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Journal Article
Are we in a recession? The 'anxious index nowcast' knows!
When the economy is in the midst of a recession, even a severe one, it can be quite difficult at first to tell. For example, as the Great Recession took hold in late 2007 and early 2008, uncertainty lingered as to whether the economy had merely slowed or was already contracting. Unfortunately for policymakers, investors, and consumers ? all of whom might have been able to use such information to make better decisions regarding consumption, investment, and saving ? the recession was not officially called until December 2008. Similarly, the four prior recessions were anywhere from five to nine ...
Journal Article
Regional Spotlight: Evaluating Metro Unemployment Rates Throughout the Business Cycle
Over 80 percent of the world?s recreational vehicle (RV) production occurs in or near Elkhart, IN, so it?s no wonder that, for decades, Elkhart has been known as the RV capital of the world. Thanks in part to RVs, Elkhart?s unemployment rate was comfortably below the national rate in 2007?but then RV sales plummeted two years in a row, a signal that American consumers could no longer afford high-ticket luxury goods.2 By the depths of the Great Recession in mid-2009, nearly one-fifth of Elkhart?s labor force was unemployed. However, Elkhart?s labor market quickly recovered, with unemployment ...
Journal Article
Regional Spotlight: Purchasing Power Across the U.S.
Where you live can determine how far a dollar goes. But pay varies regionally, too. To get a true picture of an area?s affordability, it helps to understand regional price parities.
Journal Article
Regional Spotlight: Purchasing Power Across the U.S.
Where you live can determine how far a dollar goes. But pay varies regionally, too. To get a true picture of an area?s affordability, it helps to understand regional price parities.
Journal Article
Third District State Budgets in the Coronavirus Recession
Delaware, New Jersey, and Pennsylvania are in for a struggle as they try to balance their budgets during this unprecedented economic cycle.
Journal Article
Exploring the Economic Effects of the Opioid Epidemic
Hundreds of thousands of Americans have died from opioid overdoses in recent years. What has this epidemic done to the economy? And why is the crisis so much worse right here in the Third District?
Journal Article
Regional Spotlight: Evaluating Metro Unemployment Rates Throughout the Business Cycle
Not all unemployment is the same, especially when comparing RVs with MDs.
Briefing
Is Urban Cool Cooling New Jersey’s Job Market?
Since 2000, employment in New Jersey has slowed considerably compared with its relatively steady growth in the late 1980s through the 1990s. As of the second quarter of 2015, New Jersey?s total payroll employment was less than 1 percent greater than it was in the first quarter of 2000.