ECONOMIC REPORT
of the
HUDSON VALLEY
First Quarter 2010
MARIST COLLEGE
Dr. Christy Huebner Caridi
Bureau of Economic Research
School of Management
Poughkeepsie, New York 12601
Edited by Kerry Sykes
June 2010
This report is available on the Bureau of Economic Research homepage at
http://www.marist.edu/management/bureau
The support of research assistant Haley Hart and student research assistants Serena
Bubenheim and Daniel Greco is acknowledged and appreciated.
While every effort has been made to ensure that the information in this report is accurate, Marist College
cannot be held responsible for any remaining errors.
TEXT
Introduction
DATA
1-11
Employment by Place of Residence
12-14
Total U.S. Non-Farm Employment
15-16
U.S. Manufacturing: Hours, Hourly
17-20
and Weekly Wages
CES: Employment by Industry
21-26
Income Maintenance Payments
27-38
Home Sales, Prices, and Permits
39-43
Regional Inflation
44
Sales Tax Collection
45-46
Economic Report of the Hudson Valley
Across the region, labor force participation in the 1st quarter of 2010 declined 1.84%
relative to the 4th quarter of 2009, and was down 4.13% compared to the near-term peak reached
in the 3rd quarter of 2009. Overall, the willingness of eligible persons to either work or actively
seek work for pay has fallen relative to the peak of the business cycle in December of 2007.
Coincident with the reduction in labor force participation was an increase in the joblessness of
Hudson Valley residents (the unemployment rate reached a near-term peak in the 1st quarter of
2010 at 8.59%) and a quarter-over-quarter reduction in the number of non-farm jobs in the
Hudson Valley region. Over the period, employment in the goods-producing industries
(manufacturing, construction and mining) and service-providing industries (public and private)
fell 18,200 and 21,800. In eight of the nine counties that make up the Hudson Valley region, 4th
quarter 2009 nominal average weekly wages in the non-farm sector (most current data) were up
relative to the 4th quarter of 2008. The one exception was Rockland County with a quarter-overquarter nominal decline of 1.93%. The highest increase in real average weekly wages occurred in
Sullivan County at 3.47%, followed by Westchester County at 2.89%. On average, jobs in the
government sector registered the largest increase in real average weekly wages. Historically,
because of one-time bonus payments and payments for unused sick, personal and vacation days,
average weekly wages peak in the 4th quarter. Over the medium-term, weakness in the demand
for labor results in a decline in wages, salaries and benefits.
An important secondary consequence of the ongoing economic downturn is an increase
in the number of persons dependent on income maintenance payments. As of the 1st quarter of
2010, approximately one out of every 12.8 persons in the Hudson Valley was receiving food
stamp benefits and 100,177 persons were receiving Total Temporary Assistance benefits.
Quarter-over-quarter, the monthly expenditure for Total Temporary Assistance advanced $1.68
million from $12.30 million per month in the 1st quarter of 2009 to $13.97 million per month in
the 1st quarter of 2010. This transfer of spending power (to the unemployed and underemployed) places a floor under the economy and creates profits in the business sector. It is not,
however, a viable substitute for job and income growth. Lingering weakness in the labor market
creates dependence on income maintenance payments and an economic environment
unfavorable to capital formation. That said, while total business profits have been positively
impacted by declines in unit labor costs – increased labor productivity – the household sector
continues to endure weak labor demand, low returns to savings and uncertain housing values
and costs.
Across the region, sales of existing single family homes advanced 31.73% relative to the
inter-recession low reached in the 1st quarter of 2009. Sales activity continued to be supported
by The Worker, Homeownership, and Business Assistance Act of 2009. The $8,000 tax credit, in
concert with Federal Reserve and U.S. Treasury support of the market for mortgage-backed
securities, has placed a stable - albeit provisional - floor under the housing market. For the
housing market to move above this floor will require a reduction in joblessness, the substitution
of part-time employment by full-time employment and real wage growth in sufficient magnitude
to reconstitute savings and reduce the level of household indebtedness. Moreover, while the rate
of increase in foreclosures has begun to decline, and on average, median selling prices have risen
Page 1 of 46
above their inter-recession lows, the supply of foreclosed and under-water houses has yet to
reach the marketplace in a meaningful way. That said, while the worst appears to be behind us,
it will take many years for the marketplace to be self-sustaining and as a direct consequence real
housing values (on average) will remain well below the peak valuations recorded during the
housing boom.
Lastly, the revised 2009 construction permit data reveals that the number of singlefamily construction permits issued in the region recorded a year-over-year decline of 36.60%
from 2,490 permits in 2008 to 1,579 permits in 2009. The decline in construction activity was
widespread, with the largest year-over-year declines occurring in Rockland, Westchester and
Orange counties at 69.11%, 44.86% and 42.65%, respectively. The demand for multi-family
permits fell 64.90% from 188 permits in 2008 to 66 permits in 2009. The largest year-over-year
decline in the demand for multi-family construction permits occurred in Dutchess County,
followed by Westchester and Orange counties. The two most important multi-unit projects
were: a five-building, 270-unit complex in Yonkers in Westchester County; and a one-building,
92-unit complex in Warwick Village in Orange County. In the 1st quarter of 2010, 210 singlefamily permits were issued in the Hudson Valley region.
Ω
Page 2 of 46
Hudson Valley Labor Force
1st quarter labor force participation in the Hudson Valley
fell 1.84% relative to the 4th quarter of 2009; labor force participation in New York
State fell .28%; the national labor force grew .16%.
In the 1st quarter of 2010, labor force participation(the number of Hudson Valley
residents1 willing and able to work) fell relative to the 4th quarter of 2009 and is down
4.13% relative to the near-term peak reached in the 3rd quarter of 2009. Labor force
participation in NYS is down 1.79% relative to its near-term peak (3rd quarter of 2009)
and fell .28% between the 4th quarter of 2009 and the 1st quarter of 2010. Nationwide, the
labor force grew .16% between the 1st quarter of 2010 and the 4th quarter of 2009. The
national labor force is down .89% (1.38 million) relative to its near-term peak reached in
the 2nd quarter of 2009. The largest single decline in labor force participation occurred in
Putnam County at 3.37%, followed by Westchester, Rockland and Dutchess at 2.64%,
2.41% and 1.60%, respectively. Labor force participation advanced 4.05% in Greene
County.
