Economic Perspectives

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

Authored by Brian Jones, FHLBNY Financial Economist


Highlights

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…

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