State labor market data in August was broadly comparable to July, with widespread drops in unemployment and increases in jobs. 41 states report statistically significant declines in their unemployment rate, led by Massachusetts' 4.9 [...]
Introducing
Charles Steindel
in:Our Authors
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| Sep 18 2020State Labor Markets in August
- Global| Aug 26 2020
State Coincident Indexes in July
The Federal Reserve Bank of Philadelphia's state coincident indexes were generally strong in July. 45 states report gains since April (the map on the site, which charts the range of 3-month gains, is now a sea of blue. A few months [...]
- Global| Aug 21 2020
State Labor Markets in July
State labor markets generally showed further substantive improvement in July. Most saw statistically significant drops in their unemployment rate, led by Michigan's spectacular 6.2 percentage-point plunge. Idaho, Nebraska, and Utah [...]
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- Global| Jul 23 2020
State Coincident Indexes in June
The Federal Reserve Bank of Philadelphia's state coincident indexes show considerable disparity. Two states (Utah and Arkansas) actually saw increases from March to June. On the other side, the figures for Hawaii and Massachusetts [...]
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- Global| Jul 17 2020
State Labor Markets in June
There was some convergence in unemployment across the nation in June, a month in which 42 states saw significant declines in their unemployment rates, while 5 saw increases. Only 10 states had unemployment rates above 10 percent, with [...]
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- Global| Jul 07 2020
State GDP in 2020:Q1
All states (as well as DC) saw real GDP decline in the first quarter. The rate of decline was heavily influenced by how rapidly the state responded to the onset of the pandemic, as well as its specific industry mix. New York and [...]
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- Global| Jun 26 2020
State Coincident Indexes in May
The Federal Reserve Bank of Philadelphia's state coincident index map is again completely red- all 50 states saw drops of least 1 percent from February to May. The smallest drop in this period was Arizona's 4.9 percent; Hawaii plunged [...]
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- Global| Jun 23 2020
State Personal Income in Q1 2020
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). [...]
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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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