Member Briefing October 8, 2026

Posted By: Harold King Daily Briefing,

A Closer Look at the Manufacturing Jobs Data from Last Friday’s Report

Nonfarm payroll employment increased by just 29,000 in September, coming in below expectations. At the same time, the unemployment rate ticked up 0.1 percentage point from August to 4.2%, while the labor force participation rate rose 0.2 percentage points to 61.8% but is down from 62.5% in September 2025. Manfuacturing employment, however, was strong.

  • Manufacturing employment advanced by 9,000 in September after increasing by 15,000 in August.
  • In addition, the collective job gains in July and August of 30,000 were revised upward by 5,000 jobs to an increase of 35,000 jobs.
  • Manufacturing employment is up 40,000 over the year and up 72,000 since a recent low in December 2025.
  • Durable goods manufacturing employment climbed by 8,000 in September, while nondurable goods employment inched up by 1,000. T
  • he largest manufacturing job gain occurred in plastics and rubber products, which added 4,600 jobs over the month.
  • Meanwhile, the most significant loss occurred in paper manufacturing, which shed 2,600 jobs over the month.

Read more at The BLS

Tropical Storm Isaias Forms, Forecast To Become A Hurricane And Hit The U.S. Gulf Coast This Week

Tropical Storm Isaias formed early Wednesday in the warm waters off eastern Mexico and forecasters said it was expected to strengthen into the first hurricane of the Atlantic season before hitting the U.S. Gulf Coast later in the week. It was not immediately known where the storm may make landfall on the Gulf Coast. The Miami-based National Hurricane center’s initial projections said the center of Isaias could come onshore late Friday or early Saturday somewhere between eastern Louisiana and the western Florida Panhandle. People in those areas were urged to prepare for the storm.

Isaias, pronounced ees-ah-EE-ahs according to the hurricane center, is expected to bring areas of heavy rain to portions of the Gulf Coast and much of the U.S. Southeast on Friday and into the weekend, forecasters said. The storm comes as the Atlantic hurricane season has been unusually quiet this year due to a strong El Niño, which disrupts storm formation over that ocean. Storm activity in the Pacific has been above average.

Read more at Census.gov

10-Year Treasury Note Yield Hits Highest Level Since 2002 As Traders Brace For Key Bond Sale

U.S. Treasury yields climbed Wednesday, trading back around multiyear highs, as traders braced for the sale of 10-year notes at a time when rising yields have rattled investors around the world. The benchmark 10-year Treasury  was up nearly 8 basis points at 5.35% — its highest level since 2002. The 30-year Treasury bond rose 8.3 basis points to 5.724%, also reaching a 24-year high. The 2-year Treasury note yield was up 2.7 basis points to 4.818%.

One basis point equals 0.01%, and yields and prices move in opposite directions.

The Treasury sold $39 billion of 10-year notes in an auction on Wednesday testing whether yields are now attractive enough to draw buyers or investors will demand an even bigger premium, amid concerns about inflation, debt levels and term risk. The auction’s results will be released at 1 p.m. ET. This will be the second of three Treasury Department sales this week. The government sold $58 billion in 3-year notes on Tuesday and is scheduled to sell $22 billion 30-year bonds on Thursday.

Read more at CNBC

Iran and the Middle East

Ukraine

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Fed Minutes Show Hawkish Unity Behind September Rate Hike

Federal Reserve officials expect they will raise interest rates again before the end of the year to head off inflation that has run above target for more than five years, according to meeting minutes released Wednesday. But the meeting summary provided no indication of when specifically policymakers expected to raise benchmark rates – only that persistently higher prices and a stable labor market likely would lead to a second hike this year. The Fed next decides on rates on Oct. 28 and then again on Dec. 9. Discussion at the September meeting showed officials see risks that inflation will prove sticky, while the labor market is “close to maximum employment” and economic growth overall has picked up.

However, recent inflation data and comments from leading Fed officials indicate that at least for October, another increase is unlikely. The Fed’s preferred gauge – the personal consumption expenditures price index – showed core inflation at 3% for August and headline at 3.4%. While both readings were still well north of the central bank’s 2% target, they were considerably lower than expectations, benefiting in part from changes in the way some of the inputs are calculated.

