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Economic Perspectives

Employment Conditions: As Goes the Nation, So Goes the FHLBNY District

Authored by Brian Jones, FHLBNY Financial Economist


May 2018

  • Hiring Slowed Across the FHLBNY District in March
  • Job Creation Ground to a Near Halt in the Empire State
  • Headcount Additions Remained Solid in the Garden State
  • Puerto Rico and the Virgin Islands Posted Modest Job Gains
  • Most of the FHLBNY Coverage Area is Operating at Full Employment
  • Wage Gains in the District Have Lagged National Average

The pace of job creation slowed markedly across the country in March. Capped by a return to more seasonable temperatures during the reference period, nonfarm employers added a comparatively modest 103,000 persons to headcounts, after the eye-catching 326,000 surge posted in February…

Disclaimer. The Federal Home Loan Bank of New York (“FHLBNY”) is providing this report for informational purposes only. This report should not be construed as an opinion, recommendation, or solicitation regarding the use of any financial strategy and/or the purchase or sale of any financial instrument. The recipients of this report are advised to conduct their own independent due diligence and consult with financial advisors, accountants, and attorneys before making any investment, credit, or any other financial decisions. FHLBNY does not warrant the completeness or accuracy of this report. The past performance of any FHLBNY service or product should not be viewed as a guarantee of future results. The information contained in this report, as well as the services and products provided by the FHLBNY, may change at any time without notice.

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