Third District housing market conditions
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
Wealth inequality among the Forbes 400 and U.S. households overall
While widening income inequality in the United States has garnered much public and academic attention in recent years, wealth inequality reveals an even starker picture. For instance, in 2010, the top 1 percent of income earners received 19.8 percent of total household income. In the same year, the wealthiest 1 percent held 35.4 percent of total household wealth (Kaplan 2013). Moreover, wealth inequality has increased in recent decades, with most gains concentrated among the richest 20 percent of households (Wolff 2013).
Revisions to nonfarm payroll employment: 1964 to 2011
Over recent months, the Bureau of Labor Statistics (BLS) has revised upward its initial estimates of the monthly change in nonfarm payroll employment. Similar positive revisions occurred to the initial estimates for September 2010 through February 2011. Moreover, upward revisions to initial estimates also occurred in the immediate months following the most recent NBER business-cycle trough of June 2009. This pattern of positive revisions suggests that the BLS might be having trouble pinning down initial estimates of job gains in the early stages of an expansion. It also cautions us against ...
State unemployment rate nowcasts
House price indexes: methodology and revisions
Accurate measurements of house prices are important for a number of reasons. Housing is usually the most important investment a household ever makes, and home equity is typically the largest component of household wealth. In addition, housing is an important source of collateral for household borrowing, and, as we have seen, its value can be subject to considerable fluctuation. Also, research has shown that having a mortgage that is larger than the value of the underlying house is associated with an elevated risk of default.
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 ...