Overview
- Manufacturing revenue for January–November 2025 rose 0.3% from a year earlier, signaling only marginal cumulative growth.
- Industrial employment fell 0.2% in November, marking a third straight monthly drop and a 0.6% decline since September, though it remains up 1.7% year to date.
- Hours worked decreased 0.7% in November, while the January–November tally shows a 0.9% increase compared with the same period in 2024.
- Utilization of installed capacity slipped to 77.5% in November, down 0.6 percentage point from October and 2.4 points below November 2024.
- After four monthly declines, industrial payroll mass rose 1.5% in November and average pay increased 1.6%, yet they are still down 2.3% and 4% respectively for the year through November.