Tag: hiring

Tennessee Added the Most Manufacturing Jobs in December; Indiana for 2014 as a Whole

The Bureau of Labor Statistics said that Indiana created 25,500 net new jobs in 2014, the most of any state. Durable goods firms accounted for the bulk of that growth, with 21,900 new workers year-over-year. Indeed, when looking at major sectors in Indiana, a number of fast-growing durable goods industries rise to the top of the list, including motor vehicles, primary metals, fabricated metal products and aerospace. Ohio (up 16,400), Texas (up 11,800), Wisconsin (up 10,800), Michigan (up 9,800) and North Carolina (up 9,500) also had significant manufacturing job growth in 2014.

In December, Tennessee topped the list for manufacturing job creation, creating 2,800 net new jobs in the month. Other states with notable increases in December include Illinois (up 2,300), Pennsylvania (up 2,000), Indiana (up 1,600), Iowa (up 1,600) and Ohio (up 1,500). (continue reading…)

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Richmond Fed: Manufacturing Activity Continues to Grow Modestly

The Richmond Federal Reserve Bank said that manufacturing activity continued to expand modestly in January. The composite index of general business conditions edged marginally lower, down from 7 in December to 6 in January. While this represented a slower pace than the more-robust growth seen in October, when the composite index measured 20, it did represent the tenth consecutive monthly expansion in the Richmond Fed district. Moreover, growth in shipments (up from 5 to 10), capacity utilization (up from -5 to 9) and the average workweek (up from 4 to 8) accelerated for the month, which were encouraging signs. (continue reading…)

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Dallas Fed: Reduced Energy Prices Have Weakened Manufacturing Activity

Texas manufacturers have been hurt by lower petroleum prices. The Dallas Federal Reserve Bank said that manufacturing activity contracted in its district for the first time since May 2013, with reduced energy prices weakening demand and dampening the outlook. The composite index of general business activity has declined from 10.1 in November to 3.5 in December to -4.4 in January. The bulk of the sample comments, for instance, mentioned crude oil prices, both for those in the energy supply chain and from others who are worried about the impacts on the broader Texas economy.   (continue reading…)

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Business Economists Were More Optimistic in the Latest Industry Survey

The National Association for Business Economics (NABE) said that sales and earnings have improved, with a mostly upbeat outlook for 2015. The latest Business Conditions Survey observed that industry participants were more optimistic in January than they were in October. The percentage of respondents saying that their sales were rising increased from 49 percent three months ago to 54 percent now. This was somewhat offset, however, by an increase in the percentage suggesting that their sales were falling, up from 7 percent to 15 percent. Therefore, the news on current demand was mixed. Still, business leaders continue to be positive moving forward, with 69 percent of goods-producing respondents expecting sales to rise in the next three months, up from 58 percent in October. (continue reading…)

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Kansas City Fed: Manufacturers Began the New Year on a Softer Note

The Kansas City Federal Reserve Bank said that manufacturing activity slowed in January, beginning the new year on a softer note. The composite index of general business conditions dropped from 8 in December to 3 in January, its lowest level in five months. Underlying this figure, new orders (down from 14 to -8), production (down from 7 to -2), shipments (down from 8 to -5) and exports (down from zero to -7) declined for the month, and hiring (down from 8 to zero) stagnated. On the positive side, it was the 13th straight month with expanding levels of sentiment, and manufacturers remain mostly optimistic about the coming months. (continue reading…)

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Philly Fed: Manufacturing Activity Slowed in January, but Outlook Remains Strong

Manufacturers in the Philadelphia Federal Reserve Bank district reported somewhat slower growth in January. The composite index of general business conditions fell from 24.3 in December to 6.3 in January, starting 2015 off on a slightly weaker note. Yet, it was the eleventh straight monthly expansion, and the composite index averaged a sky-high 25.1 in the second half of 2014. Some moderation in growth might have been expected at some point. (continue reading…)

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New York Manufacturers Expanded Again in January After Contracting in December

The Empire State Manufacturing Survey found that activity expanded again in January after contracting slightly in December. The New York Federal Reserve Bank’s composite index rose from -1.2 in December to 10.0 in January. (Note that historical data were revised this month to incorporate new seasonal adjustments.)

This was good news and a positive way to begin 2015, with increased sales (up from 0.4 to 6.1), shipments (up from 2.6 to 9.6) and employment (up from 8.3 to 13.7). Indeed, one-third of those responding to the survey said that there were increased new orders in January, up from 26.0 percent in December. Still, the average employee workweek 8.4) (up from -11.5 to -continue to narrow, despite some progress for the month. The workweek should begin to improve, however, with increased activity. (continue reading…)

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Manufacturing Job Openings Increased Sharply in November

The Bureau of Labor Statistics said that manufacturing job openings increased sharply, up from 287,000 in October to 318,000 in November. This was the fastest pace observed since August 2007, four months before the start of the Great Recession. The number of postings in the sector has risen over the course of this year, increasing from its low point of 2014 in February, which had 258,000 manufacturing job openings.  In November, job postings were higher for both durable (up from 182,000 to 191,000) and nondurable (up from 105,000 to 127,000) goods industries. (continue reading…)

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BLS: Manufacturers Added 17,000 Workers in December

Manufacturers added 17,000 net new workers in December, extending the increase of 29,000 in November, according to the Bureau of Labor Statistics. This continues to suggest that manufacturers are increasing their workforces at a decent rate, consistent with recent gains in demand and output. (continue reading…)

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ADP: Manufacturers Added 26,000 Workers in December

ADP said that manufacturers added 26,000 net new workers in December. After a weak January, the sector has generated jobs each month. Over that 11-month period, manufacturing firms averaged nearly 14,000 net new hires per month, with an 18,764 average each month in the second half of the year. 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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