Overall, the
willingness of
eligible
persons to
either work
or actively
seek work for
pay has fallen
relative to
December of
2007 (the
peak of the
previous
business cycle). While there is no single reason why the labor force is contracting, it is
not untypical for persons to leave the labor force in response to a reduction in labor
demand. Further, while employment opportunities are beginning to improve, long-term
joblessness, increased demand for part-time workers and stagnant wages continue to put
pressure on the households sector.
Joblessness of Hudson Valley residents reached a near-term peak in the 1st quarter
of 2010 at 8.59%. Over the same time period, unemployment in NYS and nationwide was
8.73% and 9.70%, respectively. As has been the case throughout this economic downturn,
residents in the Putnam-Rockland-Westchester metropolitan statistical area (MSA)
(lower Hudson Valley) experienced a lower rate of joblessness in the 1st quarter of 2010
when compared to residents in the upper Hudson Valley. However, this is due in part to
the reduction in the size of the labor force.
1
For the purposes of this report, the Hudson Valley includes Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Sullivan,
Ulster and Westchester counties. The New York State Department of Labor classifies Columbia and Greene counties as part of the
Capital Region.
Page 3 of 46
Non-Farm Employment by Place of Work2
Employment in the Hudson Valley continues to decline
Between the 1st quarter of 2009 and the 1st quarter of 2010 non-farm employment
in the Hudson Valley fell by 40,000. Employment in the goods-producing industries
(manufacturing, construction and mining) and service-providing industries (public and
private) fell 18,200
and 21,800,
Composition of Non-Farm Employment
respectively.
ServiceGoodsDate
Gov.
Manu
Employment in the
Providing
Producing
manufacturing
Hudson Valley
Dec-07
18.60%
87.81%
12.19%
6.28%
sector declined,
Q1.2009
19.84%
89.11%
10.90%
6.01%
from 58,600 jobs in
Q1.2010
20.03%
90.08%
9.92%
5.72%
1st quarter of 2009
NYS
Dec-07
17.16%
89.76%
10.24%
6.15%
to 51,200 jobs in
Q1.2009
17,90%
90.55%
9.45%
5.78%
the 1st quarter of
Q1.2010
17.92%
91.18%
8.82%
5.44%
2010. QuarterU.S.
Dec-07
16.37%
84.23%
15.77%
9.92%
over-quarter, the
Q1.2009
17.00%
85.28%
14.72%
9.32%
share of non-farm
Q1.2010
17.33%
86.22%
13.78%
8.92%
employment
st
accounted for by the manufacturing sector fell from 6.01% in the 1 quarter of 2009 to
5.72% in the 1st quarter of 2010. The persistent decline in manufacturing and construction
jobs has lead to a significant change in the composition of non-farm employment.
Quarter-over-quarter, there was a .98% shift away from jobs in the goods-producing
industries (manufacturing, construction and mining) toward jobs in the service-providing
industries (public and private). Similarly, since the peak of the business cycle in
December of 2007, goods-producing employment as a share of total non-farm employment
has declined from 12.19% in December of 2007 to 9.92% in the 1st quarter of 2010. The
share of non-farm employment accounted for by the service-providing industries (public
and private) increased from 87.81% to 90.08%; employment in the government sector
increased 1.43%.
In the 1st quarter of 2010, non-farm employment in the Rockland-WestchesterPutnam, NY MSA fell 5.51%, from 564,900 jobs in the 1st quarter of 2009 to 533,800 jobs
in the 1st quarter of 2010. Quarter-over-quarter, the MSA lost 18,100 jobs in the serviceproviding industries and 13,000 in the goods-producing industries. Significant quarterover-quarter job losses occurred in manufacturing (11.75%), retail (7.62%), finance
(8.48%) and professional and business services (6.96%).
In the 1st quarter of 2010, non-farm employment in the PoughkeepsieNewburgh-Middletown, NY MSA (Dutchess and Orange counties) fell 2.81%, from
248,900 in the 1st quarter of 2009 to 241,900 in the 1st quarter of 2010. Quarter-overquarter the MSA lost 3,400 jobs in the service-providing industries and 3,600 in the
goods-producing industries. Employment in the state and local government sector
2
Current Employment Statistics (CES): survey of sample employers excludes self-employed, agricultural, domestic workers
and the military. Place of Work Series.
Page 4 of 46
recorded a slight decline. During the 1st quarter, employment in the manufacturing, trade,
transportation, utilities, retail, information, and business and professional services fell to
inter-recession lows. Employment in the heath care, social assistance and hospital
sectors are above their pre-recession levels.
Non-farm employment in the Kingston, NY MSA (Ulster County) fell 1.15%
from 61,100 jobs in the 1st quarter of 2009 to 60,400 jobs in the 1st quarter of 2010. The
entire quarter-over-quarter job loss was in the goods-providing industries. First quarter
non-farm employment in Columbia County fell 2.50% relative to the 1st quarter of 2010
and continues to decline relative to the peak of the business cycle in December of 2007.
First quarter non-farm employment in Greene County was flat relative to the 1st quarter
of 2010. In Sullivan County, both goods-producing and service-providing employment
is below the inter-recession lows reached in the first quarter of 2009.
Non-Farm Employment by Place of Work and Average
Weekly Wage3 Trends
Non-farm employment
Average Weekly Wages
in the Rockland-WestchesterNonGoodsServiceGovernment
Putnam, NY MSA fell 2.00%
farm
Producing Providing
th
from 587,000 jobs in the 4
Putnam
quarter of 2008 to 574,400 jobs
2007.Q4
$891
$1,098
$786
$1,058
in the 4th quarter of 2009.
