The Welfare Costs of Superstorm Sandy
As most of the New York metropolitan region begins to get back to normal following the devastation caused by superstorm Sandy, researchers and analysts are trying to assess the total “economic cost” of the storm.
Just Released: August Indexes of Coincident Economic Indicators Show Uneven Growth across the Region
The August Indexes of Coincident Economic Indicators (CEIs) for New York State, New York City, and New Jersey, released today, give a mixed picture of current economic performance across the region.
Just Released: January’s Indexes of Coincident Economic Indicators Show Fairly Robust Activity across the Region
The January Indexes of Coincident Economic Indicators for New York State, New York City, and New Jersey, released today, show fairly robust economic growth entering 2012.
Tough Decisions, Depleted Revenues: New Jersey’s Education Finances during the Great Recession
Today’s post, which complements Monday’s on New York State, considers the Great Recession’s impact on education funding in New Jersey.
Just Released: July’s Indexes of Coincident Economic Indicators Show Economic Activity Picking Up across the Region
The July Indexes of Coincident Economic Indicators (CEIs) for New York State, New York City, and New Jersey, released today, reveal that economic activity continued to expand in both New York State and New York City and—for the second month in a row—picked up moderately in New Jersey.
The Great Recession and Recovery in the Tri‑State Region
In 2008, as the financial crisis unfolded and the U.S. economy tumbled into a sharp recession, the outlook for the tri-state region (New York, New Jersey, and Connecticut) and especially New York City—the heart of the nation’s financial industry—looked grim. Regional economists feared an economic downturn as harsh as the one in 2001, or the even deeper recession of the early 1990s. Now, as the recovery takes hold, we can report that although the economic downturn was severe in the region, with the unemployment rate surging above 9 percent in many places, it was less severe than many had anticipated. This post—which is based on the New York Fed’s May 6 Regional Economic Press Briefing—recaps how the Great Recession affected employment across the region, how the ensuing recovery has progressed, and what the prospects are for job growth as we go forward.
Just Released: Household Debt and Credit Developments in the Nation and the Region in 2011:Q1
This post gives our summary of the 2011:Q1 Quarterly Report on Household Debt and Credit, released today by the New York Fed. The report shows signs of healing in household balance sheets in the United States and the region, as measured by consumer debt levels, delinquency rates, foreclosure starts, and bankruptcies— although the regional data are somewhat mixed. The report captures the debt and credit activity of an anonymous, nationally representative panel of U.S. households.