Member Briefing April 6, 2026

Posted By: Harold King Daily Briefing,

Jobs Reports… and More Jobs Reports

US Employment Increases by 178,000 - Mfg Up 15,000, Unemployment Rate Falls Slightly to 4.3%

U.S. nonfarm payroll employment increased by 178,000 in March, after the February figure was revised from -92,000 to -133,000, according to the Bureau of Labor Statistics (BLS) March 2026 Employment Situation report. The unemployment rate inched down 0.1 percentage points to 4.3%. Year over year, the rate is up 0.1 percentage points. By industry, health care (76,400), leisure and hospitality (44,000), construction (26,000) and transportation and warehousing (21,000) posted notable job gains. Financial activities (-15,000) and federal government (-18,000) reported large job losses.

Durable goods manufacturing added 15,000 jobs, while nondurable goods manufacturing reported no change. By manufacturing sector, transportation equipment manufacturing (6,500) and fabricated metal product manufacturing (5,200) posted the largest job gains, while chemical manufacturing (-5,200) and furniture and related product manufacturing (-2,000) reported the largest job losses, according to the BLS industry sector data. Read more at IndustryWeek

US Initial Jobless Claims Fall to Just Shy of Two-Year Low

US claims for unemployment benefits fell from the previous week, coming in below expectations in a bullish sign for an otherwise cooling labor market. Initial jobless claims fell by 9,000 to 202,000 for the week ending March 28, the Labor Department reported Thursday. Economists had been expecting 212,000 claims, according to Bloomberg consensus estimates. Continuing claims, which track the unemployed population still seeking work, rose to 1.84 million for the week ending March 21 from a revised level of 1.82 million the week before. Yahoo Finance

NFIB: Small Business Employment Index Pulls Back in March

NFIB’s March Jobs Report shows that the Small Business Employment Index fell 1.9 points to 101.6. Despite the decline, the current reading remains above the 2025 average of 101.2 and the historical average of 100. In March, 32% (seasonally adjusted) of small business owners reported job openings they could not fill, down 1 point from February. Unfilled job openings remain above the historical average of 24%. Twenty-seven percent have openings for skilled workers (down 1 point), and 12% have openings for unskilled labor (up 2 points). Overall, 52% of owners reported hiring or trying to hire in March, down 2 points from February. Forty-five percent of owners (87% of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill (down 1 point). Twenty-two percent reported few qualified applicants (down 3 points), and 23% reported none (up 2 points). Read more at the NFIB

Hudson Valley Private Sector Employment Up 10,600 Year on Year in January, Manufacturing Up 300

Over the past year, the private sector job count in the Hudson Valley rose by 10,600, or 1.3 percent, to 831,200 in January 2026. Job growth was centered in private education and health services (+12,000), professional and business services (+2,100), financial activities (+700), manufacturing (+300) and other services (+200). Losses were greatest in trade, transportation and utilities (-2,000), leisure and hospitality (-1,900), information (-400) and mining, logging and construction (-400). New York State's private sector jobs (not seasonally adjusted) increased by 18,400, or 0.2%, over the year in January 2026, less than the 0.4% increase in the number of private sector jobs in the U.S. Read the NYS Labor Market Report

U.S.-Iran War ‘Tax’ Begins To Hit American Businesses And Consumers

The U.S.-Iran war, Strait of Hormuz closure and rise in oil prices are squeezing businesses and consumers across the economy. Surging diesel and jet fuel prices led Amazon and JetBlue to add surcharges this week. Experts call it a “tax” on the consumer, but for many small businesses across the U.S., it’s not a cost they can pass along. Unlike past economic shocks to the system, such as the Great Recession or Covid, there will be fewer tools for the government to use to lessen the blow for businesses and consumers. “Policy is likely not riding to the rescue like it did during the Covid era,” Vanderburg said.

The U.S. economy, more so than economies in many other countries, is propped up by consumer spending, with almost two-thirds of the economy powered by consumers. Where those dollars go will dictate where the economy goes, Vanderburg said. While the economy had been slowing even before the outbreak of war, he says there is one cushioning factor for the American consumer compared to the oil crisis of the 1970s, a country that is far less dependent on imported oil. But he added that cushion can only soften the blow. “This is headed toward sustained, compounding cost pressure across every industry that touches fuel, which is effectively every industry,” said Herman Nieuwoudt, president of IFS Energy & Resources.