2008.Q4
$944
$1,137
$849
$1,113
Coincident with the quarter2009.Q4
$984
$1,171
$870
$1,217
over-quarter reduction in non% change Q4 to Q4
4.03%
2.87%
2.41%
8.53%
farm employment was as an
Rockland
2007.Q4
$951
$1,281
$865
$985
increase in non-farm average
2008.Q4
$1,004
$1,411
$909
$1,020
weekly wages (AWW) in
2009.Q4
$985
$1,386
$880
$1,061
Westchester and Putnam
% change Q4 to Q4
-1.93%
-1.81%
-3.25%
3.86%
counties at 4.36% and 4.03%,
Westchester
respectively and a decrease in
2007.Q4
$1,249
$1,524
$1,222
$1,196
AWW of 1.93% in Rockland
2008.Q4
$1,238
$1,598
$1,185
$1,248
County. Over the period, AWW
2009.Q4
$1,293
$1,652
$1,247
$1,303
in the goods-producing and
% change Q4 to Q4
4.26%
3.30%
4.96%
4.25%
service-providing industries
increased in Putnam and Westchester counties and fell in Rockland County. Average
weekly wages in the government sector increased across the entire MSA. Historically,
AWW tend to rise in the 4th quarter because of year-end bonuses and payments for
unused sick, vacation and personal days. In all cases, 4th quarter 2009 AWW in the
Rockland-Westchester-Putnam, NY MSA were above the AWW in the 4th quarter
of 2007.
3
Average weekly wage data was secured through a special request of the New York State Department of Labor.
Page 5 of 46
Non-farm employment
Average Weekly Wages
in the PoughkeepsieNonGoodsServiceGovernment
Newburgh-Middletown, NY
farm
Producing Providing
MSA (Dutchess and Orange
Dutchess
counties) fell 2.30% from
2007.Q4
$876
$1,496
$703
$905
258,100 jobs in the 4th quarter of 2008.Q4
$910
$1,545
$733
$963
2008 to 252,200 jobs in the 4th
2009.Q4
$945
$1,630
$764
$1,042
quarter of 2009. Over the
% change Q4 and Q4
3.73%
5.20%
4.02%
7.55%
period, non-farm AWW
Orange
recorded a quarter-over-quarter
2007.Q4
$748
$865
$671
$934
increase in Dutchess and
2008.Q4
$783
$952
$688
$1,000
Orange counties at 3.73% and
2009.Q4
$805
$942
$714
$1,029
2.67%, respectively. The AWW
% change Q4 and Q4
2.67%
-1.06%
3.62%
2.86%
in the goods-producing
industries increased in Dutchess County (5.20%) and fell in Orange County (-1.06%).
The AWW in the government sector increased 7.55% in Dutchess County and 2.86% in
Orange County. As noted above, AWW tend to rise in the 4th quarter in response to
year-end payments. In all cases, 4th quarter 2009 AWW in the PoughkeepsieNewburgh-Middletown, NY
NonGoodsServiceMSA (Dutchess and Orange
farm
Producing Providing Government
counties) were above the
Ulster
AWW in the 4th quarter of
2007.Q4
$694
$834
$602
$876
2007.
2008.Q4
$727
$890
$607
$965
In the Kingston, NY
2009.Q4
$751
$915
$627
$1,002
MSA (Ulster County), and in
% change Q4 and Q4
3.14%
2.77%
3.24%
3.66%
the minor counties of
Columbia
Columbia, Greene and
2007.Q4
$666
$813
$641
$646
Sullivan, non-farm employment 2008.Q4
$700
$835
$675
$690
and its subsectors (goods2009.Q4
$703
$916
$679
$674
producing and service%
change
Q4
and
Q4
0.37%
8.85%
0.57%
-2.32%
providing) fell in the 4th quarter
Greene
of 2009 relative to the 4th
2007.Q4
$644
$884
$512
$780
quarter of 2008. In the
2008.Q4
$689
$977
$521
$867
Kingston, NY MSA, AWW
2009.Q4
$705
$936
$539
$907
increased 3.14% in the non-farm % change Q4 and Q4
2.27%
-4.42%
3.26%
4.46%
sector, 2.77% in the goodsSullivan
producing sector and 3.24% in
2007.Q4
$664
$649
$590
$855
the service-providing sector. In
2008.Q4
$699
$685
$617
$902
Columbia County, AWW in
2009.Q4
$735
$695
$654
$950
the non-farm sector recorded a
% change Q4 and Q4
4.84%
1.45%
5.61%
5.04%
quarter-over-quarter increase of
.37%, AWW in the goods-producing sector increased 8.85% and the AWW in the
service-providing sector advanced .57%. Average weekly wages in the government sector
declined 2.32%. In both Greene and Sullivan counties, 4th quarter 2009 AWW in the
government sector advanced relative to the 4th quarter of 2008. AWW in the goodsproducing industries advanced in Sullivan and fell in Greene County.
Page 6 of 46
Monthly Income Maintenance Benefits (Social Assistance)
As of the 1st quarter of 2010, approximately one out of every
12.8 persons in the Hudson Valley were receiving food stamp benefits compared to
1:13.5 in the 4th quarter of 2009.
In the 1st quarter of 2010, 186,900 persons per month were receiving food stamp
benefits compared to 178,000 in the 4th quarter of 2009. This is a three-month increase of
5.00% and a 25.62% increase relative to the 1st quarter of 2009. Over the same one-year
timeframe, the number of food stamp recipients in New York City and New York State
advanced 278,000 (19.98%) and 471,000 (20.92%), respectively. As of the 1st quarter of
2010, approximately one out of every 12.8 persons in the Hudson Valley were receiving
food stamp benefits compared to one in 13.5 in the 4th quarter of 2009. Statewide the
number is approximately one out of every 7.1 persons. Income guidelines for food stamp
eligibility are based on Federal Poverty Levels. Currently, the maximum food stamp
allowance is $200.00 for the first person with a sliding scale for each additional
household member. Households with more than seven members receive a flat sum of
$150.00 per additional member above seven. The food stamp program is funded by the
Federal Government.
