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The Region

Learn more about the communities we serve within the Second District—including New York State, the 12 northern counties of New Jersey and Fairfield County in Connecticut.

Features

Encouraging Small Business Success in New York City and Northern New Jersey: What Firms Value Most Presents the findings of a study sponsored by the Citizens Budget Commission and the Federal Reserve Bank of New York to identify the needs of small businesses. Mon, October 15

District Profiles Provides brief social, economic, and demographic profiles of metropolitan areas within the Second District.

Second District Metro Areas Provides an overview of the Second Federal Reserve District, delineating metropolitan areas in New York State, northern New Jersey and Fairfield County, Connecticut.

Research Highlights

The Price of Land in the New York Metropolitan Area The authors rely on a unique data set to calculate and analyze the price of vacant land in the New York metro area between 1999 and mid-2006. By Andrew Haughwout, James Orr, and David Bedoll, Current Issues in Economics and Finance Second District Highlights (14) 3, April/May 2008

The Demand for Local Services and Infrastructure Created by an Aging Population Upstate New York, with a growing senior population, is seeing an increase in the number of frail and disabled elderly who rely on local services and infrastructure and are concentrated in the inner cities and older suburbs. By Richard Deitz and Ramon Garcia, Upstate New York Regional Review 2 (1), 2007

Job Growth in New York and New Jersey: Mid-2007 Review and Outlook The authors expect that job growth in the second half of 2007 will be similar in New York State and New Jersey—0.9 percent and 0.7 percent, respectively—while New York City will lead the region, growing about 1.5 percent fueled by a continued expansion of services sector jobs. By Jason Bram, James Orr, and Rae Rosen, Current Issues in Economics and Finance Second District Highlights (13) 7, August 2007

A Brain Drain or an Insufficient Brain Gain? The latest issue of Upstate New York At-a-Glance finds that the net outflow of educated workers from upstate New York reflects a low rate of in-migration to the region, rather than an unusually high rate of out-migration. By Richard Deitz, Upstate New York At-a-Glance (2), 2007

Current Economic Indicators

Empire State Manufacturing Survey The survey indicates that manufacturing activity in New York State deteriorated slightly in May. The general business conditions index fell below zero, to -3.2. May 15, 2008

Beige Book The Second District's economy has shown further signs of weakening since the last report. Manufacturers report that business activity tailed off substantially in February and early March and has been flat since. April 16, 2008

Index of Coincident Economic Indicators The March report shows moderate growth in economic activity in New Jersey, continued strong growth in New York City and a modest decline in activity in New York State. For March 2008, released April

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