The Empire State Manufacturing survey general business-conditions index rose 3 points to 25.6 in August, a 10-month high, as “business activity expanded strongly.”

The August results suggest that “business activity remained robust in New York State, according to firms responding” to the survey, the Federal Reserve Bank of New York said in a news release issued Aug. 15. 

The August rise follows a 2-point decline in the benchmark index in July.

A positive reading indicates expansion or growth in manufacturing activity, while a negative reading on the index indicates a decline in the sector.

The survey found 42 percent of respondents reported that conditions had improved over the month, while 16 percent said that conditions had worsened.

Survey details

The new-orders index was little changed at 17.1, and the shipments index rose 11 points to 25.7, readings that “reflected strong growth,” the New York Fed said. 

Unfilled orders increased, and inventories “held steady.” The delivery-time index went up 4 points to 10.4, indicating that delivery times “continued to lengthen.”

The index for number of employees edged lower, but at 13.1, “pointed to a pickup” in employment levels. The average-workweek index was 8.9, indicating a “modest” increase in hours worked. 

Price increases remained “elevated.” The prices-paid index inched up to 45.2, and the prices-received index came in at 20.0.

Firms remained “moderately optimistic” about the 6-month outlook, “though less so than earlier this year.” 

The index for future business conditions climbed 4 points to 34.8. The indexes for future unfilled orders and future delivery times both turned negative, suggesting that “businesses expect fewer unfilled orders and shorter delivery times.” 

Respondents expect employment to increase in the months ahead, and the indexes for future prices remained elevated. 

The capital-expenditures index moved up 10 points to 26.7, and the technology-spending index rose 3 points to 12.6.

The New York Fed distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses.         

Unemployment rates in the Syracuse, Utica–Rome, Watertown–Fort Drum, Binghamton, Ithaca, and Elmira regions declined in July compared to a year ago.

The figures are part of the latest New York State Department of Labor data released Aug. 24.

In addition, the Syracuse, Ithaca, and Binghamton regions gained jobs between July 2017 and this past July.

But the Utica–Rome, Watertown–Fort Drum, and Elmira regions had no change in jobs in the last year

That’s according to the latest monthly employment report that the New York State Department of Labor issued Aug. 16.

Regional unemployment rates

The regional unemployment rates are available in the above chart.

 The local-unemployment data isn’t seasonally adjusted, meaning the figures don’t reflect seasonal influences such as holiday hires.

The unemployment rates are calculated following procedures prescribed by the U.S. Bureau of Labor Statistics, the state Labor Department said.

State unemployment rate

New York state’s unemployment rate decreased from 4.5 percent in June to 4.3 percent in July, which “matches New York State’s lowest level since March 2007,” the state Labor Department said.

In addition, the number of unemployed New Yorkers fell in July, from 430,400 to 419,800, “reaching its lowest level since April 2007.”

However, New York’s 4.3 percent unemployment rate was higher than the U.S. unemployment rate of 3.9 percent in July.

The federal government calculates New York’s unemployment rate partly based upon the results of a monthly telephone survey of 3,100 state households that the U.S. Bureau of Labor Statistics conducts.

July jobs data

The Syracuse region gained 4,200 jobs in the past year, up 1.3 percent.

The jobs gain of 2,200 positions in the Ithaca region between July 2017 and this past July represents an increase of 3.6 percent.

The Binghamton region gained 700 jobs, up 0.7 percent in the past 12 months.

The Utica–Rome, Watertown–Fort Drum, and Elmira metro regions posted no job gains or losses in the past year.

New York state as a whole gained nearly 157,000 jobs, an increase of 1.6 percent, in that 12-month time period. The state economy gained 8,800 jobs, a 0.1 percent rise, between June and July, the labor department said.