Accelerating Deterioration In Manufacturing Employment, Post-“Liberation Day”

Image Source: Pexels
 

ADP and BLS CES and QCEW data confirm:
 

Figure 1: Change since 2025M01 in manufacturing employment from BLS (blue), from implied preliminary benchmark (brown), in Powell conjecture prorated applied to implied preliminary benchmark (green), QCEW covered manufacturing seasonally adjusted using X-13 (in logs) by author (purple), and ADP (red), all in 000’s, s.a. Source: BLS via FRED, BLS, ADP, and author’s calculations.

---

More By This Author:

The Average Effective Tariff Rate Thru October
ADP Implied Private NFP, Philly Fed Early Benchmark, Etc.
ADP Private NFP Employment Below Consensus, Large Firm Flat, Mfg Down