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US Midwest employment displays 4th month of growth
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US Midwest employment displays 4th month of growth
05 May 2010
Return to index
Employment figures in the Midwest region of the United States have improved for the fourth consecutive month, new research shows.
The Institute for Supply Management's Chicago Business Barometer also announced that order backlogs and supplier deliveries reached near-decade highs, while prices paid increased to their highest point for over 18 months.
The seasonally-adjusted employment index stood at 57.2 for April, compared to 53.1 in March and 42.4 last November.
Overall, production demonstrated its seventh month of expansion, climbing to 63.1.
Experts in the region could see the statistics as further proof that the US is gradually exiting one of its toughest economic periods in history, as readings above 50 indicate expansion.
"The pipeline for manufacturing is filling up," said John Brady, vice president of MF Global's Chicago division. The company specializes in execution and trade clearing services.
He told Reuters: "Manufacturing is on track and continues to expand - albeit slowly."
Posted by Fiona Summers
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