Read more at CNBC

US Trade Deficit Widens In February As Imports Offset Record Exports

The U.S. trade deficit widened in February as a rebound in imports offset strong growth in exports, which increased to a record high, potentially keeping trade on track to subtract from economic growth in the ​first quarter. The trade gap increased 4.9% to $57.3 billion, the Commerce Department's Bureau of Economic Analysis and ‌Census Bureau said on Thursday. Data for January was revised to show the deficit narrowing to $54.7 billion instead of $54.5 billion as previously estimated. Economists polled by Reuters forecast the trade deficit rising to $61.0 billion in February.

  • Imports increased 4.3% to $372.1 billion in February. Goods ​imports rose 5.0% to $291.5 billion. They were boosted by imports of capital goods, which increased $7.8 billion, mostly reflecting computers, computer ​accessories and semiconductors.
  • Imports of industrial supplies and ‌materials increased $3.1 ⁠billion, mostly lifted by crude oil.
  • Consumer goods imports rose $2.2 billion amid a $1.0 billion increase in pharmaceutical preparations. Imports of automotive vehicles, parts and engines increased $1.6 billion.
  • Exports jumped 4.2% to a record high $314.8 billion. Goods exports soared 5.9% to an all-time high of $206.9 billion.
  • Exports of industrial supplies and materials increased $10.2 billion to a record high, driven by monetary gold ​and natural gas. Exports of ​non-petroleum goods were also ⁠the highest on record.
  • The goods trade deficit with China increased to $13.1 billion in February from $12.5 billion in January, while the shortfall with Mexico swelled $4.1 billion to $16.8 billion.

Read More at Reuters

Iran and the Middle East

Ukraine

Other World Headlines

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State Budget Overtime: Where Talks Stand Around Car Insurance, Climate And Immigration

Gov. Hochul’s budget director Blake Washington offered some relatively good news to budget watchers in Albany last week as the state spending plan slipped past the April 1 deadline, marking five late budgets out of five under Hochul: It might not be as late as last year, when Hochul signed the spending plan on May 9 — the latest in 15 years. That comes as conversations continue at a glacial pace around Hochul’s pitch to transform car insurance policy to lower rates and dial back the state’s 2019 climate law amid affordability concerns.

“Once everybody returns from the holiday season, we hit the ground running, and I don’t think it should be very long after that,” Washington said. “I don’t see any reason it should drag into a repeat of last year. That being said, the governor has been very, very clear on what her needs are out of this process.” Though the budget process is notoriously unpredictable — and new items can be introduced at any moment — Assembly Speaker Carl Heastie seemed to agree with Washington that this doesn’t compare to last year’s weekslong row over changes to the state’s discovery laws. “The subjects are not as difficult as discovery,” he said, rating this year’s issues at a “six or seven” in difficulty.

Read more at New York State of Politics

Trump Proposes Massive Increase In 2027 Defense Spending To $1.5T, Citing ‘Dangerous Times’

President Donald Trump on Wednesday proposed setting U.S. military spending at $1.5 trillion in 2027, citing “troubled and dangerous times.” The blueprint released Friday — a largely symbolic reflection of the president’s priorities — would increase the government’s defense spending by more than 40% compared to last year. It aims to bolster munitions and build out the US naval fleet while also beginning construction on President Donald Trump’s planned “Golden Dome” missile defense system. It would also provide hefty raises of between 5% and 7% for all military personnel to help with recruitment and retention.

Of the $445 billion that the administration wants to add to the defense budget, the White House is proposing that $350 billion of it be passed as part of forthcoming legislation that Republicans are planning to pass using a maneuver that requires only a majority vote in the Senate — and therefore would not need Democratic support. The budget proposals for other agencies also reflect the administration’s interest in bolstering the nation’s defense systems. For instance, the Department of Energy budget floats increasing funding for the National Nuclear Security Administration by over $3.5 billion to develop new warheads, modernize existing ones and develop new technology for future US naval systems.

Read more at CNN

Trump Adjusts Tariffs For Steel, Aluminum, Copper

The Trump administration is adjusting how Section 232 tariffs on steel, aluminum and copper imports and derivative products are calculated, according to a proclamation President Donald Trump signed Thursday.  Under the new rules, which go into effect April 6, goods made almost entirely of aluminum, steel or copper, including steel coils and aluminum sheets, will face a 50% tariff for the value of the item.  However, derivative articles “substantially made” of steel, aluminum or copper will incur a 25% levy, per a White House fact sheet. Such goods include steel cooking appliances, silverware, diesel-engine trains and semi-trailer hauling trucks, according to a list provided by the White House.

