In South Jersey, manufacturing inches up, but jobs still falling
Manufacturing activity at South Jersey firms expanded in October after five straight months of contraction, though employment in the industry fell to its lowest point in three years, an economist said.
The latest Business Outlook survey today released by the Federal Reserve Bank of Philadelphia indicated nearly 30 percent of manufacturers saw business activity increase through Oct. 16, outpacing the 23 percent reporting a decline.
But Michael Trebing, an economic analyst for the bank, said “the fact that orders and shipments have not changed much suggest things are still somewhat flat.” (Eder, NJBIZ)
