137 posts on "Regional Analysis"
March 1, 2017
Just Released: The Regional Economy Is off to a Good Start in 2017
The New York Fed’s latest Beige Book report, released this afternoon, shows the regional economy gathering steam in early 2017. The report, based on information collected through February 17, suggests the regional economy, which had been essentially flat for the second half of 2016, saw growth pick up to a modest pace at the start of the year. Manufacturers, in particular, note a sharp rise in activity, as do businesses in wholesale distribution and transportation. Consequently, the market for industrial and warehouse space was pretty robust in the opening weeks of 2017. Meanwhile, businesses in most service industries continue to report steady to moderately expanding activity. And even though consumer spending has remained fairly subdued, consumer confidence climbed to highs not seen in more than a decade. All in all, it appears the regional economy has gotten off to a good start in 2017.
Posted at 2:15 pm in Regional Analysis | Permalink
December 16, 2016
Just Released: Regional Business Surveys Point to Growth in Economic Activity
The latest editions of the New York Fed’s two regional business surveys point to improvement in business conditions and widespread optimism about the near-term outlook. The December Business Leaders Survey of regional service firms, released today, shows service sector activity steadying after declining for a number of months, and the December Empire State Manufacturing Survey, released yesterday, indicates that manufacturing activity increased for the first time since the summer.
October 19, 2016
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.
October 17, 2016
What Caused the Decline in Interstate Migration in the United States?
Geographic mobility is thought to be important both for economic mobility and for the efficiency of a labor market in allocating the right people to the right jobs. Accordingly, the willingness of the U.S. workforce to move is a factor behind the greater dynamism of the U.S. labor market compared to Europe. While Europeans tend to be more reluctant to move to distant places within their respective countries, the idea of moving across state borders for a job has been woven into the fabric of the American Dream. However, the image of the United States as a mobile nation has changed substantially over recent decades. This post investigates the role that demographic shifts—in particular, the nation’s aging population—have played in the recent decline in interstate migration.
August 18, 2016
Just Released: Job Growth in the Region
At today’s economic press briefing, we provided an update on regional economic conditions, with a particular focus on job growth in the region, and highlighted an important emerging labor market trend: the return of middle-wage jobs.
August 16, 2016
Just Released: Firms Assess the Effects of the Affordable Care Act
This morning, the Federal Reserve Bank of New York released the results of its August 2016 business surveys, including the supplemental survey report on health coverage costs and the effects of the Affordable Care Act (ACA) on firms in the region. Health care costs increased 8.5 percent this year and are expected to rise by 10 percent in 2017, based on the median responses of surveyed businesses. Among the more widely mentioned factors that firms said were contributing to higher costs were increased premiums from insurance providers, higher costs for prescription drugs, the ACA, and an aging workforce.
Posted at 8:35 am in Regional Analysis | Permalink
August 12, 2016
Puerto Rico’s Evolving Household Debts
Debt and its performance play a critical role in economic development. The enormous increase in mortgage debt that took place during the run-up to the 2007 financial crisis and the contribution of that debt to the crisis underscore the importance of household debt to financial stability and economic growth.
August 11, 2016
Human Capital and Education in Puerto Rico
An important element of human capital is educational attainment. A series of recent papers highlights the importance of the quality of education—which determines the skills actually learned, rather than the number of years spent in a classroom—as a main driver of growth.
Posted at 7:00 am in Education, Human Capital, Puerto Rico, Regional Analysis | Permalink | Comments (3)
August 10, 2016
Puerto Rico’s Shrinking Labor Force Participation
A key concern about Puerto Rico’s prospects is that its labor force participation rate, which is the percentage of the adult population either working or looking for work, has fallen sharply.
August 9, 2016
Just Released: Recent Developments in Consumer Credit Card Borrowing
The Federal Reserve Bank of New York’s Center for Microeconomic Data today released its Quarterly Report on Household Debt and Credit for the second quarter of 2016.
Posted at 11:05 am in Credit, Household Finance, Inflation, Puerto Rico, Regional Analysis | Permalink
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