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The Region

Learn more about the communities we serve within the Second District—including New York State, the 12 northern counties of New Jersey and Fairfield County in Connecticut

Features

New York Fed releases an assessment of the distressed residential real estate situation The New York Fed has released new data about the distressed residential real estate market, including the inventory of real estate owned properties, or REO. Through interactive maps, viewers can explore the current status and potential future scenarios for REO properties at the national and state-specific levels. Another interactive map examines the magnitude and recent history of distressed sales in New York, New Jersey and Connecticut at the state and county level. October 5, 2012

Household Debt and Credit Report - Second Quarter 2012 The New York Fed’s Quarterly Report on Household Debt and Credit provides unique data and insight into the credit conditions and activity of U.S. consumers. In its latest report, the New York Fed found delinquency rates for mortgages, credit cards, and auto loans decreased from the previous quarter. However, rates for student loans and home equity lines of credit increased. August 29, 2012

Report on the Competitiveness of Puerto Rico's Economy Experts from the Bank's research, outreach and education teams were commissioned to analyze the challenges facing Puerto Rico and to put forward recommendations on how to capitalize on the Island’s strengths to promote growth. The results, presented in both English and Spanish, represent their efforts made in consultation with local, national and international experts, as well as stakeholders on the Island itself. June 29, 2012

Regional Economic Press Briefing on Job Polarization and Rising Inequality in the Region This press briefing will identify which jobs have been shrinking in the region over the past thirty years, show how this is widening the gap in wages across occupations, as well as address some of the challenges facing job seekers and policymakers as a result of these changes. The event, part of the New York Fed’s Regional Economic Press Briefing series, will also include an update on local economic conditions and trends from New York Fed economists. May 30, 2012

Recent Speeches

Regional and National Economic Conditions Remarks by President Dudley before the Morris County Chamber of Commerce, Florham Park, New Jersey September 18, 2012

Current Economic Indicators

Empire State Manufacturing Survey The October survey indicates conditions for New York manufacturers continued to decline for a third consecutive month. The general business conditions index increased four points but remained negative at -6.2. October 15, 2012

Beige Book The Second District's economy has held steady since the last report. October 10, 2012

Index of Coincident Economic Indicators In August, the CEI showed economic activity grew robustly in New York City but increased only modestly in New York State and New Jersey. For August 2012, released September 2012

Research Highlights

New York Fed Study Examines Job Polarization and Rising Wage Inequality Over the past three decades, employment opportunities in both the United States and the New York-northern New Jersey region have become increasingly polarized into high- and low-skilled jobs, according to the latest issue in the New York Fed's Second District Highlights series, Job Polarization and Rising Inequality in the Nation and the New York-Northern New Jersey Region. Technological advances and globalization have created new jobs for workers at the high end of the skill spectrum and largely spared the service jobs of workers at the low end, but have displaced many middle-skill workers. October 1, 2012

A Review of Federal Stimulus Spending in New York and New Jersey A recent issue in the New York Fed's Second District Highlights series, The American Recovery and Reinvestment Act of 2009: A Review of Stimulus Spending in New York and New Jersey, shows that the spending components of the American Recovery and Reinvestment Act expanded funding to states across various federal agencies and supplemented state tax revenues. In New York and New Jersey, the spending components were broadly similar to those of the nation, though the amounts allocated across agencies in the two states differed. September 17, 2012

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