Trump clarified that lower tariff rates will apply for steel and aluminum products from the United Kingdom. Such goods will face a 25% tariff if made almost entirely of the metals while derivative goods will face a 15% levy. Trump also said that the new rules did not alter or supersede prior agreements with trading partners such as the European Union, Japan and South Korea. Meanwhile, the administration is also setting a 15% tariff rate for “certain metal-insensitive industrial equipment and electrical grid equipment,” as well as a 10% levy for imported goods made entirely with steel, aluminum or copper from the U.S, per the fact sheet. The tariff level for equipment will remain in effect through 2027.

Read more at Manufacturing Dive

More Policy and Politics Headlines

Workplace Mental Health: 1 In 4 Workers Consider Quitting Over Stress

Employees are seeking more mental health resources and training at work to help them cope with rising stress at work and at home, according to the third annual NAMI-Ipsos Workplace Mental Health poll recently released by the National Alliance on Mental Illness (NAMI).  The poll was conducted in January and February. Here are some key highlights:

  • Only about half (54%) of employees believed their company makes their mental health a priority.
  • A majority of respondents said it would be helpful to receive training about mental health conditions (79%), identifying and responding to a mental health crisis (80%), stress or burnout management (81%), and mental health resources offered by their employer (81%).
  • Overall, three in four respondents felt it is appropriate to discuss mental health at work, but nearly 50% of employees worried they would be judged for sharing mental health struggles with their colleagues.
  • Employees’ comfort level dropped significantly when discussing mental health with human resources (39%) or senior leadership (30%).
  • Nearly 40% have felt so overwhelmed it was hard to do their job, and 35% felt their productivity suffered because of their mental health.

Read more at Cleveland.com

Upcoming Council Programs

Events

Manufacturing Champions Award Breakfast and Workforce Developers Expo - Thursday May 7, 2026 -7:45 - 10:00 AM. West Hills Country Club, Middletown.

Networks

The Council of Industry and Marist University Executive Discussion - Assessing the current state of AI adoption across organizations. April 14, 11:30 - 1:30 via zoom.

HR Sub Council Meeting Topic TBD, April 23, 2026, 8:15 - 11:00 AM. Location Ulster BOCES Career Academy, iPark 87, Kingston.

Insight Exchange - On Demand Webinars

Training

Certificate in Manufacturing Leadership Program Spring Session, In Person at iPark 87 in Kingston. Supervisor Training Program for Hudson Valley Manufacturers. 7 Courses (8 full day sessions) April 29 - July 15.

Trade Wars

A Year After ‘Liberation Day,’ Impact Of Trump Tariffs On Defense Industry Remains Muted

On April 2nd, just more than one year ago, President Donald Trump declared that a “chronic trade deficit” had become a national emergency, resulting in the need for the United States to impose retaliatory tariffs on American allies and foes alike to “make America wealthy again.” But the defense industry has largely ridden out the worst of the storm, thanks to a series of national security exemptions. Where the impacts have been most felt, they say, is on the man hours and administrative burden of applying to obtain those exemptions, which often have to be done on a case-by-case basis.

For most of 2025 defense and aerospace companies were primarily affected by the so-called “reciprocal tariffs,” imposed under the International Emergency Economic Powers Act (IEEPA). Companies have also suffered the ripple effects of tariffs on steel and aluminum purchases, known as Section 232 tariffs. Defense contractors can avoid being hit with steel and aluminum tariffs — which are widely used in the manufacture of ships, aircraft and other weaponry — through Chapter 98 of the US Harmonized Tariff Schedule, which provides an exemption for certain defense materials.

Read more at Breaking Defense

Amazon To Apply 3.5% Fuel And Logistics Surcharge On Fulfillment Beginning April 17

Amazon will soon levy a 3.5% fuel and logistics-related surcharge on fulfillment services for third-party sellers as the e-commerce giant battles elevated operating costs, according to an announcement Thursday. Starting April 17, the surcharge will be applied to fulfillment fees for the company’s Fulfillment by Amazon service in the U.S. and Canada, in addition to Remote Fulfillment with FBA shipping from the U.S. to Canada, Mexico and Brazil. On May 2, the surcharge will also begin applying to Buy with Prime in the U.S. and Multi-Channel Fulfillment services in the U.S. and Canada.

