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14 posts on "New York City"

August 24, 2011

Just Released: July’s Indexes of Coincident Economic Indicators Show Economic Activity Picking Up across the Region

James Orr

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.

Continue reading "Just Released: July’s Indexes of Coincident Economic Indicators Show Economic Activity Picking Up across the Region" »

Posted by Blog Author at 7:00 AM in New Jersey, New York City, Regional Analysis | Permalink | Comments (0)

May 09, 2011

The Great Recession and Recovery in the Tri-State Region

Jason Bram and James Orr

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.

Continue reading "The Great Recession and Recovery in the Tri-State Region" »

May 06, 2011

Historical Echoes: New York City’s Economy – That Was Now, This Is Then

New York Fed Research Library

Discussions of New York City’s economy that focus on declining employment, a shrinking securities industry, and a reduction in municipal jobs might suggest the present. These concerns, however, are not new. In the 1970s, New York City faced many of the same problems it does now in the aftermath of the Great Recession. Back then, some observers doubted that the city could ever recover its former glory.

Continue reading "Historical Echoes: New York City’s Economy – That Was Now, This Is Then" »

Posted by Blog Author at 10:00 AM in Employment, Historical Echoes, New York City | Permalink

May 02, 2011

New York City’s Economic Recovery—Main Street Gets the Jump on Wall Street

Jason Bram and James Orr

After bottoming out in late 2009, New York City’s economy has been on the road to recovery. In this post, we call attention to an unprecedented feature of the current economic recovery: overall employment in the city began to rebound from the recession well before Wall Street started adding jobs. We also consider some questions that this development naturally raises: What took Wall Street employment so long to recover? What’s been driving job generation on Main Street? What does the recent pickup in Wall Street employment suggest about the outlook for the city’s economy?

Continue reading "New York City’s Economic Recovery—Main Street Gets the Jump on Wall Street" »

Posted by Blog Author at 10:00 AM in Employment, Financial Markets, New York City, Wages | Permalink | Comments (0)
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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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