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29 posts on "New Jersey"
February 6, 2019

Where Are Manufacturing Jobs Coming Back?

As we outlined in our previous post, the United States lost close to six million manufacturing jobs between 2000 and 2010 but since then has gained back almost one million. In this post, we take a closer look at the geographic dimension of this modest rebound in manufacturing jobs. While job losses during the 2000s were fairly widespread across the country, manufacturing employment gains since then have been concentrated in particular parts of the country. Indeed, these gains were especially large in “auto alley”—a narrow motor vehicle production corridor stretching from Michigan south to Alabama—while much of the Northeast continued to shed manufacturing jobs. Closer to home, many of the metropolitan areas in the New York-Northern New Jersey region have been left out of this rebound and are continuing to shed manufacturing jobs, though Albany has bucked this trend with one of the strongest performances in the country.

November 19, 2018

“Skin in the Game,” Depositor Discipline, and Bank Risk Taking

In a previous post, we argued that double liability for bank owners might not limit their risk taking, despite the extra “skin in the game,” if it also weakens depositor discipline of banks. This post, drawing on our recent working paper, looks at the interplay of those opposing forces in the late 1920s when bank liability differed across states. We find that double liability may have reduced the outflow of deposits during the crisis, but wasn’t successful in mitigating bank risk during the boom.

February 13, 2018

Just Released: Great Recession’s Impact Lingers in Hardest-Hit Regions

The New York Fed’s Center for Microeconomic Data today released our Quarterly Report on Household Debt and Credit for the fourth quarter of 2017. Along with this report, we have posted an update of state-level data on balances and delinquencies for 2017. Overall aggregate debt balances increased again, with growth in all types of balances except for home equity lines of credit. In our post on the first quarter of 2017 we reported that overall balances had surpassed their peak set in the third quarter of 2008—the result of a slow but steady climb from several years of sharp deleveraging during the Great Recession.

June 16, 2017

Just Released: June Regional Business Surveys Paint a Mixed Picture

Yesterday’s June Empire State Manufacturing Survey pointed to a significant increase in regional manufacturing activity. However, our parallel survey for the region’s service sector, the June Business Leaders Survey, released today, paints a somewhat dreary picture of regional service-sector activity. These two surveys, taken together, suggest that economic conditions in the New York-Northern New Jersey region are mixed.

August 26, 2015

Just Released: An Update on Regional Economic Conditions Provided at Our Economic Press Briefing

Jaison R. Abel, Jason Bram, Richard Deitz, and James Orr Today’s Economic Press Briefing at the New York Fed presented our economic outlook for New York, Northern New Jersey, and Puerto Rico. We showed that many parts of the region have bounced back quite well from the Great Recession and are growing at a solid […]

January 16, 2015

Just Released: January Business Leaders Survey Indicates Regional Business Conditions Are Finally Back to Normal

The New York Fed’s January Business Leaders Survey indicates that the regional economy kicked off the New Year on a positive note.

July 18, 2014

Historical Echoes: The Worst Bank Robbers in Mendham, New Jersey

There are many methods by which financial institutions can ready themselves for worst-case scenarios: they acquire FDIC insurance, they follow a variety of banking regulations, and they prepare for natural disasters, for starters.

September 25, 2013

Catching Up or Falling Behind? New Jersey Schools in the Aftermath of the Great Recession

Rajashri Chakrabarti and Max Livingston Today’s post, which complements Monday’s on New York State and a set of interactive graphics released by the New York Fed earlier, assesses the effect of the Great Recession on educational finances in New Jersey. The Great Recession severely restricted state and local funds, which are the main sources of […]

August 7, 2013

Could Superstorm Sandy Stimulate the Region’s Economy?

The New York metro region’s recovery from Superstorm Sandy is well under way.

February 6, 2013

How Did Education Financing in New Jersey’s Abbott Districts Fare during the Great Recession?

In the state of New Jersey, any child between the ages of five and eighteen has the constitutional right to a thorough and efficient education.

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