Read more at CNBC

What Record Wall Street Numbers Could Mean For The N.Y. State Budget

New York State Comptroller Tom DiNapoli says Wall Street is heading for a record year, providing a boost to state tax revenue as New York begins looking toward its next budget. A new report from DiNapoli’s office shows Wall Street profits totaled $45.9 billion through the first half of the year, the highest two-quarter result on record. If the current pace of growth continues, annual profits could exceed a record $90 billion in 2026. “Wall Street is headed for a record year; profits are up significantly,” DiNapoli said. “Probably a much higher bonus pool than we had last year; all of that will mean more tax revenue for New York state,” DiNapoli said.

“All of the programs that we depend on in New York, whether it’s for education, healthcare, senior programs, childcare, you go down the long list. So when Wall Street is doing well, that has a positive impact on our tax revenue,” DiNapoli said. But as state spending continues to increase year over year and New York faces out-year budget gaps, DiNapoli cautioned that fiscal instability in Washington and general long-term uncertainty are still real threats. “It might lull us into a sense that it’s going to continue forever; we just don’t know that’s the case,” DiNapoli said.

Read more at NY State of Politics

Hochul, Ryan, AOC Visit Fishkill to Hear Data Center Concerns

Governor Kathy Hochul joined Congressional members Pat Ryan (D, NY-18) and Alexandria Ocasio-Cortez (D, NY-14), along with other elected officials, were at Fishkill Farm Tuesday to hear concerns about the future of data centers in New York. Several months ago, the Town of East Fishkill enacted a moratorium on data centers in town. Data centers are an integral part of the AI technology that continues to evolve. Congressman Ryan said the data centers issue transcends all the country’s current divides, noting that moratoriums have bipartisan support. “There is just no way we are going to let anybody come in here and literally poison our water, drive up our energy costs, and then use that technology to potentially affect humankind. It’s just not going to happen.”

Hochul, Ryan, and all but one panelist agreed that large-scale data centers would burden local communities. Panelist Michael Romita, Executive Director of the Westchester County Association, said the region needs data centers. IBM is planning to build a multi-billion-dollar Quantum computing facility in the Town of Poughkeepsie, and Romita said a data center is a necessary component. “Quantum computing relies on the Cloud, and the cloud needs data centers to function. “If a Cloud facility relocates to a region that allows data centers, Quantum computing will go with them,” he warned.

Read more at Mid-Hudson News

Read Micheal Morita’s Op Ed On the Moratorium

November Election Headlines

More Policy and Politics Headlines

Long COVID Fatigue May Be Linked to Reduced Blood Flow in the Brain

All 22 patients had only a mild case of COVID, and all but one caught it in 2020 or 2021. More than two years later, fatigue and trouble thinking were still limiting their daily lives, and their standard brain scans showed nothing unusual. So a team at Karolinska Institutet in Stockholm looked at something a routine scan does not show, which is how much blood was getting to each area of the brain while the patients concentrated.

In a study in NeuroImage Reports, the patients rated themselves as much more fatigued than a comparison group of healthy volunteers did, both before and after an attention task. Their reaction times were slower from the start, but did not slow down any faster as the task went on than the volunteers' did. Blood flow was lower in the patients too, both overall and in a few regions. “The study suggests that changes in brain blood flow may be part of the explanation for the fatigue and concentration difficulties described by many patients,” said lead author Sonia Miri Hedberg in a press release.

Read more at Discover Magazine

Upcoming Council Programs

Events

Annual Luncheon and Expo - Friday November 20, 11:00 AM - 2:00 PM. The Grandview, Poughkeepsie.

Insight Exchange - On Demand Webinars

The Orange County Foreign Trade Zone (FTZ): Duty Elimination, Reduction Deferral - Presented by Steve Gross, Orange County Economic Development

C3POA - Key Perpectives on your CMMC Compiance Journey - Presented by Nick DeLena, PKF O'Connor Davies.

CMMC for Legacy Equipment: Securing Specialized Assets with Zero Trust Micro-Enclaves - Presented by Marc Hoover, Trout Software.

See previous episodes here!

Training

Lean Six Sigma Yellow Belt, In Person at DCC Fishkill.  October 13, 14, and 15. 8:30 - 4:30.

Effective Business Communication, (A CML Course) October 21, 8:30 - 4:30. SUNY Orange Newburgh.

Making a Profit in Manufacturing, (A CML Course) October 28, 8:30 - 4:30. SUNY Orange Newburgh.

Lean Overview and Simulation, (A CML Course) November 19, 8:30 - 4:30. SUNY Orange Newburgh.

Risk Management: Enviroment Health and Safety, (A CML Course) November 19, 8:30 - 4:30. SUNY Orange Newburgh.

