(What’s Left of) Our Economy: More Historically Bad Wage News for U.S. Manufacturing Workers

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inflation adjusted wages, Labor Department, manufacturing, private sector, real wages, recovery, wages, {What's Left of) Our Economy

This morning’s real wage data from the Labor Department contained a double dose of bad news for American workers – and in one case, historically bad news.

Just as with a main finding from the pre-inflation wage data released earlier this month along with the monthly Labor Department jobs report, today’s after-inflation figures showed that hourly wages for manufacturing workers fell behind those of private sector workers in general for the first time – at least on a preliminary basis – on record. (These figures for each category of workers were first released in March, 2006).

To achieve this result, price-adjusted hourly pay for private sector workers in July stayed unchanged month-on-month (at $10.76), while such pay for manufacturing workers dipped by 0.09 percent (to $10.75). Price-adjusted wages for the two groups of workers first converged in May at $10.75.

When the initial set of these real wage figures was released more than twelve years ago, constant dollar manufacturing wages exceeded constant dollar overall private sector wages by 3.19 percent.

The new Labor Department data also showed that technical real wage recessions (periods of cumulative decline lasting for two consecutive quarters or more) for both groups of workers continued through July.

In manufacturing, inflation-adjusted wages are down on net by 0.19 percent since January, 2016 – a period of more than two-and-one-half years. In the private sector generally, the real wage recession became one year old, as after-inflation hourly pay is now down 0.19 percent on net since last July.

Manufacturing’s real wage woes were also made clear in its latest year-on-year figures. Since last July, such pay is down 1.56 percent – the worst such annual performance since October, 2012’s 2.09 percent plunge. Between the previous Julys, industry’s real wages grew by 0.65 percent.

In the private sector overall, the newly reported July annual real wage decline of 0.19 percent also contrasts with its own 0.65 percent advance the year before.

During the current economic recovery, which began in mid-2009, real private sector wages are up 4.36 percent. But in the private sector, they’ve improved by only 0.28 percent during this more than nine-year stretch – less than one-fifteenth as fast.

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(What’s Left of) Our Economy: Wage Inflation Warnings Just Got a Lot Funnier – Unless You’re a Worker

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inflation, inflation adjusted wages, manufacturing, private sector, recovery, wages, {What's Left of) Our Economy

Today’s U.S. real wage data from the Bureau of Labor Statistics kept mocking the claims that the United States is teetering on the edge of a dangerous round of wage inflation. In fact, the statistics show that in February, real wage recessions (periods of two quarters of more when after-inflation hourly pay has dropped on net) actually continued.

The month-to-month January-February flat-line in inflation-adjusted private sector wages means that this form of compensation is down cumulatively by 0.28 percent since last May. Worse, January’s 0.19 percent sequential decrease was revised down to a 0.28 percent drop.

In manufacturing, after-inflation wages as of February were 0.19 percent lower than they were in January, 2016. Month-on-month in February, they dipped by 0.09 percent. At least January’s sequential decline of 0.46 percent was revised up – to a 0.37 percent decrease.

Since the onset of the current economic recovery, more than eight years ago, real private sector wages have improved by only 3.98 percent. But that performance is more than ten times better than that of manufacturing, where this pay has grown by only 0.28 percent during that period.

(What’s Left of) Our Economy: Trump & Workers, by the Numbers

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blue-collar workers, construction, healthcare services, Helaine Olen, inflation adjusted wages, Jobs, manufacturing, mining, real private sector, real wages, regulation, Steven Greenhouse, subsidized private sector, The Nation, The New York Times, Trump, unions, wages, workers, {What's Left of) Our Economy

Since Donald Trump first declared his presidential candidacy, he’s been dogged by charges that he’s a phony populist, and that his working class supporters have long been hoodwinked by his promises of restoring factory and other blue collar jobs and living standards. And this past Labor Day inspired the President’s critics to double down, as evinced by this piece by long-time labor reporter Steven Greenhouse in The New York Times and this one by economist Helaine Olen in The Nation.

So it seems appropriate for RealityChek‘s slightly delayed analysis of the latest monthly jobs report to include some data bearing on these questions. The verdict? Whatever anti-union and deregulatory measures the Trump administration has backed, its first months in office overall have been just about as good for blue-collar industries and blue-collar employees as during the latest comparable period during the supposedly worker-friendly Obama administration.

