ECONOMIC PERSPECTIVES
EMPLOYMENT CONDITIONS: AS THE NATION GOES, SO GOES THE FHLBNY DISTRICT
Authored by Brian Jones, FHLBNY Financial Economist

Highlights: 

May 2018 

  • Hiring Slowed Across the FHLBNY District in March
  • Job Creation Ground to a Near Halt in the Empire State
  • Headcount Additions Remained Solid in the Garden State
  • Puerto Rico and the Virgin Islands Posted Modest Job Gains
  • Most of the FHLBNY Coverage Area is Operating at Full Employment
  • Wage Gains in the District Have Lagged National Average

The pace of job creation slowed markedly across the country in March. Capped by a return to more seasonable temperatures during the reference period, nonfarm employers added a comparatively modest 103,000 persons to headcounts, after the eye-catching 326,000 surge posted in February...

 

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