Strategies for Motivation, Coaching and Managing Difficult People, (A CML Course) November 19, 8:30 - 4:30. SUNY Orange Newburgh.

Trade Wars

Japan's Kenso Soai And France's Henri Kagan Win Nobel Chemistry Prize

Scientists Henri Kagan and Kenso Soai won the 2026 Nobel Prize ​in Chemistry on Wednesday for solving a long-standing riddle of asymmetric "mirror image" molecules, a discovery hugely important for pharmaceutical manufacturing. Soai, 76, is Japanese, and Kagan, 95, is French, and ‌their work built on a discovery by the 19th-century French chemist Louis Pasteur. Many of the molecules essential to life exist in two forms that are mirror images of each other, like left and right hands. Yet ​living organisms almost exclusively use only one version, a phenomenon known as "homochirality" – from the Greek word for hand – that has puzzled chemists for more than a century.

This year's prize was awarded for discoveries that showed how chemical reactions can be driven to favour a single molecular mirror image, work that has been key for chemists who design reactions for the manufacture of pharmaceuticals. "The left-handed version of the drug can have one effect, and the right-handed version can have another effect, and ​then we need methods for selectively preparing them," Peter Somfai, a member of the Nobel Committee for Chemistry, said. "In developing such methods the findings of this year's laureates are important. They provided powerful tools for ​that."

Read more at Reuters

Manufacturability, Costing Cited As Key Areas Of AI Impact: Xometry Survey

Upstream” activities like manufacturability and costing are the leading use cases for artificial intelligence in manufacturing, a recent Xometry survey found. Slightly more than half of manufacturers said they expect AI to have its biggest impact in those areas in 2027.

  • Forty-seven percent said AI would have the biggest impact on quality control and inspection, followed by production execution on the factory floor at 32% and supplier selection and qualification at 25%.
  • 57% of manufacturers reported significant returns from AI investments, compared to 44% a year ago.
  • Almost three-quarters said they are already applying AI to specific functions or have integrated it into their core operations.
  • The aerospace and defense industries are leading the way, with 82% of manufacturers planning to invest more than $500,000 in AI in 2027. Manufacturers in the robotics and automation industries came in second at 62%.
  • Although most survey respondents are seeing greater potential for AI in their operations, they are also encountering roadblocks. For example, 34% said AI and automation operators are now the hardest roles to fill.

Read more at Manufacturing Dive

Jaguar Unveils $130,000 Electric Vehicle Two Years After Controversial Rebrand

Luxury carmaker Jaguar has launched its new all-electric vehicle, two years after the famed British company’s controversial rebrand prompted a social media backlash. The automotive manufacturer, which is owned by India’s Tata Motors, unveiled the Type 01 model on Tuesday at an event in New York City, describing it as the “most technically advanced” and “most powerful and aerodynamic” Jaguar ever. It marks a radical new direction for the company, which was criticized in November 2024 when it revealed a series of changes ahead of becoming a fully electric brand.

Italy’s Ferrari and Britain’s Bentley have also launched their first EV models this year, seeking to test wealthy buyers’ appetite for going electric as luxury carmakers seek to compete with cheaper Chinese car brands. Jaguar confirmed to CNBC on Wednesday morning that the Type 01 model has a minimum price tag of $130,000 in North America. The four-door “Grand Tourer” has an ultra-long bonnet, low roofline, frameless doors and a camera instead of a rear window. It has a range of up to 450 miles and can accelerate from 0-62 miles per hour in 3.2 seconds.

Read more at CNBC

Boeing's Investment In Digital Design Drives F/A-XX win

Boeing has been selected by the U.S. Navy to build its next generation fighter jet, the F/A-XX, that will eventually replace its current fleet of F/A-18 Super Hornets. Boeing beat Lockheed Martin and Northrop Grumman in the competition. This is the company’s second major victory in the competition for combat aircraft programs after it received the contract for the F-47 fighter for the US Air Force last year. According to sources familiar with the course of the competition, Boeing spent years investing in production capacity, engineering capabilities, and digital design tools. The company also has many years of experience in building aircraft for aircraft carriers.

The F/A-XX will provide advanced carrier-based power projection that extends the range of U.S. Navy carriers. In addition, F/A-XX will be interoperable with manned and unmanned platforms such as Collaborative Combat Aircraft (CCA). Construction continues on Boeing's secure manufacturing facility, the largest in the U.S. Located in St. Louis, the facility will be part of a new all-digital aerospace design and manufacturing system. The technical and programmatic details of F/A-XX remain classified under U.S. national security and export laws.

