The Institute for Supply Management (ISM) has reported that the employment index for the US manufacturing sector edged up in April, showing a slight improvement compared to the previous month. The indicator, which reached 48.6 in April, is up from 47.4 in March 2024.
The latest data, updated on May 1, 2024, indicates a positive shift in employment within the US manufacturing industry. While still below the 50 mark that separates expansion from contraction, the uptick in the employment index is a hopeful sign for the labor market within the sector.
Analysts will be closely monitoring future ISM reports to gauge the trajectory of employment in the US manufacturing industry and its broader implications for the country's economic recovery.
