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Journal Article
Unemployment rates in tri-state metropolitan areas
The national unemployment rate is a closely watched monthly economic statistic. It provides a measure of the health of the labor market and is one of many statistical gauges of economic conditions. The U.S. Bureau of Labor Statistics calculates the national unemployment rate as well as unemployment rates for the 50 states and many sub-state areas. This Research Rap Special Report looks at unemployment rates at one of these sub-state levels ? the metropolitan area ? in the three states in the Third Federal Reserve District: Delaware, New Jersey, and Pennsylvania. Metropolitan area unemployment ...
Journal Article
First quarters in the national income and product accounts
Prompted by their expectations of an initial estimate of a marked slowdown in U.S. real gross domestic product growth in the first quarter of 2015, commentators and analysts have drawn attention to an apparent ?first-quarter effect? in the U.S. national income and product accounts
Journal Article
State tax revenue in the Third District
Journal Article
Oil prices in the Third District states
Journal Article
Inflation targeting and revisions to inflation data: a case study with PCE inflation
Central banks around the world have come to recognize the importance of maintaining low and stable inflation. One widely employed tool for helping to do so is known as inflation targeting, whereby a central bank sets a numeric goal for inflation. Once this target is publicly stated, the bank can be held accountable for its actions in regard to meeting, or not meeting, this target. Countries that have adopted such a tool have generally had a favorable experience, and there is evidence that inflation targeting is correlated with increased stability in output growth, lower inflation, and more ...
Journal Article
The effectiveness of the state coincident indexes
The Federal Reserve Bank of Philadelphia has produced state coincident indexes since 2005. These indexes are monthly indicators of economic activity for each of the 50 U.S. states, based on a composite of four widely available data series on state conditions: total nonfarm payroll employment, the unemployment rate, average hours worked in manufacturing, and real wages and salary disbursements.
Journal Article
Industry concentration in tri-state metropolitan areas
Journal Article
Has job quality been \\"job one\\" in the economic recovery?
The Great Recession of 2007-09 has been followed by a Not-So-Great Recovery. The U.S. economy lost more than 8.7 million jobs, representing 6.3 percent of total U.S. payroll employment, on net, during the Great Recession. But while the recovery from this very deep recession began in June 2009, the first net increase in payrolls did not occur until March 2010, eight months into the recovery.
Journal Article
An experimental index for the Business Outlook Survey: some preliminary findings
The Philadelphia Fed?s Business Outlook Survey (BOS) receives considerable attention because it is viewed as both a regional and a national indicator of the anufacturing sector. The value of the survey as an important indicators is due, no doubt, to its unusual longevity (conducted monthly since 1968) and to the fact that manufacturing remains quite sensitive to shifts in overall economic activity. Several studies have shown that the survey?s indexes are useful in quantitatively estimating how the manufacturing sector is doing along a variety of dimension
Journal Article
Recession dating and real-time data