First, the manufacturing highlights of last Friday’s August jobs report:

>August saw the best month of net new job creation in U.S. industry since August, 2014 (36,000 in each month.

>Although the August and July totals are still preliminary, their combined sequential employment increase of 62,000 was the highest such figure since the 68,000 improvement in December, 2011 and January, 2012. This back-to-back total reduces the odds that the August numbers are a fluke.

>On a year-on-year basis, manufacturing’s August gain of 138,000 contrasts strikingly with the 5,000 net job loss in industry between the previous Augusts. In fact, this new annual advance was manufacturing’s strongest since the 139,000 yearly gain in August, 2015.

>Reenforcing this conclusion are the strong upward revisions for monthly manufacturing job growth in June (from an upwardly revised 12,000 to 21,000) and for July (from 16,000 to 26,000)

>Manufacturing has now regained 1.027 million (44.79 percent) of the 2.293 million jobs it lost from the onset of the last recession (at the end of 2007) through its jobs bottom in February and March, 2010.

>Yet manufacturing employment is still down 9.21 percent since the downturn’s beginning. During that period, overall private sector employment is up by 7.23 percent.

>Manufacturing’s wage performance, however, slumped notably in August. Pre-inflation wages sank sequentially by 0.56 percent – the worst such drop since May, 2012’s 0.63 percent.

>It’s true that manufacturing wages have been volatile this year, with July recording a strong month-on-month gain of 0.53 percent. But the yearly August manufacturing wage rise of 1.76 percent not only trailed the previous August-to-August rise of 2.68 percent. It was also the smallest annual increase since July, 2015’s 1.57 percent.

>By contrast, August current dollar wages in the private sector overall were up by 0.11 percent sequentially and 2.53 percent year-on-year. The latter total was just slightly below the 2.55 percent increase achieved between August, 2015 and August, 2016.

>Since the current recovery began, in mid-2009, pre-inflation manufacturing wages have risen by only 15.25 percent total. For the private sector overall, they’ve increased by 19.20 percent.

>As a result, the gap between private sector pre-inflation wage increases and those gains in manufacturing stood at 20.57 percent in August. One encouraging development for manufacturing workers: Last August, the gap was much wider: 27.92 percent.

>On an after-inflation basis, manufacturing’s wage performance remains mixed compared with the rest of the private sector. The latest data are from July, and show a monthly gain of 0.37 percent for manufacturing workers and 0.19 percent for the private sector overall – barely half as much.

>Year-on-year, however, manufacturing’s real wage gains slightly lagged those of the private sector in toto in July – 0.74 percent versus 0.75 percent.

>And the gap is even wider during the current recovery – inflation-adjusted wage gains of only 1.96 percent for manufacturing workers during this more than eight-year period, versus an improvement of 4.75 percent for the entire private sector.

But what about the Trump-Obama comparison? Here are the main numbers, using February as the first plausible month of “Trump-onomics”:

>From this past February through August, total net new U.S. job creation is up by 0.66 percent, versus 0.83 percent from last February through last August – the final such period during Mr. Obama’s presidency. So score one for the previous administration? Maybe. But the economy is also deeper into the recovery, and just about at the official definition of full employment. So it’s natural that job-creation should slow down some.

>Interestingly, the difference is much smaller when looking at private sector job creation. Last February through last August, it grew by 0.84 percent. During the comparable Trump period, it’s increased by 0.79 percent. That’s one sign that the Trump employment performance has been healthier, and therefore more sustainable, because it’s been more private-sector driven, than the late Obama version.

>This difference becomes even more pronounced when looking at trends in the subsidized private sector – those industries traditionally considered private sector (notably healthcare) that nonetheless depend heavily on government subsidies. Hence my decision to place them in a separate category.

>So far this year, under President Trump, subsidized private sector jobs have indeed increased strongly – by 0.95 percent. But that’s a much slower rate of growth than the 1.29 percent recorded during the comparable Obama months.

>As a result, employment growth in the “real” private sector has been faster under Mr. Trump – by 0.76 percent to 0.74 percent – and this, again, despite the arrival of full employment.

>Continuing sector by sector, the statistics show that the some of the biggest employment gains during President Trump’s tenure have taken place in blue-collar heavy industries that performed poorly during the comparable final Obama period.

>Principally, net employment from this past February through August is up by 0.83 percent in manufacturing, by 4.96 percent in mining and logging, and by 0.68 percent in construction.

