Crisis Chronicles–The California Gold Rush and the Gold Standard
On the crisp morning of January 24, 1848, James Marshall, a carpenter in the employ of John Sutter, traveled up the American River to inspect a lumber mill that Sutter had ordered constructed close to timber sources.
Just Released: April Empire State Manufacturing Survey Indicates Sluggish Conditions
The April 2015 Empire State Manufacturing Survey, released today, points to continued weakness in New York’s manufacturing sector. The survey’s headline general business conditions index turned slightly negative for the first time since December, falling 8 points to -1.2 in a sign that the growth in manufacturing had paused. The new orders index—a bellwether of demand for manufactured goods—was also negative, pointing to a modest decline in orders for a second consecutive month. Employment growth slowed, too. The Empire Survey has been signaling sluggish growth since October of last year after fairly strong readings from May through September.
Just Released: Benchmark Revisions Paint a Brighter Picture of (Most of) the Regional Economy
Every March, the Bureau of Labor Statistics releases benchmark revisions of state and local payroll employment for the past year.
Fairfield County Weathers Job Losses in Finance
Fairfield County, comprising the southwestern corner of Connecticut, is sometimes thought of as an affluent “bedroom community” outside New York City—a place filled with commuters taking home large paychecks.
A Long Road to Economic Recovery for the U.S. Virgin Islands
The U.S. Virgin Islands are a small and unique component of the Second Federal Reserve District.
Just Released: February Report Points to Moderate Regional Economic Growth
The February Indexes of Coincident Economic Indicators (CEIs) for New York State, New York City, and New Jersey released today show activity expanding at a moderate pace across the region.
The Different Paths of Greece and Spain to High Unemployment
Euro area GDP remains below its 2007 level due to the global financial meltdown
and the subsequent sovereign debt crisis in the periphery countries.
Rebalancing the Economy in Response to Fiscal Consolidation
According to the Congressional Budget Office (CBO), under current policies the ratio of federal debt held by the public over gross domestic product—the debt-to-GDP ratio—will rise rapidly over the next decade.
Is Wall Street the Only Street in New York City?
Has Wall Street—the term for the securities industry that symbolizes New York City’s role as a global financial center—become less of a specialty for the city?
Historical Echoes: How the BLS Measured Up
The measurement of employment and unemployment in the United States has a long history–longer, in fact, than that of other measures of economic activity.