The number of persons in the Hudson Valley who received Total Temporary
Assistance (TTA) –
which includes
Family Assistance
(FA)4 and Safety Net
Assistance (SNA)5 –
increased 1.62%
between the 1st
quarter of 2010 and
the 4th quarter of
2009 compared to a
4.16% increase
between the 4th and
3rd quarters. Between
the 1st quarter of 2009
and the 1st quarter of
2010, the number of
TTA recipients
increased from 29,000
per month to 33,400
per month. Over the
same time period, the
monthly expenditure
for TTA advanced
$1.68 million, from
4
As of December 1996, Family Assistance is limited to 60 months per lifetime. To be eligible for Family Assistance,
the household must include (care for) a minor child.
5
Safety Net Assistance has a lifetime limit of two years.
Page 7 of 46
$12.30 million per month in the 1st quarter of 2009 to $13.97 million per month in the 1st
quarter of 2010. Of the two programs, SNA is the most expensive; the average monthly
payment was $468.80 per recipient (compared to $373.57 per recipients for FA) during
the 1st quarter of 2010. Currently, FA and SNA represents 53% and 47% respectively of
TTA. Between the 1st quarter of 2010 and the 4th quarter of 2009, TTA recipients in New
York State were unchanged and fell 1.21% in New York City. Quarter-over-quarter, TTA
recipients increased 5.91% in New York State and 2.89% in New York City.
Home Sales, Prices and Building Permits
In the 1st quarter of 2010, sales of existing single family homes advanced 31.73%
relative to the inter-recession low reached in the 1st quarter of 2009. Over the same time
period, existing home sales in New York State increased 19.70%. Relative to the 4th
quarter of 2009, homes sales fell 38.31% from 3,547 units in the 4th quarter of 2009 to
2,188 units in the
1st quarter of the
current year.
Sales activity in
the market for
single-family
homes has been
supported by
The Worker,
Homeownership,
and Business
Assistance Act of
20096. The
$8,000 tax credit,
in concert with Federal Reserve and U.S. Treasury support of the market for mortgagebacked securities, has placed a stable albeit provisional floor under the housing market.
For the housing market to move above this floor will require sustained job growth,
advances in the real wage and a reduction in the level of household indebtedness.
Moreover, while the rate of increase in foreclosures has begun to decline and on average,
median selling prices have risen above their inter-recession lows, the supply of foreclosed
and under-water houses has yet to reach the marketplace in a meaningful way. That said,
while the worst appears to be behind us, it will take many years for the marketplace to
be self-sustaining and as a direct consequence real housing values will remain well below
the peak valuations recorded during the housing boom.
6
The Worker, Homeownership, and Business Assistance Act of 2009 has been extended. The tax credit now applies to
sales occurring on or after January 1, 2009 and on or before April 30, 2010. The tax credit is for up to $8,000 for first
time home owners purchasing a principal residence.
Page 8 of 46
The annual revised construction
Peak
1st Qt
Peak
%
permit data for 2009 (released by
Median
Median
County
Date
Change
Price
Price
the Census Bureau) revealed that
the number of single-family
2007.Q1
$256,750
$225,000
-12.37%
construction permits issued in the Columbia
region recorded a year-over-year
Dutchess
2006.Q3
$360,000
$256,000
-28.89%
decline of 36.60% from 2,490
2007.Q4
$185,000
$160,000
-13.51%
permits in 2008 to 1,579 permits in Greene
7
2009 . The decline in construction
2007.Q3
$330,000
$254,400
-22.91%
Orange
activity was widespread, with the
largest year-over-year declines
Putnam
2006.Q2
$435,777
$310,000
-28.86%
occurring in Rockland,
2005.Q3
$529,950
$390,000
-26.41%
Rockland
Westchester and Orange at
69.11%, 44.86% and 42.65%,
Sullivan
2007.Q2
$187,500
$110,000
-41.33%
respectively. The most active
Ulster
2007.Q3
$265,000
$215,000
-18.87%
place within the region was the
Town of Fishkill in Dutchess
2007.Q3
$730,000
$599,500
-17.88%
Westchester
County at 117
single-family
permits. Over
the same
period, the
demand for
multi-family
permits fell
64.90% from
188 permits in
2008 to 66
permits in
2009. The
largest yearover-year
decline in the
demand for multi-family construction permits occurred in Dutchess County, followed
by Westchester and Orange counties. The two most important multi-unit projects
were a five-building, 270-unit complex in Yonkers in Westchester County; and a onebuilding, 92-unit complex in Warwick Village in Orange County. In the 1st quarter of
2010, 210 single-family permits were issued in the Hudson Valley region. The total
construction cost is estimated at $56.45 million or $268,787 per permit. The most
active counties within the region were Orange, Westchester and Sullivan counties.
During the 1st quarter of 2010, Orange County issued the most multi-family permits at
nine, followed by Westchester County at six.
7
A significant decline - however far better than the 63.60% decline anticipated from the monthly data.
Page 9 of 46
National and Regional Inflation
Deflation fears lessen as Consumer Price Index (CPI) rises
All item and core inflation remains weak compared to pre-recession levels.
In March of
2010, the all item CPIU (Urban) for the
New York-Northern
New
Jersey-Long Island
metropolitan
statistical area (MSA)
recorded a year-overyear increase
of 2.14% compared to a
2.30% year-over-year
increase in the U.S.
average CPI-U. Both the regional and the U.S. average CPI-U advanced in five of the last five
months.
