Just Released: The New York Fed Staff Forecast—May 2012
We are presenting the New York Fed staff outlook for the U.S. economy to the New York Fed’s Economic Advisory Panel (EAP) at their meeting here today.
Conclusion: How Low Will the Unemployment Rate Go?
A major theme of the posts in our labor market series has been that the outflows from unemployment, either into employment or out of the labor force, have been the primary determinant of unemployment rate dynamics in long expansions.
Reconciling Contrasting Signals in the Labor Market: The Role of Participation
The contrasting movements in the employment-to-population ratio (E/P) and the unemployment rate recently have been striking and puzzling.
Historical Echoes: How the BLS Measured Up
The measurement of employment and unemployment in the United States has a long history–longer, in fact, than that of other measures of economic activity.
Skills Mismatch, Construction Workers, and the Labor Market
Recessions and recoveries typically have been times of substantial reallocation in the economy and the labor market, and the current cycle does not appear to be an exception.
The Bathtub Model of Unemployment: The Importance of Labor Market Flow Dynamics
An alternative to Okun’s law to understand unemployment dynamics is to examine the evolution of the unemployment inflow and outflow rates.
Okun’s Law and Long Expansions
Economic forecasters frequently use a simple rule of thumb called Okun’s law to link their real GDP growth forecasts to their unemployment rate forecasts.
Prospects for the U.S. Labor Market
The unemployment rate in the United States fell from 9.1 percent in the summer of 2011 to 8.3 percent in February.
The Changing Face of Foreclosures
The foreclosure crisis in America continues to grow, with more than 3 million homes foreclosed since 2008 and another 2 million in the process of foreclosure.
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.