The Philadelphia Federal Reserve Bank's estimates of state coincident activity show that all states have grown over the last 12 months. As was noticed for the job numbers, there are some signs of convergence in growth over that [...]
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| Sep 28 2018State Coincident Indexes
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- Global| Sep 26 2018
State Personal Income
Yesterday BEA released its estimates of personal income at the state level for 2018:Q2. The numbers reflect the benchmark GDP revision. Income growth is rather dispersed. In the second quarter Texas led the nation, with a 6.0% growth [...]
- Global| Sep 21 2018
State Labor Markets in August
As has been the case for some months, August saw fairly widespread job gains by state, though only four of the gains (California, Texas, Arizona, and Florida) were viewed as statistically significant. 10 states, and DC, reported [...]
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- Global| Aug 27 2018
State Coincident Indexes: The Sum of the Parts Greater than the Whole?
Last Wednesday the Philadelphia Federal Reserve Bank issued its estimates of state coincident activity for July. All 50 states report increases over the last 12 months; only West Virginia and Alaska showed gains under 1 percent. As [...]
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- Global| Aug 17 2018
State Labor Markets in July
July saw job gains in 42 states, though only 6 of those increases were deemed statistically significant by BLS, led by California’s 46,700 (0.3 percent) gain (Nevada had the largest percentage increase—0.7). It’s often the case that a [...]
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- Global| Aug 16 2018
Foreclosures Continue to Ebb
The Mortgage Bankers' Association's latest numbers on home mortgage delinquencies and foreclosures show that problems with home loans continue to fade. At the end of the second quarter, 1.05 percent of all mortgages on 1 to 4-unit [...]
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On Wednesday July 25 BLS released its Q4 report on Business Employment Dynamics: gross job gains and losses. As always, this rather neglected (perhaps because it is released with such a lag) report adds nuance to the regular job data. [...]
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- Global| Jul 25 2018
State Coincident Indexes
The Philadelphia Federal Reserve’s state coincident indexes show some dispersion in growth across the nation. Since June 2017, comparable to the payroll employment numbers, growth has apparently been most rapid in the West, with New [...]
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- Global| Jul 20 2018
State Labor Markets in June
The June data on jobs by state show at best modest changes from May levels. Only 5 states (Georgia, Illinois, Massachusetts, North Carolina, and Tennessee) saw gains that BLS deemed to be statistically significant. The majority of [...]
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- Global| Jun 29 2018
Philadelphia Fed Coincident Indexes
On June 27 the Philly Fed released the May estimates for state coincident economic indexes. These indexes, based largely on details of state payroll employment reports and calibrated to have trends similar to a state’s real GDP, allow [...]
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- Global| Jun 15 2018
State Labor Markets Mirror National Strength in May
State data show continued brisk job growth in May. The sum of the seasonally adjusted gains in payroll employment across the states came to 269,300—quite comparable to the national increase of 223,000. However, most states did not [...]
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- Global| Jun 14 2018
Employer Costs for Q1 2018
On June 8 BLS released the data on March Employer Costs for Employee Compensation (ECEC). This dataset offers a different perspective on labor costs than the ECI. Like the ECI, the numbers come from both private and state and local [...]
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