Amazon is joining the list of major logistics providers that are hitting shippers with price hikes and elevated surcharges as fuel costs rise amid the war in Iran. UPS and FedEx’s fuel surcharge rates continue to climb, and the U.S. Postal Service plans to launch an 8% temporary price hike on package shipping services April 26. The Amazon surcharge, which Amazon did not provide an end date for, is calculated based on seller fulfillment fees rather than the sale price of the items, according to Amazon. The 3.5% levy equates to an additional $0.17 per unit for U.S. Fulfillment by Amazon services, although it varies based on item size and dimensions.

Read more at US News

DiNapoli: Tariffs Result in Steep Decline in New York Exports

As a result of new tariff policies implemented under the Trump administration in 2025, exports declined to almost one-half of New York’s trading partners. Among the highest declines were in exports to Canada, the state’s most significant trading partner. Exports of more than two-thirds of product categories from New York declined. Exports to almost half of the nations (46.1%) the state does business with declined; those to Canada decreased by $3.8 billion and to Israel by $1.4 billion. While Belgium is not one of the state’s largest trading partners, it had the third largest decline in exports in 2025, $853 million (36.5%).

Exports to the United Kingdom, Switzerland and Hong Kong increased, with those to Switzerland and the United Kingdom over triple the 2024 amount, primarily reflecting significant growth in the trade of goods manufactured from nonferrous metal, excluding aluminum. Export growth was likely influenced by the significant increase in prices of the underlying metals. Excluding these products, New York exports declined, on a net basis, by $3.4 billion

.

Read more at the Comptroller’s Website

Industry Bullish On Commerce Department Draft License Process For Novel Space Activities

US commercial space firms are by and large welcoming a Commerce Department proposal for a one-stop licensing shop for currently unregulated operations, including a number of new missions — such as on-orbit refueling, satellite repair and close-up inspections — that the Space Force hopes to be able to at least partially outsource to commercial firms in the future. “By providing a predictable and repeatable pathway to launch, this proposal will help the administration meet and exceed their goal to attract at least $50 billion of new investment in American space markets,” president of the Commercial Space Foundation Dave Cavossa said.

“Our proposal expedites and streamlines today’s laborious and sometimes duplicative system for regulating the commercial space industry with a consolidated space commerce certification process,” the Commerce Department draft proposal states. Our new ‘Space Commerce Certification’ can get companies to ‘yes’ with predictability and speed, allowing them to swiftly explore new technologies and missions to bring benefits to the American economy.” Companies would still require licenses from other regulatory bodies — the Federal Communications Commission that regulates use of spectrum, the Federal Aviation Administration responsible for ensuring spaceflight safety, and Commerce’s National Oceanic and Atmospheric Administration that licenses remote sensing operations — and those bodies would still be able to weigh in within 30 days with any objections.

Read more at Breaking Defense

GM Investing Over $150M for Next-Generation V8s

General Motors Corp. announced a new capital investment program for its Saginaw (Mich.) Metal Casting Operations, indicating the new manufacturing equipment and tooling will support production of the automaker’s “sixth generation” V-8 engine blocks and cylinder heads for full-size pickup trucks. Those models include the Chevrolet Silverado HD and GMC Sierra HD vehicles, the production volume for which GM recently announced it will increase by an estimated 1,100 vehicles per day.

The sixth-generation V-8 is a small-block, 6.7-liter engine also called the LS6 and set to debut in the 2027 Chevrolet Corvette Stingray and Grand Sport. According to GM’s announcement, its commitment builds the $579-million investment from January 2023 to manufacture the new V-8 engines. “This significant investment of over $150 million is a clear commitment to the plant and our people,” stated Saginaw Metal Casting Plant director John Lancaster. “By enabling the production of next-generation engine blocks and cylinder heads for full-size trucks, the plant is well-positioned for the future.

Read more at American Machinist

FDA Approves New GLP-1 Weight Loss Pill from Eli Lilly

The U.S. Food and Drug Administration (FDA) has approved a new weight loss pill from drugmaker Eli Lilly, marking the second GLP-1 in pill form to hit the market in recent months. On Wednesday, April 1, Eli Lilly announced that its drug Foundayo had been approved for adults with obesity and overweight people with weight-related medical problems. The drug, also called Orforglipron, will be available via the company's LillyDirect service, with prescriptions accepted immediately and shipping beginning Monday, April 6.

