Factory Job Cuts 'Running At The Highest Since 2009 If The Pandemic Is Excluded, S&P Says
S&P Global said factory job cuts are at their highest since 2009, even as June manufacturing output improved on an inventory rebuild.
- S&P Global's Flash PMI registered 55.7 in June, signaling output growth alongside factory job cuts at their highest levels since 2009, excluding the Covid-19 pandemic.
- Manufacturers indicated workforce reductions in three of the past four months as companies focus on cost reduction amid high input prices and concerns over demand sustainability.
- Inventory rebuilding largely supported the better-than-expected manufacturing reading, while the services Flash PMI registered 51.3, reflecting modest improvement amid inflation resurgence and energy price volatility.
- Despite manufacturing workforce reductions, the Bureau of Labor Statistics reported the broader job picture remained solid in 2026, with 23,000 more people employed this year.
- Federal Reserve Chairman Kevin Warsh characterized economic growth as "solid" last week, attributing "elevated uncertainty" to Middle East conflicts while the economy accelerated at 1.6% annualized pace.
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Factory Job Cuts Hit Highest Levels Since 2009
By: Paul Goldberg - Senior Correspondent | JRL CHARTS LGBT Business Finance News WASHINGTON, D.C. — (June 23, 2026) — President Donald Trump continues to promote what he calls America's new "Golden Age," but fresh economic data suggests that many manufacturers are becoming increasingly cautious as factory employment declines at a pace not seen since [...] The post Trump’s ‘Golden Age’ Narrative Faces Reality Check as Factory Employment Falls app…
U.S. Manufacturing Jobs See Largest Decline Since Pandemic. While the U.S. manufacturing sector appears to be continuing its expansion on the surface, factory jobs are actually shrinking rapidly. Analysis suggests that companies are cutting employment in preparation for a potential future economic slowdown, even while maintaining production. S...
Factory job cuts in June neared financial crisis and Covid levels
U.S. factories saw sharp job reductions in June that approached the highest levels recorded since the end of the global financial crisis in 2009, excluding the initial shock of the Covid-19 pandemic, according to data released by S&P Global. The report highlights mounting pressures on the manufacturing sector amid concerns over softening global demand and […]
Shock Report Shows Factory Layoffs At Pandemic Levels
(AP Photo/Jacquelyn Martin) The latest S&P Global report proved worrisome for the manufacturing sector, with U.S. factory job cuts approaching the highest levels since the early COVID-19 pandemic and the 2008-2009 financial crisis. This June report, called the S&P Global US Flash PMI, found that employment fell for the second month in a row as companies “focus on cost reduction amid high input prices and concerns over the outlook.” Compared to t…
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