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Journal Article
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 ...
Journal Article
Like father, like son: have we changed our penny-pinching ways?
Our Yankee ancestors were known for their hard work, individualism, and aversion to excessive displays of wealth. Although much has changed since then, New England still shows remnants of its Puritan past.
Journal Article
Six-state review
New England states are facing their worst fiscal crises in at least a decade. General revenues, especially those from the personal income tax, fell sharply in every New England state except New Hampshire in FY2002. All six states closed the fiscal year with deficits. Although preliminary reports suggest that FY2003 revenue collections in some states may be up from last year, deficits are still expected throughout the region. In response, all six states are cutting expenditures, drawing down reserve accounts, and/or raising taxes and fees.
Journal Article
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 ...
Journal Article
An overview of New England's economic performance in 2009
Like most of the nation, New England continued to suffer economically in 2009. Job losses, rising unemployment, declining personal income, and slumping real estate markets all contributed to one of the worst years for both the national and regional economies. However, while economic conditions were among the worst New England has seen, the region's overall economic performance was better than that of the nation as a whole.
Journal Article
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.
Journal Article
The downturn in the New England economy: what lies behind it?
After a long period of vigorous growth--a period in which New England grew faster than the rest of the United States--employment in New England leveled off in 1989. This slowdown represents both a cyclical adjustment and a disturbing erosion in New Englands competitive position. ; To help clarify the causes of the downturn and the implications for the regions future development, this article develops a framework for analyzing regional economies, applies that framework to New England and other regions of interest, and examines New Englands share of national markets in key industries. The ...
Journal Article
Growing... but slowing? : an overview of New England's economic performance in 2006
New England?s economic performance was somewhat mixed during 2006. On one hand, all six states added jobs over the course of the year, and the region?s unemployment rate remained steady. The region as a whole picked up jobs in nearly all major industries. Export values and income and wages also increased. One the other hand, much of the economic growth experienced by the region was slower than that seen in the nation as a whole. Although the unemployment rate did not go up for the region, the nation saw joblessness decrease. Moreover, real estate markets, though weak nationwide, were even ...
Journal Article
New England rural development conference
A recap of the June 15, 1998 conference sponsored by the Federal Reserve Bank of Boston, Rural LISC, and others, to better understand the economic development challenges facing rural New England.
Journal Article
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.