>The comparable Obama administration numbers: -0.27 percent, -6.90 percent, and +0.63 percent, respectively.

>More broadly, blue-collar employment throughout the entire economy (defined by the Bureau of Labor Statistics as production and non-supervisory workers) has increased at the same pace during the two time periods in question (0.70 percent), though in absolute numbers, the Trump administration gains are a bit larger (714,000) than the corresponding Obama administration advances (701,000) – again, despite the arrival or near-arrival of full employment.

>Where blue-collar workers fared better so far during the Obama period than during the Trump period is on the wage front. But they haven’t fared massively better.

>For all private sector production and non-supervisory workers, pre-inflation wages were up by 1.36 percent during those Obama months, and 1.19 percent during the Trump months.

>The same trends have been visible in the blue-collar industries. During the Obama months in 2016, current-dollar wages rose by 1.78 percent in manufacturing, 0.82 percent in mining and logging, and 2.60 percent in construction.

>The Trump results? 1.26 percent, 0.87 percent, and 1.98 percent, respectively.

>In other words, the only blue-collar sector in which blue-collar workers have outperformed under President Trump has been in the mining sector – which has seen by far the biggest employment outperformance.

Of course, the Trump administration is still pretty young, and any or all of these trends could change, and change dramatically, in the months ahead. But until they do, it’s clear that Mr. Trump’s presidency has neither devastated the workers who supported him so ardently or made their lives Great Again. And any analysts denying that the truth so far lies somewhere in between – including the administration’s own grandstanders – have some explaining to do.

(What’s Left of) Our Economy: Manufacturing’s Out of its (Short Term) Jobs and Wages Doldrums

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Bureau of Labor Statistics, Employment, inflation adjusted wages, Jobs, manufacturing, non-farm payrolls, recession, recovery, wages, {What's Left of) Our Economy

American domestic manufacturing created 16,000 net new jobs in July on month, its best such performance since February’s 22,000. Coupled with a major (11,000) upward revision for June, the figures demonstrated that U.S. industry has for now emerged from a springtime slump. On an annual basis, manufacturing’s July 66,000 employment improvement was its strongest since February, 2016’s 69,000.

But since the current recovery began, private net job creation has topped manufacturing’s by a factor of nearly 2.5. The same story characterized pre-inflation manufacturing wages. In July, they improved sequentially faster than the private sector’s (0.53 percent to 0.34 percent) but lagged year-on-year (2.42 percent to 2.53 percent) and trailed the previous Julys’ 3.13 percent. And during the current recovery, the private sector’s current dollar wages have increased nearly 20 percent faster than manufacturing’s, although the gap has narrowed year-on-year. But despite its good last two months, manufacturing’s share of total nonfarm employment remained at a record low of 8.47 percent.

Here’s my analysis of the latest monthly (July) manufacturing figures contained in this morning’s employment report from the Bureau of Labor Statistics:

>U.S. domestic manufacturing net new job creation and wage gains both accelerated sequentially in July, pulling the sector out of a sluggish spring on both fronts.

>Industry’s monthly July jobs gain of 16,000 was its best such performance by far since the 22,000 payrolls improvement in February. Moreover, June’s initially reported 1,000 employment increase is is now judged to have been more than ten times greater (12,000).

>Fiurther, the July figures showed that manufacturing payrolls swelled by 66,000 year-on-year in July – the best annual gains since February, 2016’s 69,000.

>Monthly pre-inflation manufacturing wages growth picked up notably as well in July, from an upwardly revised 0.19 percent in June to 0.53 percent. In May, manufacturing paychecks actually fell on a current dollar basis – by an upwardly revised 0.26 percent.

>Manufacturing’s June sequential pre-inflation wage gains equaled those of the overall private sector, and beat the private sector’s 0.34 percent performance in July.

>Over the longer term, however, manufacturing lagged the overall private sector in both respects, although the paycheck gap has been narrowing slightly recently.

>During the current economic recovery, which began in mid-2009, manufacturing employment is now up by 5.96 percent. Private sector jobs as a whole are up by 14.58 percent during this period.

>Since the late-2007 onset of the last recession, manufacturing’s performance is equally poor. From that time to the early 2010 troughs, manufacturing lost 2.293 million jobs and private sector payrolls shrank by 8.801 million.

