The first quarter personal income data reflected the initial impact of the pandemic. Two travel and tourism-heavy states, Hawaii and Nevada, were quite weak, with annual growth rates of -0.1 percent (Hawaii) and 1.0 percent (Nevada). [...]
Introducing
Charles Steindel
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Charles Steindel has been editor of Business Economics, the journal of the National Association for Business Economics, since 2016. From 2014 to 2021 he was Resident Scholar at the Anisfield School of Business, Ramapo College of New Jersey. From 2010 to 2014 he was the first Chief Economist of the New Jersey Department of the Treasury, with responsibilities for economic and revenue projections and analysis of state economic policy. He came to the Treasury after a long career at the Federal Reserve Bank of New York, where he played a major role in forecasting and policy advice and rose to the rank of Senior Vice-President. He has served in leadership positions in a number of professional organizations. In 2011 he received the William F. Butler Award from the New York Association for Business Economics, is a fellow of NABE and of the Money Marketeers of New York University, and has received several awards for articles published in Business Economics. In 2017 he delivered Ramapo College's Sebastian J. Raciti Memorial Lecture. He is a member of the panel for the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters and of the Committee on Research in Income and Wealth. He has published papers in a range of areas, and is the author of Economic Indicators for Professionals: Putting the Statistics into Perspective. He received his bachelor's degree from Emory University, his Ph.D. from the Massachusetts Institute of Technology, and is a National Association for Business Economics Certified Business EconomistTM.
Publications by Charles Steindel
Global| Jun 23 2020State Personal Income in Q1 2020
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- Global| Jun 19 2020
State Labor Markets in May
May's improvement in the labor market varied across the nation. While 38 states (including D.C.) experienced statistically significant declines in their unemployment rates (led by an astonishing 5.7 percentage point plunge in [...]
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- Global| May 27 2020
State Coincident Indexes in April
The April results for the Federal Reserve Bank of Philadelphia's state coincident indexes were as horrid as one would expect. Only 4 states (Arizona, Georgia, Texas, and Nebraska) had one-month declines smaller than 10 percent [...]
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- Global| May 22 2020
State Labor Markets in April
The debacle was complete. All 50 states (and DC) experienced statistically significant declines in payroll employment and statistically significant increases in their unemployment rate in April. 43 states saw new record highs in [...]
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- Global| Apr 22 2020
State Coincident Indexes in March
The Philadelphia Federal Reserve Bank has issued estimates of state coincident indexes for March, and the results are truly ugly. The Bank's release shows a map illustrating three-month changes, and it is largely a frightening field [...]
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- Global| Apr 17 2020
State Labor Markets in March
The March state data provide first firm data on the regional impact of the pandemic. 31 states saw statistically significant drops in their job counts; Tennessee—a state that was quite late to impost shut-downs—was the only state to [...]
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- Global| Apr 10 2020
State Coincident Indexes in February
The Philadelphia Federal Reserve Bank has issued estimates of state coincident indexes for February. This is essentially the last comprehensive snapshot of the distribution of activity prior to the impact of the pandemic. A look at [...]
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- Global| Apr 02 2020
State Coincident Indexes in January
The Philadelphia Federal Reserve Bank has issued estimates of state coincident indexes for January. These indexes now take into account the annual labor market benchmark revisions. Additionally, movements in proprietors’ income are [...]
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- Global| Mar 27 2020
State Labor Markets in February
State labor markets were generally sound in February, prior to the onset of the pandemic. Texas led the way, with a 50,400 (.4%) rise in payrolls—tops in the absolute gain and trailing only Alaska in percentage change. Michigan and [...]
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- Global| Mar 25 2020
State Personal Income
BEA has released the first estimates of state personal income for the fourth quarter of 2019 and for 2019 as a whole. Right now interest in these figures may be mostly antiquarian. For 2019 as a whole, the fastest-growing states were [...]
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- Global| Mar 16 2020
State Labor Markets in January
In what now seems like ancient times, state labor market data was strong in January. Twelve states had statistically significant increases in payrolls over the month, led by a 35,700 gain in Florida and 33,500 in New York. Some other [...]
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- Global| Jan 29 2020
State Coincident Indexes
The Philadelphia Federal Reserve Bank's estimates of state coincident activity for December indicate increased divergence in activity across the nation. Over the last 12 months, 27 states report increases in their indexes in the 2 to [...]
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