A recent survey shows a mixed picture for manufacturing activity in New York State.
The monthly report from the New York Federal Reserve shows that manufacturing activity in the state expanded at a modest pace in February, held back by weaker orders and hiring. The survey shows that manufacturers in the state are less optimistic about the future of the economy than they were just last month.
Locally-based Paychex puts out a small business index that looks at hiring nationwide. CEO Marty Mucci tells WXXI News that some of the numbers in the recent New York Fed survey are similar to trends his company has been seeing.
"Employment that matches what we've seen...is still better than our base year which is 2004, and while it's down a little bit from last year it still is positive, and growth in small business is up."
Mucci also says the Paychex survey shows hiring a bit more positive in the state, than the Empire Manufacturing survey. He says that survey may be skewed a bit because it also encompasses a part of New Jersey that has had some economic challenges recently.
Mucci says his company is e still seeing growth in the U.S. economy.
"Business starts are almost back to pre-recession levels...Housing starts were at the highest level in January that we've seen in about seven years. That's good for construction jobs and also other contracting jobs around home construction.”
Paychex will be out with its latest small business index in early March
