The index calculation is based on data collected from a monthly survey of supply managers from 18 US industries. Respondents estimate employment situation in their company in the past month: whether it has improved, deteriorated or has not changed. The collected data are processed and compiled to a diffuse index. The index weight in the total manufacturing PMI calculation is 20%.
The ISM Manufacturing Employment index is usually closely correlated with other data released by the Bureau of Labor Statistics. Growth of employment in the manufacturing sector usually reflects a generally positive situation in the labor market: manufacturers hire more employees, so the number of jobs is growing, and the unemployment rate is declining.
I expect a full reversal of astronomical measurements in May when the PMI will be presented to the public. I expect to see the highest unemployment rate ever in the US and globally in the next 28 months.