>Since then, manufacturing has regained just 42.39 percent of those lost jobs (a total of 972,000). The private sector as a whole has boosted employment by 17 million.

>As a result, total private sector employment is now 7.08 percent higher than at the recession’s late-2007 onset, but manufacturing employment is still 9.61 percent lower.

>Therefore, it’s no surprise that manufacturing’s share of total nonfarm employment in July stayed stuck at its all-time low level of 8.47 percent.

>Wage trends reveal the same manufacturing relative weakness. Industry’s July annual current dollar wage gains of 2.42 percent were lower than the overall private sector’s 2.53 percent. They were also much lower than the 3.13 percent increase recorded for manufacturing during the previous Julys.

>Manufacturing wages before inflation have fared little better during the recovery. As of July, they were up by 15.99 percent since the economy resumed expanding in mid-2009. But overall private sector wage increased by 19.06 percent – 19.20 percent faster.

>Last July, though, the gap was bigger – 23.24 percent.

>Manufacturing generally performs even worse on an inflation-adjusted basis. The latest figures are for June, and show a sequential manufacturing gain of 0.18 percent versus a 0.28 percent read for the private sector overall.

>Year-on-year, real manufacturing wages have risen by only 0.55 percent. That’s both slower than the private sector’s 0.94 percent and manufacturing’s own 2.46 percent constant dollar rise between July, 2015 and July, 2016.

>During the entire recovery, overall private sector real wages are up 4.56 percent as of June – 2.87 times faster than the manufacturing real wage improvement (1.59 percent).

>As bad as that comparison looks, it’s actually narrower than the gap last year – when overall private sector wages had increased 3.48 times faster after inflation than manufacturing wages.

(What’s Left of) Our Economy: Despite Strength in February, Manufacturing’s Jobs Recession Continued

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BLS, Bureau of Labor Statistics, inflation adjusted wages, Jobs, manufacturing, non-farm payrolls, recession, recovery, wages, {What's Left of) Our Economy

February’s preliminary U.S. manufacturing jobs figures showed that the sector boosted payrolls by 28,000 – its best performance since the same total for January, 2016, but that its jobs recession continued, with employment down on net since that month. Manufacturing wage growth, moreover, showed some weakness, as average hourly pay improved by just 0.04 percent on month (lagging the overall private sector) and the yearly improvement of 2.89 percent was mediocre by the last few months’ standards.

The positive manufacturing jobs revisions for December and January brightened former President Obama’s record for employment creation in the sector, but the increase still fell short of his stated second term goal of creating one million new positions in industry by 625,000.

Despite the good February monthly advance – plus the sector’s first annual employment increase (7,000) since last July – manufacturing jobs as a share of the non-farm total hit a new record low of 8.49 percent. Nor did the February results change manufacturing’s status as an American employment and wages laggard. Since the mid-2009 onset of the current economic recovery, industry employment is up only 5.59 percent, versus the 11.28 percent for the nation as a whole, and pre-inflation wages have risen by 14.51 percent versus the 17.84 percent rise for the entire private sector.

Here’s my analysis of the latest monthly (February) manufacturing figures contained in this morning’s employment report from the Bureau of Labor Statistics:

>The first full (though preliminary) monthly tally of President Trump’s manufacturing job creation record showed that even a strong February – which saw industry’s payrolls grow by 28,000 on net – wasn’t enough to pull the sector out of its latest jobs recession.

>Although the February results were manufacturing’s best since January, 2016’s (which were identical), the sector’s employment is still below that month’s total by 5,000 on net.

>In addition, manufacturing wages displayed signs of weakness in February. Their pre-inflation sequential increase of 0.04 percent trailed that of the overall private sector (0.23 percent) for the second straight month.

>Year-on-year, however, manufacturing’s wage performance looks better. Hourly pay rose by 2.89 percent versus the 2.80 percent figure for the private sector. Manufacturing held the edge in January, too, but the gap was wider (2.89 percent versus 2.60 percent).

>The new Labor Department release also showed that former President Obama’s record as a manufacturing jobs creator was somewhat better than previously reported. Net new manufacturing jobs still rose much less (a total of 375,000) than the one million goal he set for his second term. But positive revisions for January and February boosted manufacturing positions by 13,000 during those years.

>The last three months’ totals also did nothing to halt the historic slide in manufacturing’s share of total non-farm employment. In February, this figure hit a new record low of 8.49 percent.