Within the region, core inflation (all items less food and energy) recorded a quarter12 Month Quarterto- Quarter
Percentage Change
New York-Northern NJ- Long Island
2010
Q1
2009
Q4
Core
1.35%
All Items
U.S. City Average
2009 Q3
2009 Q2
2009 Q1
2010 Q1
2009 Q4
2009 Q3
2009 Q2
2009 Q1
1.58%
1.40%
2.32%
2.62%
1.34%
1.74%
1.51%
1.83%
1.74%
2.11%
1.37%
-0.86%
0.33%
1.30%
2.36%
1.44%
-1.63%
-1.33%
-0.67%
Food
-0.10%
-0.16%
0.80%
3.07%
5.53%
-0.12%
-0.59%
0.37%
2.70%
4.83%
Rent Primary
Residence
1.54%
2.06%
3.13%
5.10%
5.37%
0.31%
0.94%
1.97%
2.93%
3.30%
Owner’s Equivalent
Rent
0.80%
1.10%
2.00%
3.13%
3.47%
0.23%
0.90%
1.57%
2.03%
2.13%
Household Energy
0.13%
-3.79%
-13.66%
-9.98%
0.19%
-2.35%
-6.24%
-12.27%
-8.17%
2.54%
Gasoline
45.70%
-17.17%
-29.73%
-37.53%
-38.73%
42.96%
-19.73%
-32.33%
-37.83%
-38.43%
Medical
2.10%
1.52%
0.46%
0.49%
0.10%
3.61%
3.47%
3.33%
3.13%
2.73%
Services
1.06%
1.31%
1.13%
2.40%
3.43%
0.61%
0.90%
0.70%
1.55%
2.60%
over-quarter increase of 1.35%, compared to a 1.34% quarter-over-quarter increase in the
U.S. average core inflation. Over the same time period, the cost of food (in the MSA)
fell .10% compared to a .16% decline in the 4th quarter of 2009. In contrast, the cost of
gasoline and household energy both registered a quarter-over-quarter advance. The price of
gasoline in the MSA advanced 45.70% in the first quarter of 2010 relative to the first quarter
of 2009 - the gasoline index fell in each of the four quarters of 2009. In the 1 st quarter of
Page 10 of 46
2010, the cost of medical care in the MSA recorded its second consecutive single digit
increase. Overall, medical inflation is well below its pre-recession levels.
Sales Tax Collection
Region-wide sales tax collection is at its lowest since the 1st quarter of 2005.
An important indicator of retail sales activity and state and county revenue is
sales tax collection. In the 1st quarter of 2010, total sales tax
2010.Q1
2009.Q1
2008.Q1
2007.Q1
2006.Q1
2005.Q1
Columbia
$6,893,928
$7,008,124
$7,242,653
$6,690,591
$8,320,299
$6,946,317
Dutchess
$33,237,422
$34,133,431
$34,761,226
$35,412,351
$36,216,291
$35,898,341
Greene
$6,058,459
$6,378,693
$6,541,036
$6,145,731
$6,258,199
$5,449,211
Orange
$51,822,130
$52,442,111
$53,429,206
$50,788,200
$54,007,069
$48,684,206
Putnam
$10,639,164
$10,740,232
$12,212,492
$9,776,773
$10,097,562
$8,207,583
Rockland
$39,637,960
$41,073,424
$44,647,633
$38,990,075
$37,454,110
$37,367,210
Sullivan
$6,934,099
$7,587,668
$7,897,301
$6,810,755
$7,227,046
$6,258,866
Ulster
$22,423,983
$22,305,160
$23,751,831
$23,285,987
$23,719,612
$21,502,440
Westchester
$106,834,560
$104,718,131
$118,490,760
$111,123,998
$111,933,893
$102,241,731
Hudson Valley
$284,481,705
$286,386,974
$308,974,138
$289,024,461
$295,234,081
$272,555,905
collection fell .67% from $286.8 million in the 1st quarter of 2009 to $284.5 million in the
1st quarter of 2010. The largest quarter-over-quarter decline occurred in Sullivan County
at 8.61%, followed by Greene County at 5.02%. Westchester and Ulster counties
recorded quarter-over-quarter increases of 2.02% and .53%, respectively. Region-wide,
sales tax collection fell 1.27% between the 1st quarter of 2010 and the 4th quarter of 2009.
Sales tax collection in Greene and Westchester counties increased 3.45% and 2.37%,
respectively. Across the balance of the region, sales tax collection fell between the 4th
quarter of 2009 and the 1st quarter of 2010.
Importantly, there is a significant disjoint between sales tax collection data and
recent reports of increased retail sales activity. Sales tax data does not support a recovery
in retail sales - region-wide, sales tax collection has consistently fallen since the interrecession high reached in the 3rd quarter of 2009. Moreover, 1st quarter sales tax
collection is the lowest since the 1st quarter of 2005.
