Economic Perspectives
Unemployment Not Only Falling, but also Narrowing
across the FHLBNY District
Authored by Brian Jones, FHLBNY Financial Economist
Highlights
November 30, 2018
National Joblessness at a 49-Year Low; All But Seven States Operating at or Through Full Employment
Labor Markets in New York Tightest in FHLBNY District; Dispersion Across Counties Narrowest Ever
Unemployment Has Fallen Sharply Across New Jersey Counties, But Distribution Remains Wide
Range of Unemployment Rates Across Puerto Rican Municipalities Widest in FHLBNY Coverage Area
With Unemployment Expected to Move Lower, Prospective Wage Gains Should Be Widely Disbursed
While the 2.3% annualized growth rate of real GDP over the course of the current business cycle upturn has been barely half that of prior post-World War II expansions, the reduction in unemployment since the economy troughed in June 2009 has been truly impressive…
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