New York federal reserve

4:16pm

Mon October 8, 2012
The Upstate Economy

Mobile reemployment teams tour state

Upstate New York is having a hard time getting over the recession. Unemployment in upstate rose to 8.5 percent in August, close to one percentage point higher than during August 2011, according to a new report from the New York State Department of Labor. New York’s rate peaked above the national trend, and this month Governor Andrew Cuomo started an initiative to help address the issue.

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5:23pm

Wed October 3, 2012
The Upstate Economy

NY Fed says job opportunities growing in high and low skill sectors

Federal Reserve Bank of New York

A new report from the New York Federal Reserve shows that advances in technology and globalization mean job opportunities are growing at both ends of the skill spectrum, but not in the middle.

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7:27pm

Mon April 16, 2012
The Upstate Economy

Manufacturing growth slows, but factory hiring continues

Growth in New York's manufacturing sector has slowed, according to a new survey from the New York Fed. Above, a technician at Rochester's Certified Grinding and Machine.
Zack Seward WXXI

The recent growth in New York's manufacturing sector has slowed, but economists say it's not all bad news.

"I wouldn't make too much out of just one month. It still is indicating growth," says Richard Deitz, senior economist at the Federal Reserve Bank of New York.

On Monday, the New York Fed released the April edition of its Empire State Manufacturing Survey [PDF].

After four months of steady growth, the Fed's "business conditions index" saw a 14-point drop. Still, the overall outlook remains positive. 

Deitz says manufacturing employment continued to increase, though unevenly in different parts of the state.

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12:51pm

Fri April 13, 2012
The Upstate Economy

NY Fed president: keeping young people upstate is key

William Dudley, president of the Federal Reserve Bank of New York, left, visited Syracuse Thursday.
Bizjournal via Flickr

The education and healthcare sectors - or "eds and meds" - provide potential for upstate New York's economy - as long as the region can translate research activity into job creation.

That was the message from William Dudley, president of the Federal Reserve Bank of New York. Dudley was in Syracuse Thursday for a series of speeches. He also sat down with the Innovation Trail.

"The educational establishment is world-class," Dudley said. "And the amount of innovation that those institutions are driving is substantial. But not much of that innovation actually leads to jobs in the region."

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