The Department of Labor reported Friday morning that America’s manufacturing sector gained 28,000 jobs in November.
The #AAMeter, which tracks President Obama's promise to create 1 million new manufacturing jobs in his second term, revs to +257,000 jobs, after positive revisions to October and September’s data.
Additionally, the Commerce Department reported this morning that America's monthly goods trade deficit with China fell slightly to $32.5 billion in October, from an all-time high the month before.
Commented Alliance for American Manufacturing President Scott Paul:
"November's jobs data was good news for the middle class, with manufacturing adding 28,000 jobs. Building on this momentum is key.
"The economy still faces a big weakness in its staggering trade deficit in manufactured goods. Imagine the employment gains we'd see if America increased domestic production, exported more, and imported less. That's where public policy plays a role, but the Obama administration continues to head in the wrong direction. Its failure to stop currency manipulation by China and Japan is taking a big bite out of even stronger jobs data."
AAM sent a letter on Thursday to USTR Michael Froman urging him to address currency manipulation in TPP negotiations.
The #AAMeter: During his re-election campaign, President Obama set a goal of creating 1 million new manufacturing jobs in his second term. AAM continues to track the president’s progress via our monthly manufacturing jobs tracker, the #AAMeter, based on monthly jobs data from the Bureau of Labor Statistics.