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Baby-boom retirements and emerging labor market pressures
As the baby-boom generation begins to retire, employers in upstate New York will be confronted with the dual pressures of replacing these workers and filling new jobs created in growing segments of the economy. An analysis of projected hiring rates in the region suggests that although there will be demand for workers in all occupations, employers may face a particular challenge filling positions in growing services occupations with relatively high retirement rates, such as health care, community and social services, and education.
The changing composition of upstate New York's workforce
We use newly available data from the 2000 census to assess the occupational composition of the upstate New York workforce and to analyze how it has changed since the 1990 census. We also compare the evolving mix of occupations in our region with that of the nation as a whole, an approach that allows us to identify upstate New York's areas of specialization and some unique features of the changes in the region's labor market.
Challenges facing the New York metropolitan area economy
The skilled and well-educated workforce of the New York metropolitan area has played a large role in enabling the region to withstand adverse economic shocks and adapt successfully to a services economy. A further expansion of this "human capital" will enable the metro area to meet the challenges ahead: attracting new firms, maintaining immigration flows, and competing successfully with fast-growing metro areas in other parts of the country.
Economic restructuring in New York State
When economic activity slows down, labor markets may undergo extensive structural change-the permanent reallocation of workers across industries. Job losses can be heavy, and creating new jobs and retraining displaced workers to fill them can take time. A high degree of restructuring may help to explain why New York State's most recent downturn persisted for well over two years. Subseries: Second District Highlights.