Federal Reserve Bank of Richmond (06/24/14)
A recent survey by the Federal Reserve Bank of Richmond shows a slight increase in manufacturing activity in the mid-Atlantic region in June, though manufacturing employment weakened. The manufacturing employment index dropped to three in June from 10 in May. Numbers above zero indicate growth.
Meanwhile, the index for the average workweek rose four points to seven, and the index for average wages fell 10 points to 12. During the next six months, survey participants expect hiring to pick up, wage growth to strengthen, and the average workweek to increase.
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