Demand has risen for workers of all skill levels, particularly those with technical backgrounds, and wage growth is higher than this time last year. Respondents also report an increased frequency of job vacancies. Several temporary employment agencies, specializing in high-skill areas such as law, engineering, and healthcare, have recently emerged. Manufacturing Industrial activity is expanding at a good pace across most sectors. Capital goods producers report further increases from an already high level of production.
Steel producers indicate large output gains in the past month or two.
Manufacturing activity is generally expected to remain quite strong through the spring, as new orders are reported to have risen and the backlog is up from the beginning of the year. Only export orders have diminished since the last District report. While some rise in manufacturers' inventories has been seen, stocks are still moderate relative to the current level of sales. Industrial price increases vary by commodity, but in the aggregate, prices appear unchanged. Significant price increases are seen for a variety of metals, particularly steel.