Ω
Page 11 of 46
Labor Force, Employment and the Unemployment Rate for Hudson Valley Counties
Average Quarterly
County
1st
4th
2009.Q4 - 2010.Q1
3rd
2nd
1st
4th
Dec-07
% Change
12-07 and Q1
% Change
From Peak
Columbia
Labor Force
Employment
Unemployment rate
30,762
28,244
8.20%
30,967
28,667
7.37%
32,276
29,851
7.50%
31,965
29,597
7.41%
31,108
28,683
7.80%
31,329
29,668
5.30%
31,207
29,855
5.90%
-1.43%
-5.40%
38.98%
-4.69%
-5.40%
0.00%
Dutchess
Labor Force
Employment
Unemployment rate
143,665
131,949
8.13%
146,000
134,800
7.67%
147,954
136,044
8.07%
147,577
136,569
7.46%
146,743
135,592
7.60%
146,713
138,435
5.64%
147,794
142,049
3.90%
-2.79%
-7.11%
108.46%
-2.90%
-7.11%
0.00%
Greene
Labor Force
Employment
Unemployment rate
24,522
22,315
9.00%
23,567
21,600
8.47%
24,487
22,478
8.23%
24,015
21,927
8.73%
24,447
22,286
8.80%
23,811
22,216
6.70%
24,202
22,970
5.10%
1.32%
-2.85%
76.47%
0.00%
-2.85%
0.00%
Orange
Labor Force
Employment
Unemployment rate
177,939
162,854
8.47%
179,233
165,300
7.77%
181,788
166,885
8.23%
181,939
167,530
7.93%
180,463
166,333
7.87%
180,561
169,819
5.97%
178,558
171,049
4.20%
-0.35%
-4.79%
101.67%
-2.20%
-4.79%
0.00%
Putnam
Labor Force
Employment
Unemployment rate
53,890
50,045
7.13%
55,767
52,000
6.63%
57,103
53,163
6.93%
56,634
52,913
6.57%
55,955
52,295
6.57%
56,038
53,318
4.83%
56,380
54,534
3.30%
-4.42%
-8.23%
116.06%
-5.63%
-8.23%
0.00%
Rockland
Labor Force
Employment
Unemployment rate
149,861
138,950
7.30%
153,567
143,100
6.80%
157,841
146,228
7.37%
156,412
145,541
6.97%
154,145
143,841
6.70%
154,740
146,655
5.23%
152,444
146,690
3.80%
-1.69%
-5.28%
92.11%
-5.06%
-5.28%
-0.95%
Sullivan
Labor Force
Employment
Unemployment rate
34,494
30,969
10.23%
34,867
31,800
8.93%
36,918
33,931
8.10%
35,712
32,646
8.57%
35,016
31,463
9.77%
35,396
32,777
7.40%
34,973
32,970
5.60%
-1.37%
-6.07%
82.68%
-6.57%
-8.73%
0.00%
Ulster
Labor Force
Employment
Unemployment rate
89,856
82,273
8.47%
90,267
83,367
7.67%
91,748
84,329
8.10%
91,726
84,777
7.74%
90,204
83,017
7.97%
90,115
84,734
5.97%
92,391
88,385
4.30%
-2.74%
-6.92%
96.98%
-2.74%
-6.92%
0.00%
Source: New York State Dept. of Labor Place of Residence Series
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
Page 12 of 46
6/14/2010
Labor Force, Employment and the Unemployment Rate for Hudson Valley Counties
Average Quarterly
County
1st
4th
2009.Q4 - 2010.Q1
3rd
2nd
1st
4th
Dec-07
% Change
12-07 and Q1
% Change
From Peak
Westchester
Labor Force
Employment
Unemployment rate
477,048
440,932
7.57%
489,967
455,967
6.97%
502,875
465,972
7.33%
498,721
463,784
7.00%
493,624
458,365
7.13%
493,786
467,332
5.33%
485,933
467,908
3.70%
-1.83%
-5.77%
104.59%
-5.14%
-5.77%
0.00%
Lower Hudson Valley
Labor Force
Employment
Unemployment rate
680,799
629,927
7.33%
699,301
604,267
6.80%
717,819
665,363
7.21%
711,768
662,238
6.85%
703,724
654,501
6.80%
704,564
667,305
5.13%
694,757
669,132
3.60%
-2.01%
-5.86%
103.61%
-5.16%
-5.86%
0.00%
Labor Force
Employment
501,237
458,604
504,901
465,534
515,171
473,518
512,934
473,045
507,980
467,375
507,925
477,650
509,125
487,278
-1.55%
-5.88%
-2.70%
-5.88%
Putnam-Rockland-Westchester
Upper Hudson Valley
Unemployment rate
8.75%
7.98%
8.04%
7.97%
8.30%
6.16%
4.83%
81.03%
0.00%
Total Hudson Valley
Labor Force
Employment
Unemployment rate
1,182,036
1,088,531
8.59%
1,204,202
1,069,801
7.59%
1,232,990
1,138,880
7.63%
1,224,701
1,135,283
7.30%
1,211,704
1,121,876
7.41%
1,212,489
1,144,955
5.57%
1,203,882
1,156,410
3.94%
-1.81%
-5.87%
118.02%
-4.13%
-5.87%
0.00%
Albany-Schenectady-Troy
Labor Force
Employment
Unemployment rate
454,059
419,670
7.57%
449,166
418,200
6.90%
457,547
425,174
7.10%
459,134
427,300
6.93%
456,197
422,844
7.33%
454,556
430,170
5.37%
449,812
431,374
4.10%
0.94%
-2.71%
84.63%
-1.11%
-2.71%
0.00%
New York City
Labor Force
Employment
Unemployment rate
3,976,573
3,570,323
10.20%
4,005,233
3,596,933
10.20%
4,051,400
3,642,200
10.10%
4,003,160
3,658,637
8.60%
3,987,673
3,670,122
7.97%
3,980,255
3,714,793
6.70%
3,872,009
3,672,236
5.20%
2.70%
-2.78%
96.15%
-1.85%
-3.89%
0.00%
New York State
Labor Force
Employment
Unemployment rate
9,644,469
8,801,987
8.73%
9,671,133
8,835,267
8.63%
9,820,300
8,964,973
8.99%
9,756,928
8,974,394
8.00%
9,698,652
8,919,843
8.03%
9,691,113
9,090,485
6.20%
9,536,673
9,087,015
4.70%
1.13%
-3.14%
85.74%
-1.79%
-3.17%
-2.89%
U.S. (seasonally adjusted) Labor Force
