Fencepost - July/August 2017 - 52

& business services also posted relatively strong gains of 41,000
and 39,000 jobs respectively. The information sector was the only
area where employment dropped in April, its 7,000 job reduction
continuing a recent trend.

with new orders, production, employment and inventories
of raw materials all growing in April over March."

At goods-producing establishments, employment gains
were relatively broad-based. Mining and logging added
10,000 jobs due in part to increased activity in the oil
belt. Employment in manufacturing was mixed with
durable goods production shedding 3,000 jobs while
production of nondurable goods added 9,000 positions.
The construction sector added 5,000 jobs for the month.
Over the last 12 months, nonfarm payrolls have increased by
2,237,000-or roughly 186,000 jobs per month. The payroll
gains a relatively broad-based with 44 of the 50 states showing
increased nonfarm employment over the past 12 months.
Those states that have lost jobs (Alaska, Louisiana, Mississippi,
Oklahoma, West Virginia, and Wyoming) all have significant
exposure to the energy sector.
In the household survey, news was also favorable as the
unemployment rate ticked down by 0.1% to 4.4% in April's
improvement occurred despite a modest expansion in
size of the civilian labor force. The reductions in the
unemployment rate have been relatively broad-based
with 336 out of 388 metropolitan areas reporting a
lower unemployment rate than one year ago.
The manufacturing sector continued its recent display of
strength as measured by the Institute of Supply Management's
monthly PMI gauge which registered 54.8 in April. While the
PMI was down 2.4 points from its March read, it remained
comfortably in a region that showed expansion in both the
manufacturing sector and the overall economy.
Performance by different index components was mixed. The
forward-looking new orders component slipped by 7.0 points
to 57.5 for the month. There was a modest all set from the
production component which edged up by 1.0 points. The
survey continues to indicate that customers' inventories were too
low and that the backlog of orders was growing in April. Both
readings would be bullish for future production activity.
Of the 18 manufacturing industries, 16 reported growth in
April including such fence-relevant sectors as plastics & rubber
products, fabricated metal products and primary metals.
Bradley J. Holcomb, chair of the ISM's Manufacturing
Business Survey Committee, noted that "comments from the
panel generally reflect stable to growing business conditions;

Consumer sentiment sustained the gains following November's
presidential election in April and May. The index of consumer
sentiment edged 2.3 points higher to 97.0 in April. Preliminary
results from May show the index adding another 0.7 points.
Richard Curtin, chief economist for the Surveys of Consumers,
said that "the recent stability in consumer sentiment, however,
masks two important underlying shifts in the components as
well as in the partisan divide. More favorable income gains and
low inflation meant that consumers held the most favorable real
income expectations in a dozen years."
However, Curtin cautioned that "buying plans, however,
were mixed: household durables rose to a decade peak, while
vehicle-buying conditions slipped to a three year low."
Curtin also noted that "the partisan difference in the
Expectations Index is still huge, but the gap between Democrats
and Republicans narrowed slightly to 55 Index points from
65 three months ago, mainly due to Democrats expressing
diminished fears of an immediate recession and lessened
concerns about personal financial setbacks."
Despite recent firmness in consumer confidence, retail sales
data has been volatile. After two months of disappointing data,
retail sales rose by 0.4% in April. However, those gains were more
modest than the consensus outlook for a 0.6% increase.
For the first four months of 2017, retail and food sales are up
3.5% over the same period in 2016. The largest gains have been
at gasoline stations building material suppliers and non-store
retailers. Stores specialize in electronics and appliances, clothing,
and sporting goods have seen sales decrease versus 2016.
Inflation bounced back in April, with the Consumer Price Index
(CPI) edging up by 0.2% for the month. The increase followed a

www.americanfenceassociation.com | 52 | July/August 2017


http://www.americanfenceassociation.com

Table of Contents for the Digital Edition of Fencepost - July/August 2017

Editor’s Note
Executive Director’s Message
President’s Message
Board of Directors | Board of Governors
Setting Yourself Apart From the Competition
VMA
Cutting Fuel Costs With Fleet Tracking
Blue Ribbon Companies
The Right Gate for the Job
CLFMI
New Technologies Provide Global Reach for Access Systems
New Members
All About I-9s
Calendar
Good Fences and Good Neighbors
Minding Your Business
Fencesense
Index to Advertisers
Fencepost - July/August 2017 - Intro
Fencepost - July/August 2017 - cover1
Fencepost - July/August 2017 - cover2
Fencepost - July/August 2017 - 3
Fencepost - July/August 2017 - 4
Fencepost - July/August 2017 - 5
Fencepost - July/August 2017 - 6
Fencepost - July/August 2017 - 7
Fencepost - July/August 2017 - 8
Fencepost - July/August 2017 - 9
Fencepost - July/August 2017 - 10
Fencepost - July/August 2017 - 11
Fencepost - July/August 2017 - 12
Fencepost - July/August 2017 - Editor’s Note
Fencepost - July/August 2017 - 14
Fencepost - July/August 2017 - Executive Director’s Message
Fencepost - July/August 2017 - 16
Fencepost - July/August 2017 - President’s Message
Fencepost - July/August 2017 - 18
Fencepost - July/August 2017 - Board of Directors | Board of Governors
Fencepost - July/August 2017 - Setting Yourself Apart From the Competition
Fencepost - July/August 2017 - 21
Fencepost - July/August 2017 - 22
Fencepost - July/August 2017 - 23
Fencepost - July/August 2017 - 24
Fencepost - July/August 2017 - VMA
Fencepost - July/August 2017 - Cutting Fuel Costs With Fleet Tracking
Fencepost - July/August 2017 - 27
Fencepost - July/August 2017 - 28
Fencepost - July/August 2017 - Blue Ribbon Companies
Fencepost - July/August 2017 - The Right Gate for the Job
Fencepost - July/August 2017 - 31
Fencepost - July/August 2017 - 32
Fencepost - July/August 2017 - CLFMI
Fencepost - July/August 2017 - 34
Fencepost - July/August 2017 - New Technologies Provide Global Reach for Access Systems
Fencepost - July/August 2017 - 36
Fencepost - July/August 2017 - New Members
Fencepost - July/August 2017 - 38
Fencepost - July/August 2017 - All About I-9s
Fencepost - July/August 2017 - 40
Fencepost - July/August 2017 - 41
Fencepost - July/August 2017 - 42
Fencepost - July/August 2017 - Calendar
Fencepost - July/August 2017 - Good Fences and Good Neighbors
Fencepost - July/August 2017 - 45
Fencepost - July/August 2017 - 46
Fencepost - July/August 2017 - 47
Fencepost - July/August 2017 - 48
Fencepost - July/August 2017 - Minding Your Business
Fencepost - July/August 2017 - 50
Fencepost - July/August 2017 - Fencesense
Fencepost - July/August 2017 - 52
Fencepost - July/August 2017 - 53
Fencepost - July/August 2017 - 54
Fencepost - July/August 2017 - 55
Fencepost - July/August 2017 - 56
Fencepost - July/August 2017 - 57
Fencepost - July/August 2017 - Index to Advertisers
Fencepost - July/August 2017 - cover3
Fencepost - July/August 2017 - cover4
Fencepost - July/August 2017 - outsert1
Fencepost - July/August 2017 - outsert2
Fencepost - July/August 2017 - outsert3
Fencepost - July/August 2017 - outsert4
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