Factory Hiring Was Shrinking for 33 Straight Months. That Just Ended.

Yesterday’s ISM report buried a number that changes the story on American manufacturing.

ISM Mfg. Employment — Consecutive Months Below 50

17	21	10	8	33
2001-02 Dot-Com	2008-10 Crisis	2015-16 Slowdown	2020 COVID	2023-26 Just Ended

Above 50 = hiring. Below 50 = cutting. July 2026 broke the streak at 52.8.

Source: ISM Manufacturing Report on Business, 2001–2026

For almost three years straight, American factories were cutting workers. Not a quarter. Not a year. Thirty-three consecutive months where the ISM Manufacturing Employment Index sat below 50 — the line between hiring and firing.

Yesterday, that streak ended. Manufacturing employment came in at 52.8 in July... the first expansion reading since September 2023. Most people focused on the headline PMI hitting 55.6, the strongest in over four years. That’s a fine number. But it’s not the one that changes the picture.

Look at the chart. The Great Recession — the worst economic downturn since the 1930s — produced a factory hiring slump of about 21 months. The dot-com bust: 17. COVID: 8. The streak that just ended? Thirty-three. More than 50 percent longer than the financial crisis.

And here’s the part that really gets me. Every factory job generates roughly two to three more in the local economy — parts suppliers, truck drivers, diners, daycare. When manufacturers go 33 months without adding a single net worker, whole towns feel it. When hiring finally flips back... those same towns start to breathe again.

Apple just sent a powerful signal to investors

The sleeper play with an 8/14 deadline.

Apple just crossed a historic milestone.

The company reached a $5 trillion market value as shares climbed 25% this year.

New product launches, growing interest in foldable phones, and a leasing program built to drive more frequent upgrades.

One thing is clear:

The smartphone isn't going anywhere.

It's becoming even more valuable.

That's exactly why Mode Mobile has investors paying attention.

Instead of competing with Apple, Mode is building on top of the smartphone ecosystem.

Its EarnOS platform is designed to help users earn from the time they already spend on their phones, creating value from everyday mobile activity.

And unlike many pre-IPO companies, Mode has already built meaningful traction:

490M+ users
$115M+ lifetime revenue
$1B+ earned and saved by users
170+ countries served
60,000+ investors

Mode was also ranked North America’s #1 fastest-growing software company in 2023 by Deloitte after posting 32,481% growth.

Investors can still purchase pre-IPO shares for $0.52 per share before the price changes on August 14.

⏰Details here on how you can invest before the 8/14 deadline.

Chart of the Day — August 4, 2026

Production surged to its highest level in almost five years yesterday. New orders up. Export orders just flipped positive. Backlogs growing. Factories aren’t just running again. They’re staffing up to run harder.

The Takeaway

“American factory hiring just ended 33 consecutive months of contraction — the longest manufacturing employment slump in modern history. When factories start adding workers, the ripple runs through every supplier and small business in the supply chain.”

If you own industrials, materials, or small-cap stocks tied to domestic manufacturing, yesterday’s ISM report deserves more than a glance. Pull up the employment sub-index. It just crossed a line it hadn’t crossed since September 2023. That’s worth a conversation with your advisor this week.

More tomorrow. Stay sharp.

— Ray Calloway

DISCLOSURES:

Please read the offering circular and related risks at invest.modemobile.com.

Mode Mobile received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

Mode revenue and EBITDA numbers include full year revenue and EBITDA of businesses acquired by Mode Mobile in 2025.

American Factories Just Started Hiring Again for the First Time Since September 2023.

Factory Hiring Was Shrinking for 33 Straight Months. That Just Ended.

Apple just sent a powerful signal to investors

More from Chart of the Day