>On the brighter side, the February yearly manufacturing jobs increase of 7,000 was the first such advance since the 7,000 annual growth last July.  Nonetheless, it compared poorly with the 69,000 year-on-year gain reported for the previous Februarys.  

>Even so, manufacturing remains a jobs and wages laggard during the current economic recovery. Since the economy returned to expansion mode in June, 2009, industry employment is up by only 5.59 percent – less than half the 11.28 percent advance recorded by the private sector as a whole.

>Since its 2010 employment bottom, manufacturing has now regained 929,000 (40.51 percent) of the 2.293 million jobs it lost during the recession and its aftermath. By contrast, the private sector overall lost 8.801 million jobs from the recession’s December, 2007 onset through its February, 2010 absolute employment low. Since then, it has increased net employment by 16.217 million.

>Moreover, whereas total private sector employment is now 6.41 percent higher than at the recession’s beginning, in late 2007, manufacturing employment is still 9.92 percent lower.

>On the wage front, pre-inflation manufacturing pay has risen by 14.51 percent during this recovery – again slower than the 17.84 percent for the entire private sector.

>Adjusting for inflation, manufacturing’s wage performance looks much worse. The latest figures only cover January, but they show that real hourly pay in the sector is up only 0.65 percent since the recovery began in mid-2009 – more than seven years ago. Real wages in the private sector overall are up 3.39 percent.

(What’s Left of) Our Economy: Latest Manufacturing Jobs Recession Marks Second Birthday

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Bureau of Labor Statistics, inflation adjusted wages, Jobs, manufacturing, non-farm employment, recession, recovery, wages, {What's Left of) Our Economy

American domestic manufacturing employment fell sequentially by another 4,000 in November, extending its jobs recession to two years. Industry’s employment is now down on net by 12,000 since November, 2014, as its worst jobs slump since the Great Recession continued. Largely as a result, manufacturing’s share of total U.S. non-farm employment sank to another record low – just short of 8.45 percent. Moreover, in a break with the recent trend, manufacturing’s current dollar wages took their biggest sequential fall (0.61 percent) since November, 2011 (0.71 percent).

Manufacturing’s November job loss represented the seventh sequential drop this year, and the sector’s year-on-year losses (54,000) were the greatest since August, 2010 (73,000). September and October monthly employment revisions were slightly positive (11,000 total).

Here’s my analysis of the latest monthly (November) manufacturing figures contained in this morning’s employment report from the Bureau of Labor Statistics:

>American domestic manufacturing’s monthly November jobs loss of 4,000 extended industry’s employment recession to two years – it’s worst stretch for payrolls since the Great Recession.

>Thanks to the sector’s seventh monthly net jobs decline this year, manufacturing’s employment is now down by 12,000 since November, 2014.

>Despite positive revisions (11,000) for September and October, the November employment decline pushed manufacturing’s share of total U.S. employment down to another record low – just under 8.45 percent.

>Contrary to a recent pattern, however, November’s manufacturing job loss was accompanied by a sharp drop in nominal wages. Hourly pay in the sector fell by 0.61 percent from October levels – the worst such decline since November, 2011’s 0.71 percent.

>Pre-inflation wages for the private sector as a whole decreased by only 0.12 percent on month in November.

>November’s losses also drove manufacturing’s year-on-year employment loss down to 54,000 – the largest such decline since August, 2010’s 73,000.

>Between November, 2014 and November, 2015, manufacturing gained 42,000 jobs.

>Part of manufacturing’s big monthly wages drop might have stemmed from the sharp upward revision in October’s monthly advance – from 0.38 percent to 0.61 percent. That was the best such performance since August, 2015’s 0.63 percent.

>Due to the November monthly wage decline, hourly current dollar manufacturing pay advanced by 2.66 percent year-on-year. That’s better than the 2.33 percent recorded between the previous Novembers, but the lowest yearly advance in 2016 since March’s 2.55 percent.

>Since its 2010 employment bottom, manufacturing has regained 807,000 (35.19 percent) of the 2.293 million jobs it lost during the recession and its aftermath. By contrast, the private sector overall lost 8.801 million jobs from the recession’s December, 2007 onset through its February, 2010 absolute employment low. Since then, it has increased net employment by 15.626 million.

>In fact, whereas total private sector employment is now 5.90 percent higher than at the recession’s beginning, manufacturing employment is still 10.81 percent lower.

