An overview of New England's economic performance in 2008
Like most of the nation, New England suffered economically in 2008. Job losses, rising unemployment, and slumping real estate markets were all factors in one of the worst years for the region?s economy. Nevertheless, while the recession certainly took its toll, it did not affect New England as much as it did the nation as a whole.
The economic performance of the New England states in 2001: an overview
The year 2001 marked the end of a ten-year economic expansion for the nation and New England. Both the recession that began in the first quarter of 2001 and the terrorist attacks of September 11 weakened the region's labor market, which had built strength in the 1990s and through 2000. Employment in nearly all of the region's states and major industries declined in 2001, while unemployment became more widespread. Furthermore, the value of exports dropped across most major industries and destinations. The region's residential real estate market remained robust, however, as prices increased ...
Comments on 2000 benchmark revisions to regional employment data
An overview of New England's economic performance in 2007
New England?s economy showed bright signs of growth in 2007, but residential real estate cast a shadow. Job growth was moderate and on par with that of the nation, but the region fared better with an unemployment rate lower than the national average. Exports from the region rose in value, but at a lesser pace than seen in the nation. Although the region remained the richest in per capita income, growth in total personal income in New England was slower than in the nation. Declining home prices, a significant reduction in housing permits, and spikes in foreclosures rounded out a generally ...
The economic performance of the New England states in 2003: an overview
Burdened by the poor performances of the labor markets in Connecticut and Massachusetts, the New England region lost jobs for the third year in a row. The region lost jobs in nearly all major industries and added jobs in only two: leisure & hospitality and education & health services. Even with an unemployment rate that rose, New England had a lower rate of joblessness than most other Census divisions and the nation overall. Demand for residential real estate remained strong, as home prices soared at above-average rates. Consumer price inflation persisted at a higher rate in the region than ...
The economic performance of the New England States in 2002: an overview
Following a weak performance in 2001, New England's economy continued to struggle throughout 2002. The region faced faltering employment levels, rising unemployment, and escalating consumer prices. Economic uncertainty was reflected in dwindling consumer confidence. Despite a rather gloomy labor market, New England's residential real estate and export markets flourished.
The economic performance of the New England states in 2004: an overview
The year 2004 marked the beginning of New England?s economic turnaround. After three consecutive years of job losses ? not to mention 86 years of World Series famine ? the region emerged victorious. All six New England states added jobs over the course of the year and experienced reductions in unemployment. Job growth in the region, however, was sluggish compared with the nation overall. Recovery was also reflected in strong exports growth, increases in the economic activity index, and improved consumer confidence. Although consumer price inflation in New England was milder than in recent ...
In the shadows of the national recovery: an overview of New England's economic performance in 2005
Annual review of the economic performance of the New England states.
An overview of New England economic performance in 2006 : growing but slowing
The region?s 2006 economic performance was mixed. Although much of New England?s growth was slower than the nation?s, all six states added jobs, and the unemployment rate remained steady.
Comments on changes to regional employment data: benchmark revisions and NAICS conversion
This article discusses the impact of two major revisions to Bureau of Labor Statistics (BLS) employment data made during 2003. The first change, the annual benchmark revisions, anchored data to the 2002 benchmark. These revisions show that job losses in New England over the past two years were more severe than previously reported. Meanwhile, for the first time since the implementation of the Standard Industrial Classification (SIC) system in 1939, all existing industry classifications were redefined as BLS introduced the North American Industry Classification System (NAICS) to a range of ...