Employment
Unemployment rate
153,530,667
138,626,333
9.70%
153,289,000
138,724,000
9.50%
154,362,333
139,518,000
9.63%
154,912,667
140,591,000
9.27%
153,992,667
141,578,000
8.07%
154,648,333
144,046,333
6.87%
153,836,000
146,294,000
4.9%
-0.20%
-5.24%
97.96%
-0.89%
-5.24%
0.00%
Source: New York State Dept. of Labor Place of Residence Series
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
Page 13 of 46
6/14/2010
Quarter-to-Quarter % Change (from Previous Year) in Employment
for the Hudson Valley 2001.Q1-2010.Q1
6.00%
4.00%
2.00%
0.00%
-2.00%
-4.00%
-6.00%
-8.00%
2001
2002
2003
2004
Hudson Valley
2005
2006
New York State
Page 14 of 46
2007
United States
2008
2009
2010
Total U.S. NonFarm Employees
(Seasonally Adjusted in Thousands)
Month
2010
2009
2008
2007
2006
2005
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
129,602
129,641
129,871
133,549
132,823
132,070
131,488
131,141
130,637
130,293
130,082
129,857
129,633
129,697
129,547
137,941
137,891
137,858
137,709
137,478
137,285
137,075
136,741
136,283
135,729
135,001
134,328
137,067
137,171
137,410
137,502
137,651
137,706
137,686
137,615
137,667
137,753
137,881
137,951
135,075
135,401
135,705
135,879
135,910
135,979
136,211
136,352
136,452
136,495
136,696
136,873
132,453
132,693
132,835
133,195
133,364
133,610
133,979
134,174
134,237
134,321
134,655
134,813
Average
% Change
129,705
-0.91%
130,901
-4.30%
136,777
-0.59%
137,588
1.10%
136,086
1.79%
133,694
1.73%
Monthly Changes in LABSTAT Series Report
(in Thousands)
Period
2009
2008
2007
2006
2005
Jan-Feb
Feb-Mar
Mar-Apr
Apr-May
May-Jun
Jun-Jul
Jul-Aug
Aug-Sep
Sep-Oct
Oct-Nov
Nov-Dec
Dec-Jan
39
230
(726)
(753)
(582)
(347)
(504)
(344)
(211)
(225)
(224)
64
(150)
(20)
(50)
(33)
(149)
(231)
(193)
(210)
(334)
(458)
(554)
(728)
(673)
(779)
104
239
92
149
55
(20)
(71)
52
86
128
70
(10)
326
304
174
31
69
232
141
100
43
201
177
194
240
142
360
169
246
369
195
63
84
334
158
262
Total
Average
269
135
(4,022)
(335)
(4,392)
(366)
874
73
1,992
166
2,622
219
*All numbers have been adjusted for recent changes
Source: U.S. Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 15 of 46
6/14/2010
Month to Month Change in Non-Farm Employment
(in thousands)
400
230
200
Jan-Feb/10
Feb-Mar/10
39
(225)
(224)
Aug-Sep/09
Sep-Oct/09
Aug-Sep
Sep-Oct
Oct-Nov
Nov-Dec
Dec-Jan
Jan-Feb/ 09
Feb-Mar/ 09
Mar-Apr/09
Apr-May/09
May-Jun/09
Jun-Jul/09
Jul-Aug/09
(344)
(347)
(582)
(779)
(728)
(673)
(554)
(458)
Jul-Aug
Jun-Jul
Apr-May
Mar-Apr
Feb-Mar
(149)
(231)
(210)
(334)
(726)
(211)
Oct-Nov/09
Nov-Dec/09
Dec-Jan/09
64
(20)
(150)
(504)
(1,000)
(33)
Page 16 of 46
6/14/2010
Source: U.S. Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
(753)
(800)
May-Jun
(600)
(193)
(400)
Jan-Feb
(200)
(50)
-
Wage and hours data for Manufacturing workers (NAICS 30)
Average Weekly Hours
New York City**
January
February
March
April
May
June
July
August
September
October
November
December
2010
41.6
39.3
40.9
2009
39.0
38.2
38.5
38.6
39.3
38.7
38.8
38.2
38.9
39.6
38.9
40.6
2008
37.3
38.5
38.4
38.4
37.4
37.6
37.6
37.1
37.0
38.4
38.4
39.8
2007
38.4
37.9
37.3
39.0
40.6
40.7
40.4
39.4
40.0
39.9
40.4
42.3
2006
35.2
36.2
36.0
35.1
37.2
38.3
35.8
37.2
37.8
37.7
39.2
36.8
2005
37.7
37.7
38.0
38.7
38.4
37.3
35.8
38.9
34.9
35.1
35.4
36.5
2004
35.7
35.6
36.4
34.6
36.4
36.0
34.6
36.2
35.7
37.6
38.1
37.6
2003
38.4
37.4
37.0
36.3
36.9
36.8
36.0
34.6
36.4
36.3
36.3
36.0
New York State**
January
February
March
April
May
June
July
August
September
October
November
December
2010
38.4
38.1
39.0
2009
37.8
38.4
38.4
37.9
38.7
39.6
38.8
39.2
40.1
40.5
40.3
40.7
2008
40.0
40.0
40.2
40.4
39.5
39.4
39.1
39.6
39.3
39.2
39.2
38.6
2007
41.1
39.7
40.3
41.1
41.1
41.3
40.3
41.1
41.3
40.3
41.2
41.3
2006
40.7
41.3
41.7
40.0
41.2
41.5
40.3
41.0
41.5
40.8
41.1
41.8
2005
39.3
39.4
39.2
39.6
39.4
39.1
38.5
39.2
39.9
40.5
40.2
40.4
2004
39.6
39.6
39.7
39.1
39.9
39.6
38.9
39.7
39.5
39.7
40.2
40.5
2003
40.3
40.3
40.3
39.9
40.1
40.0
39.0
38.9
40.2
40.1
40.2
40.4
United States*
January
February
March
April
May
June
July
August
September
October
November
December
2010
39.9
39.7
39.9
2009
39.8
39.5
39.4
39.6
39.4
39.5
39.8
39.8
39.9
40.0
40.5
40.6
2008
41.1
41.1
41.2
41.0
41.0
41.0
41.0
40.9
40.5
40.4
40.3
39.9
2007
40.9
40.9
41.2
41.1
41.1
41.4
41.3
41.4
41.4
2006
40.9
41.0
41.1
41.2
41.1
41.3
41.5
41.3
41.1
41.2
41.0
41.0
2005
40.7
40.6
40.4
40.5
40.4
40.4
40.5
40.6
40.7
41.0
40.8