>Despite strong relative recent performance, since the recovery’ June, 2009 onset, manufacturing’s pre-inflation wage gains still trail those of the private sector as a whole by 16.94 percent to 13.77 percent.

>Examining manufacturing’s inflation-adjusted wages reveals a more complicated picture than depicted by the pre-inflation wage numbers. The latest Labor Department figures are from October, and show that manufacturing’s month-on-month performance (real wages rose 0.28 percent) handily beat that of the private sector (up 0.09 percent).

>Year-on-year, manufacturing’s October real wage increase also easily topped that of the private sector – by 1.78 percent to 1.23 percent.

>Yet since the recovery began in mid-2009 – nearly seven years ago – inflation-adjusted manufacturing wages have risen only 1.59 percent. Real private sector wages have increased considerably faster – by 3.98 percent.

(What’s Left of) Our Economy: Manufacturing’s Jobs Recession Keeps Getting Longer – and Wages Keep Getting Higher

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Great Recession, inflation adjusted wages, Jobs, manufacturing, nonfarm payolls, recovery, wages, {What's Left of) Our Economy

In September, American domestic manufacturing employment and wages continued to move in dramatically different directions. Sequential net new job creation fell for a second straight month (by 13,000). Coupled with generally negative revisions, the results prolonged a jobs recession that began in November, 2014 – the sector’s worst such stretch since the Great Recession. As a result, manufacturing jobs as a share of the national total fell to 8.47 percent – a new record low. Industry’s pre-inflation wage gains, however, continued their recent pattern of exceeding the overall private sector’s, rising 0.31 percent month-on-month and 2.95 percent year-on-year.

Here’s my analysis of the latest monthly (September) manufacturing figures contained in this morning’s employment report from the Bureau of Labor Statistics:

>American domestic manufacturing in September continued its recent pattern of losing jobs but strongly increasing wages. A monthly employment drop of 13,000 helped extend the sector’s worst jobs recession since the Great Recession – a slump that began in November, 2014. Employment is down on net by 10,000 during this period.

>Due to September’s fall-off and mainly negative revisions, manufacturing’s share of total U.S. non-farm employment fell to yet another all-time low – 8.47 percent.

>Yet manufacturing’s month-on-month and year-on-year wage increases in September continued to best those of the private sector. The former rose by 0.31 percent, versus 0.23 percent for the private sector as a whole, and the respective annual totals were 2.95 percent and 2.59 percent.

>August’s 14,000 sequential manufacturing job loss was revised down to 16,000. July’s downwardly revised gain of 6,000 was downgraded again, to 2,000. And June’s downgraded 8,000 employment advance remained the same.

>Manufacturing’s wage gains, however, generally saw positive revisions. August’s 0.04 percent monthly improvement was upgraded to 0.19 percent. July’s 0.19 percent rise is now pegged at 0.23 percent. And June’s 0.19 percent decrease remained the same.

>The new year-on-year manufacturing employment changes revealed significant job-creation weakness as well. September’s decline of 47,000 was the biggest since August, 2010 (73,000), when the sector was still recovering from the worst of the Great Recession.

>Between the previous Septembers, manufacturing added 92,000 net new jobs.

>Since its 2010 employment bottom, manufacturing has regained 809,000 (35.28 percent) of the 2.293 million jobs it lost during the recession and its aftermath. By contrast, the private sector overall lost 8.801 million jobs from the recession’s December, 2007 onset through its February, 2010 absolute employment low. Since then, it has increased net employment by 15.309 million.

>In fact, whereas total private sector employment is now 5.63 percent higher than at the recession’s beginning, manufacturing employment is still 10.80 percent lower.

>Despite strong relative recent performance, since the recovery’ June, 2009 onset, manufacturing’s pre-inflation wage gains still trail those of the private sector as a whole by 16.49 percent to 13.64 percent.

>Examining manufacturing’s inflation-adjusted wages reveals a more complicated picture. The latest Labor Department figures are from August, and show that manufacturing’s month-on-month performance (real wages were flat) slightly beat that of the private sector (down 0.09 percent).

>Year-on-year, manufacturing’s real wage increase also topped that of the private sector (by 1.50 percent to 1.32 percent).

>Yet since the recovery began in mid-2009 – nearly seven years ago – inflation-adjusted manufacturing wages have risen only 1.21 percent. Real private sector wages have increased considerably faster – by 3.88 percent.