Industrial Production Index (Monthly Change) vs Nonfarm Payrolls (Monthly Change)
Industrial Production Index (Monthly Change) is currently -0.3% (down -1.0%). Nonfarm Payrolls (Monthly Change) is currently 228K (up +111.0K).
| Metric | Industrial Production Index (Monthly Change) | Nonfarm Payrolls (Monthly Change) |
|---|---|---|
| Current value | -0.3% | 228K |
| Previous reading | 0.7% | 117K |
| Change | -1.0% | +111.0K |
| Trend | down | up |
| Frequency | Monthly | Monthly |
| Source | Federal Reserve | Bureau of Labor Statistics |
| Last updated | 2026-03-18 | 2026-04-04 |
| Category | growth | employment |
What Industrial Production Index (Monthly Change) measures
The Industrial Production Index measures the real output of manufacturing, mining, and electric and gas utilities. It is a coincident indicator that moves with the business cycle and reflects the goods-producing sector of the economy.
Industrial production fell 0.3% in March after strong February gains. Manufacturing, which accounts for about 75% of the index, has been volatile as companies adjust inventory levels. For executives in manufacturing and industrial sectors, the mixed readings suggest uneven demand rather than a clear downturn. The services sector remains the primary driver of U.S. economic growth.
What Nonfarm Payrolls (Monthly Change) measures
Nonfarm payrolls measure the net change in employment across all sectors except farming. It is the most closely watched indicator of labor market momentum and is released on the first Friday of each month.
The economy added 228,000 jobs in March, a strong rebound from February's 117,000. Economists generally consider 150,000+ jobs per month as healthy growth. For executives, strong payroll numbers confirm consumer spending capacity and may signal the Fed will maintain or raise interest rates. Sector breakdowns reveal which industries are expanding — critical for workforce planning and market sizing.
Frequently asked
Industrial Production Index (Monthly Change) is currently -0.3%, down -1.0% from the previous reading. Source: Federal Reserve, updated monthly.
Nonfarm Payrolls (Monthly Change) is currently 228K, up +111.0K from the previous reading. Source: Bureau of Labor Statistics, updated monthly.
Industrial production fell 0.3% in March after strong February gains. Manufacturing, which accounts for about 75% of the index, has been volatile as companies adjust inventory levels. For executives i The economy added 228,000 jobs in March, a strong rebound from February's 117,000. Economists generally consider 150,000+ jobs per month as healthy growth. For executives, strong payroll numbers confi