source: International Business Times

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