According to Eli Lilly, Foundayo will be offered in six doses. Most patients who take the drug will start on the lowest dose and work their way up to reduce side effects. The pill can also be taken at any time of day without meal restrictions — unlike Novo Nordisk’s Wegovy pill, released in December, which must be taken on an empty stomach in the mornings. Eli Lilly also said in its announcement last Wednesday that costs could start at $25 per month with commercial coverage, but it is currently unclear how private insurance companies will cover the drug. Medicare could begin covering Foundayo as early as summer 2026, with copays starting at $50 per month, per NBC.

Read more at AP

North American Farmers Pinch Pennies On Farm Machinery As Profitless Growing Season Approaches

Farm machinery salespeople are wrapping up ​a dismal season of farm shows across North America as farmers gear up for spring planting without much new equipment. Farmers have ‌not stopped buying, but many have slashed spending and are avoiding big-ticket items due to high machinery, fertilizer and fuel prices, as well as a global grains glut pushing down crop prices. "They might not buy the million-dollar combine, but they'll buy a $100,000 implement," said Chad Jones of manufacturer Degelman Industries.

Farm machinery sales have been hammered by a squeeze on farmer finances exacerbated by U.S. President Donald Trump's trade war ​tariffs that have escalated the production cost of already-expensive machines like tractors and combines. These items, known by farmers as "big iron," are manufactured from large amounts of steel and often with imported components. In its most recent quarterly ‌earnings call, ⁠a John Deere (DE.N), opens new tab official said the company estimates tariffs will cost it $1.2 billion in 2026, and that not all of 2025's tariff costs had been passed on to farmers. Last Friday, Trump called on the manufacturers to cut prices in order to help farmers. But for the beleaguered industry, Trump's tariffs are the problem. The easiest way to bring the cost of machinery down would be "to significantly scale back on the tariffs that are hitting the manufacturers, and ​the retaliatory tariffs that are hitting ​farmers," said Kip Eideberg of the ⁠Association of Equipment Manufacturers.

Read more at Reuters

Tesla Q1 Deliveries Higher, But Miss Estimates In Challenging EV Landscape

Tesla (TSLA) released first quarter deliveries that missed estimates on Thursday, reporting another slip in sales in a challenging EV landscape. Tesla delivered 358,023 vehicles globally versus 364,645 expected, per Bloomberg consensus, up 6.3% year over year, though the company’s total from last year was down due to the changeover to the new Model Y, which impacted sales. Tesla produced 408,386 vehicles globally in Q1.

Tesla’s energy business deployed 8.8 GWh of energy storage products in the quarter, down sequentially compared to the 14.2 GWh deployed in Q4. Tesla’s Q1 2026 deliveries are up only marginally compared to a poor quarter for the company last year. In addition, backlash a year ago against CEO Elon Musk’s role in the White House was at its highest, with protests at Tesla dealerships around the globe.

Read more at Yahoo Finance

Where is Artemis II? Follow Updates As NASA Mission Approaches The Moon Today

Astronauts on the Artemis II mission to orbit the moon are preparing for perhaps the most exciting phase of their journey, when they will lay eyes on the far side of the moon, as they continue on their trajectory on Sunday, April 5. The Artemis II crew has traveled over 206,482 miles from Earth and is closing the distance with each passing second. The lunar flyby will happen today, April 6, in a roughly six-hour window when the sun, moon and Orion spacecraft are aligned to give the crew a view of the far side of the moon that can't be seen from Earth.

You can follow along on the crew's exact movements using NASA's Artemis II tracker. The tracker, called the "Artemis Real-time Orbit Website" (AROW), shows how far the Orion capsule is from Earth, its distance from the moon and how fast it's traveling. The tracker uses data collected in real time by sensors on Orion that are sent to the Mission Control Center in Houston. The website is being constantly updated, and users can see moment-by-moment updates to the space mission's position.

Follow the Mission on the NASA Tracker

Daily Market Update Apr 02, 2026

The May ’26 natural gas contract is trading down $0.01 at $2.82. The May ‘26 crude oil contract is down $12.06 at $112.31.  

Read more at NRG

Learn more about the Council of Industry Energy Buying Group

Quote of the Day

“The most exciting phrase to hear in science, the one that heralds the most discoveries, is not "Eureka!" but 'That's funny...”

Isaac Asimov - Russian American Author and Scientist who died on this day in 1992.

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