Fed: Autumn hiccup for N.Y.-region manufacturers
New York-region manufacturers reported a November slowdown from a previously brisk pace of production, while still optimistic about order activity and hiring through the first half of 2019.
New orders increased only modestly in November, according to the latest monthly installment of the Empire State Manufacturing Survey published by the Federal Reserve Bank of New York, whose jurisdiction extends across the Connecticut border to encompass Fairfield County.
Employers indicated their hiring needs remain strong, according to the New York Fed, with an employment index the lone indicator to see an increase in the survey released Monday, with declines otherwise in general business conditions, new orders, inventories and average hours worked.
Connecticut manufacturing industry employment rose three straight months through October, according to the most recent estimates from the state Department of Labor, which is scheduled to publish November’s labor update on Thursday. At an estimated 164,700 jobs as of October, Connecticut manufacturing workforces were at their highest level since September 2009.
On the Indeed jobs board, more than 2,700 open manufacturing jobs are listed as available, with Danbury trailing only Windsor statewide with close to 100 slots manufacturers are looking to fill, many of them posted by staffing agencies.
Alex.Soule@scni.com; 203-842-2545; @casoulman