Economic Report of the Hudson Valley
Published by the Marist Bureau of Economic Research, the Economic Report of the Hudson Valley is a comprehensive compendium of economic and demographic indicators regarding the Hudson Valley of New York State. Learn more.
Second Quarter 2013
Year over year, there was little change in either labor force participation or employment, although because employment advanced while the labor force contracted, the unemployment rate fell 1.01 percentage points relative to the same period last year. Overall, labor force participation contracted 0.41 percent (-4,567) from 1,127,333 participants in the second quarter of 2012 to 1,122,767 in the second quarter of the current year while employment posted a slight increase, advancing 0.68 percent (7,133) from 1,042,167 to 1,049,300. As of the second quarter, the unemployment rate was 6.54 percent compared to 7.55 percent one year earlier.
First Quarter 2013
Since the end of the Great Recession in June of 2009, GDP has grown slightly less than 2.00 percent per year: high enough to maintain the current level of joblessness, but not of sufficient magnitude to provide full employment. Continued contraction in public-sector spending and employment is adding to this weakness as is the household sector’s unwillingness to forego saving and/or incur debt to support current consumption. There are pockets of growth in both the national and regional economies and the housing sector has begun to build a sustainable bottom. However, overall economic activity will not fully recover until the average household witnesses sustained income growth.
Special Report: Employment in the Hudson Valley 2011
Over the 10-year period ending in 2011, private-sector job creation in the Hudson Valley grew at an annualized rate of less than two tenths of one percent (.14 percent). Nearby regions witnessed similar results with the New York City Region posting the highest rate of growth at .82 percent followed by the Long Island and Capital regions at .25 percent and .22 percent, respectively. Statewide, private-sector job creation grew at an annualized rate of .32 percent per year. Across the state, the annual rate of job creation ranged from a high of 1.81 percent in Schuyler County to a low of -1.45 percent in Hamilton County. Overall, eight counties reported private-sector job growth greater than one percent per annum while half of all counties reported zero to negative job growth rates. Over the same 10-year period, public-sector job creation in the Hudson Valley contracted at an annualized rate of -.21 percent compared to a -.23 percent contraction statewide. Nearby regions—New York City, Long Island and Capital—posted similar results.
- Fourth Quarter 2012
- Third Quarter 2012
- Second Quarter 2012
- First Quarter 2012
- Special Report: Income in the Hudson Valley 2011
Find more reports in the archive.