Journal Article

How volatile is New York State's economy?

Abstract: We measure employment volatility in New York State. We find that although New York has demonstrated slow employment growth during the postwar period, its diverse industry composition has helped make it the most stable economy in the nation. We also examine the extent to which regional volatility is due to national, as opposed to local, economic fluctuations. This examination enables us to compare the volatility of New York's major metropolitan areas with a sampling of U.S. cities. Here, we find that New York's metro areas were relatively stable during the postwar period, but some areas have exhibited a fair degree of volatility in more recent years.

Keywords: Employment - New York (State); Economic conditions - New York (State); Federal Reserve District, 2nd;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: The Regional Economy of Upstate New York

Publication Date: 2003

Issue: Win