Tag: hiring

Philly Fed: Manufacturing Activity Remained Strong in December

The Federal Reserve Bank of Philadelphia said that manufacturing activity remained strong in December. While the composite index dropped from 40.8 in November to 24.5 in December, that figure continues to reflect healthy gains in demand and output. The November data points were outliers in terms of their strength, with December’s report reflecting figures that were closer to the average of the second half of 2014 (27.0). Manufacturers in the Philly Fed region have cited marked improvements since the first half, when the composite index contracted in February and averaged just 10.3 over the first six months of the year. (continue reading…)

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NFIB: Small Business Optimism Hit a Pre-Recessionary High in November

The National Federation of Independent Business (NFIB) said that small business sentiment reached a pre-recessionary high in December. The Small Business Optimism Index rose from 96.1 in October to 98.1 in November, its highest level since February 2007. This is a significant milestone, particularly given the fact that smaller firms have struggled much longer than their larger counterparts to see progress in terms of activity and outlook. Along those lines, the index remains below 100, a level that would indicate strong growth in the sector. Still, this latest data suggests movement in the right direction. (continue reading…)

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Jobs Numbers Strong in November; However Headwinds Remain

The Bureau of Labor Statistics said that manufacturers added 28,000 net new workers in November, extending the revised increase of 20,000 in October. This was a relatively strong number, suggesting that the manufacturing sector has averaged just shy of 15,000 additional employees per month through the first 11 months of 2014. Since the end of 2009, manufacturers have hired an additional 740,000 workers on net.

These data show that the more-robust growth in new orders and output seen in other indicators are beginning to translate into healthier hiring figures. Indeed, manufacturing leaders remain mostly upbeat in their outlook, which should bode well for hiring in the sector as we move into 2015. At the same time, there also continues to be worries about the global economy as well as concern over other headwinds such as rising health care costs and regulatory burdens. (continue reading…)

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ADP: Manufacturers Added 11,000 Workers in November

ADP said that manufacturers added 11,000 net new workers in November. It was the tenth straight month of employment gains in the sector, rebounding after a weak January. Over that 10-month period, manufacturing firms averaged 11,799 net new hires per month, with an 18,217 average over the past four months. This suggests that manufacturers have begun to step up their hiring a bit in the autumn months, which is promising. (continue reading…)

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ISM: Manufacturing Activity Remained Healthy in November

The Institute for Supply Management’s (ISM) manufacturing purchasing managers’ index (PMI) edged marginally lower, down from 59.0 in October to 58.7 in November. October’s reading had been the highest level since March 2011. Despite the slight decrease, it is clear that manufacturing activity remained healthy in November. The headline PMI figure has averaged 58.1 so far in the second half of 2014, which represents progress from the average of 54.0 for the first half of the year. Moreover, the sector has largely rebounded from the weather-related softness in January (51.3). (continue reading…)

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Richmond Fed: Manufacturing Activity Expanded at a Slower Rate in November

The Richmond Federal Reserve Bank said that manufacturing activity expanded at a slower rate in November. The composite index of general business conditions declined from 20 in October to 4 in November. To be fair, the October figure represented the fastest pace since December 2010, and as such, some pullback might have been expected. The larger story is that manufacturers in the Richmond Fed district have now reported expanding levels of activity for eight straight months, with the headline index averaging 9 over that time frame. This suggests modest growth overall. (continue reading…)

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Dallas Fed: Manufacturing Activity Continued to Expand in November

The Dallas Federal Reserve Bank said that manufacturers continued to expand in November. The composite index of general business conditions was unchanged at 10.5 for the month. It has averaged 9.7 over the past nine months, which was progress from the 0.3 index reading in February. As such, we continue to see modest gains among manufacturers in the Dallas Fed district, with mostly positive expectations about the future. (continue reading…)

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Kansas City Fed Reported Increased Manufacturing Activity in November

The Federal Reserve Bank of Kansas City said that manufacturing activity picked up somewhat in its district in November. The composite index rose from 4 in October to 7 in November, its highest level in four months. Along those lines, the pace of production (up from 3 to 9), shipments (up from zero to 7) and employment (up from 6 to 9) improved for the month. In addition, export sales (up from -9 to 8) were positive for the first time since April. Yet, growth remains far from robust, with new orders (down from 2 to 1) decelerating for the fourth consecutive month and just barely above neutral. (continue reading…)

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Wisconsin Added the Most Manufacturing Jobs in October

The Bureau of Labor Statistics said that Wisconsin created the most net new manufacturing workers in October, hiring 5,400 additional employees for the month. Other states with significant increases in manufacturing employment in October included Pennsylvania (up 2,700), Indiana (up 2,500), Minnesota (up 2,300), Oregon (up 2,200) and South Carolina (up 2,100). Looking over the past 12 months, the five states with the greatest manufacturing employment gains were Indiana (up 24,100), Texas (up 14,900), Ohio (up 13,700), Wisconsin (up 12,100) and Minnesota (up 10,500). (continue reading…)

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Philly Fed Manufacturers Were Very Positive about Activity in November

The Federal Reserve Bank of Philadelphia said that manufacturing activity expanded very strongly in November, with its composite index measuring an off-the-chart 40.8 for the month. This was up from 20.7 in October, and you would have to go back two decades to find a higher figure (December 1993’s 41.2 reading). In fact, 49.2 percent of respondents to the Manufacturing Business Outlook Survey said that conditions had improved in November, up from 34.2 percent who said that same thing in October. Along those lines, the Philly Fed survey has registered above average index figures since the first quarter, averaging 23.0 from April to November. That suggests that manufacturers in the district are currently very positive about their businesses. (continue reading…)

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