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.
Lower Manhattan since 9/11: A Study in Resilience
The 9/11 terrorist attack on the World Trade Center left a deep scar on New York City and the nation, most particularly in terms of the human toll.
Just Released: Mapping the Differences in School Spending in New York City
Rajashri Chakrabarti and Michael Stewart This morning, the Federal Reserve Bank of New York released a set of interactive visuals that present data on school spending and its various components—such as instructional spending, instructional support, leadership support, and building services spending—across all thirty-two community school districts (CSD) in New York City and map their progression […]
Upstate New York Job Growth: The Bad News Is that the Good News Was Wrong
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 […]
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.
New York City’s Not‑So‑Outer Boroughs
Ever since the first census of the U.S. population was taken, back in 1790, New York City has been the nation’s largest city, and for most of this time by a factor of more than two.
At the N.Y. Fed: Conference Highlights Financing Tools for New York’s Food and Beverage Firms
With more than 35,000 farms and $5.5 billion in annual sales, the agriculture industry is an important part of the New York State economy.
Just Released: What Kinds of Jobs Have Been Created during the Recovery?
At today’s regional economic press briefing, we provided an update on economic conditions in New York, northern New Jersey, and Puerto Rico, with a special focus on the kinds of jobs that have been created in each of these places during the recovery.