This report summarizes responses to topical questions posed periodically in the New York Fed’s Empire State Manufacturing Survey and Business Leaders Survey.
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Supplemental Survey Report
November 2023: Workforce Issues
In response to questions on workforce issues in the November regional surveys, 35 percent of service firms said they plan to add workers while 14 percent indicated planned reductions. Among manufacturers, 33 percent expect to add workers while 15 percent eyed reductions. When asked whether they were increasing starting wages/salaries to attract new hires, 33 percent of service firms and 28 percent of manufacturers said they were raising wages for most job categories, down from 55 percent and 59 percent, respectively, a year ago. Twenty-six percent of service firms and 33 percent of manufacturing firms said they are not actively hiring, roughly double the rate from last year.
Read the full report “Firms Expect Continued Hiring, but at a Slower Pace.”
Regional Economy
Read the full report “Firms Expect Continued Hiring, but at a Slower Pace.”
Related Reading
Additional research and data from our Regional team:Regional Economy
Reports
2023 |
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| November | Workforce Issues Firms Expect Continued Hiring, but at a Slower Pace |
| August | Trends in Remote Work Businesses Expect Current Amount of Remote Work to Persist into Next Year Related reading: Liberty Street Economics post |
| May | Credit Access and Credit Conditions Businesses Report Only Minor Deterioration in Recent Credit Conditions, but Remain Cautious in the Near Term |
| February | Expected Changes in Workforce and Wages; Minimum Wage Effects Wages Up 5-6 Percent in the Past Year; Gains Expected to Moderate over the Next Year |
2022 |
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| December | Selling Prices, Input Prices, and Overall Inflation Businesses Foresee Inflation Moderating Next Year |
| November | Workforce Issues Firms Struggling to Expand Workforce |
| August | Trends in Remote Work Service Sector Businesses See Remote Work Persisting Related reading: Liberty Street Economics post |
| May | Expected Selling Prices and Overall Inflation Businesses See Inflation Moderating after Next Year Related reading: Liberty Street Economics post |
| February | Labor and Supply Shortages, Absenteeism, and Minimum Wage Businesses Hampered by Supply Disruptions, Labor Shortages, and Absenteeism Related reading: Liberty Street Economics post |
2021 |
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| December | Prices Paid and Supply Disruptions Businesses Report Sharp Acceleration in Most Costs |
| November | Supply Chain and Workforce Issues Supply Disruptions Seen Worsening; Firms Struggling to Expand Workforce |
| October | Supply Disruptions Supply Disruptions Taking a Toll on Many Businesses Related reading: Liberty Street Economics post |
| August | Difficulties in Filling Job Openings Most Businesses Having Difficulty Filling Job Openings |
| June | Sales Activity, Employment Levels, and Remote Work Businesses Expect a Strong Half of 2021 and More Remote Working after the Pandemic |
| April | Business Revenues, Constraints, and Wages Business Revenues Seen Rebounding When Conditions Return to Normal Related reading: Liberty Street Economics post |
| February | Minimum Wage Effects and Supply Disruptions Manufacturers Report More Unfilled Jobs, Note Fairly Widespread Supply Disruptions |
Archive
Past Supplemental Survey Reports, 2014-20
Predecessor Reports (supplementing Empire survey only), 2008-13
About Supplemental Survey Report
The New York Fed’s core regional surveys query manufacturing and service sector firms on issues affecting their businesses. A Supplemental Survey Report now publishes four times per year.
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