Read more at Mobility Engineering

Musk Welcomes German Backing For Tesla Driver Assistance Tech As Group Chases EU Approval

Tesla CEO Elon Musk on Wednesday welcomed Germany's backing for the US automaker's driver-assistance software ‌system, as he seeks Europe-wide approval for the technology that traffic-safety researchers have warned carries inflated safety claims. As part of its discussions with Tesla, Germany agreed with the company ​that the system may slightly exceed the maximum speed limit by up to 10% – an approach Germany will also support within the European approval ‌process, ⁠where speeding has become one of the main points of contention.

A Reuters report ​published Wednesday detailed how Tesla has mounted a pressure campaign to win FSD approval in the EU ⁠by casting safety regulators as feckless bureaucrats blocking its life-saving technology. Tesla has pushed regulators directly to reduce the rigour of ​safety reviews, submitted its own research making bold crash-reduction claims, and used social media to mobilize Tesla enthusiasts to demand speedy ​approvals.

Read more at Reuters  

BD Strikes $19B Supply Chain Pact With Trump Administration

BD said Tuesday it has struck a partnership with the Trump administration to expand domestic manufacturing and strengthen the supply chain for medical consumables. BD, a maker of syringes, needles, infusion pumps and other medical products, said it will invest a total of $19 billion in the U.S. over several years. The pact includes investments in U.S. manufacturing, innovation and end-to-end production capabilities, the company said. The agreement provides relief from any future tariffs on BD products under Section 232, subject to BD achieving undisclosed milestones.

Under the agreement, the company said it will spend $3 billion to expand strategic production sites across the country and increase its annual U.S. output by about 5 billion essential medical consumables. The expansion is expected to boost BD’s share of domestically supplied essential medical technology to about 80%. BD’s U.S. manufacturing network includes sites in Columbus and Broken Bow, Nebraska; Canaan, Connecticut; Añasco, Puerto Rico; Sandy, Utah; El Paso, Texas; Covington, Georgia; and Sumter, South Carolina.

Read more at Manufacturing Dive

What Recent PLC Attacks Reveal About The State Of OT Cybersecurity

The recent series of attacks on the internet-connected programmable logic controllers within U.S. critical infrastructure garnered extensive media coverage. The headlines revolved around the reported connection to threat actors aligned with Iran and the national security implications. If these incidents reveal anything about the current state of OT cybersecurity, it’s that the industry is operating in a transitional period. Awareness is significantly higher than it was 10 years ago. Most operators understand that cybersecurity is important. The challenge is execution.

The difference between IT security and OT security is huge. A great IT/enterprise security specialist might be aware of how to manage authentication, cloud and enterprise networks. But he or she may not understand anything about:

  • Protection of the control logic
  • Operational safety
  • Industrial communications
  • Engineering workflows
  • Maintenance
  • Availability

It can be very hard to implement a cybersecurity recommendation without this knowledge. This expertise gap is especially problematic for small municipalities and utilities.

Read more at SmartIndustry

Home Heating Oil Prices Are Soaring — And Users’ Winter Bills Could Rise 21%, Federal Outlook Shows

Home heating oil prices are expected to average $5.26 a gallon during the winter heating season, up 34% from last winter, according to details in the U.S. Energy Information Administration’s annual Winter Fuels Outlook released Tuesday. But the agency also predicts a warmer winter, which may reduce consumption. Given that combination, the average household using heating oil is projected to spend $2,115 from November through March, about 21% more than last year.

The increase comes amid an unusually tight global market for distillate fuels, a category that includes heating oil and diesel, which generally are the same product, Lipow said. Refinery disruptions in Russia and the Middle East, along with reduced fuel exports from China, have constrained global supplies of distillate fuels and put upward pressure on prices — which some analysts expect to remain elevated through 2027.

Read more at CNBC

Daily Market Update October 2, 2026

The November ’26 natural gas contract is trading down $0.02 at $2.96. The November ‘26 crude oil contract is down $3.47 at $89.47. 

Read more at NRG

Learn more about the Council of Industry Energy Buying Group

Quote of the Day

“Yes, life was hard and full of danger. Let it bring whatever it wants, he would learn somehow to bear all of it.”

Felix Salten - Austrian-Hungarian Writer from his Novel 'Bambi: A Life in the Woods.'  He died on this day in 1945.

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