40.8
2004
41.0
41.0
40.9
40.8
40.4
40.7
40.8
40.9
40.8
40.7
40.5
40.5
2003
40.3
40.4
40.4
40.1
40.2
40.3
40.1
40.2
40.8
40.7
41.2
41.3
41.2
41.3
41.1
Seasonly Adjusted*
Not Seasonly Adjusted**
Source: Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 17 of 46
6/14/2010
Wage and hours data for Manufacturing workers (NAICS 30)
Average Hourly Earnings
New York City
January
February
March
April
May
June
July
August
September
October
November
December
2010
$15.60
$16.11
$16.26
2009
$16.38
$16.54
$16.90
$16.89
$17.08
$18.44
$16.10
$16.47
$16.29
$16.24
$16.04
$16.30
2008
$15.90
$15.97
$15.94
$15.91
$15.84
$16.15
$16.26
$16.00
$16.33
$16.03
$16.04
$16.38
2007
$15.89
$15.90
$15.74
$15.42
$14.60
$15.00
$14.58
$14.59
$14.93
$14.70
$14.53
$14.65
2006
$15.04
$14.92
$15.58
$15.41
$14.94
$15.00
$15.30
$15.49
$14.92
$15.53
$15.43
$16.55
2005
$15.15
$15.10
$14.93
$15.36
$15.89
$15.92
$15.30
$14.91
$15.25
$15.03
$15.89
$15.33
2004
$13.99
$13.96
$13.93
$14.04
$13.92
$14.51
$14.78
$14.25
$14.27
$14.04
$14.63
$15.06
2003
$13.53
$12.94
$13.68
$13.83
$13.66
$13.66
$14.35
$14.21
$14.37
$13.48
$13.97
$14.08
New York State
January
February
March
April
May
June
July
August
September
October
November
December
2010
$18.48
$18.62
$18.18
2009
$18.09
$18.33
$18.24
$18.51
$18.44
$18.45
$18.65
$18.14
$18.90
$18.69
$18.40
$18.40
2008
$18.10
$18.22
$18.35
$18.49
$18.49
$18.63
$18.68
$18.74
$18.91
$18.93
$18.70
$18.88
2007
$18.33
$18.43
$18.59
$18.68
$18.48
$18.75
$18.57
$18.78
$18.64
$18.24
$18.18
$18.17
2006
$17.74
$18.02
$18.16
$18.40
$18.40
$18.48
$18.32
$18.47
$18.25
$18.37
$18.42
$18.49
2005
$17.76
$17.74
$17.56
$17.77
$17.72
$17.83
$17.55
$17.86
$17.89
$17.62
$17.95
$17.93
2004
$17.17
$17.00
$16.92
$17.20
$17.26
$17.24
$17.14
$17.32
$17.67
$17.33
$17.45
$17.74
2003
$16.79
$16.70
$16.74
$16.69
$16.70
$16.60
$16.56
$16.88
$16.89
$16.71
$16.91
$17.20
United States
January
February
March
April
May
June
July
August
September
October
November
December
2010
$18.42
$18.47
$18.49
2009
$17.99
$18.07
$18.10
$18.11
$18.11
$18.13
$18.28
$18.26
$18.35
$18.35
$18.38
$18.37
2008
$17.49
$17.55
$17.61
$17.62
$17.65
$17.71
$17.78
$17.76
$17.79
$17.86
$17.94
$17.92
2007
$17.02
$17.06
$17.11
$17.20
$17.23
$17.28
$17.30
$17.33
$17.34
$17.34
$17.40
$17.41
2006
$16.71
$16.72
$16.74
$16.78
$16.79
$16.80
$16.80
$16.85
$16.83
$16.88
$16.89
$16.95
2005
$16.38
$16.42
$16.43
$16.48
$16.54
$16.56
$16.58
$16.65
$16.60
$16.71
$16.68
$16.70
2004
$15.94
$15.98
$16.01
$16.07
$16.08
$16.12
$16.16
$16.22
$16.29
$16.27
$16.29
$16.34
2003
$15.58
$15.62
$15.62
$15.63
$15.64
$15.69
$15.69
$15.76
$15.88
$15.81
$15.92
$16.05
Seasonly Adjusted*
Not Seasonly Adjusted**
Source: Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 18 of 46
6/14/2010
Wage and hours data for Manufacturing workers (NAICS 30)
Average Weekly Earnings
New York City
January
February
March
April
May
June
July
August
September
October
November
December
2010
$648.96
$633.12
$665.03
2009
$638.82
$631.83
$650.65
$651.95
$671.24
$713.63
$624.68
$629.15
$633.68
$643.10
$623.96
$661.78
2008
$593.07
$614.85
$612.10
$610.94
$592.42
$607.24
$611.38
$593.60
$604.21
$615.55
$615.94
$651.92
2007
$610.18
$602.61
$587.10
$601.38
$592.76
$610.50
$589.03
$574.85
$597.20
$586.53
$584.01
$619.70
2006
$529.41
$540.10
$560.88
$540.89
$555.77
$574.50
$547.74
$554.54
$555.02
$587.03
$581.71
$648.76
2005
$571.16
$569.27
$567.34
$594.43
$610.18
$593.82
$547.76
$580.00
$532.23
$527.55
$562.51
$561.08
2004
$499.44
$496.98
$507.05
$485.78
$506.69
$522.36
$511.39
$515.85
$509.44
$527.90
$557.40
$566.26
2003
$519.55
$483.96
$506.16
$502.03
$504.05
$502.69
$516.60
$491.67
$523.07
$489.32
$507.11
$506.88
New York State
January
February
March
April
May
June
July
August
September
October
November
December
2010
$737.35
$737.35
$741.74
2009
$683.80
$703.87
$700.42
$701.53
$713.63
$730.62
$723.62
$711.09
$757.89
$756.95
$741.52
$748.88
2008
$724.00
$728.80
$737.67
$743.30
$730.36
$734.02
$730.39
$742.10
$743.16
$738.27
$733.04
$728.77
2007
$753.36
$731.67
$749.18
$767.75
$759.53
$774.38
$748.37
$771.86
$769.83
$735.07
$749.02
$750.42
2006
$722.02
$744.23
$757.27
$735.60
$758.08
$764.85
$738.30
$757.27
$757.38
$749.50
$756.65
$772.46
2005
$697.97
$698.96
$688.35
$703.69
$698.17
$697.15
$675.68
$700.11
$713.81
$713.61
$721.59
$724.37
2004
$679.93
$673.20
$671.72
$672.52
$688.67
$682.70
$667.75
$687.60
$697.97
$688.00
$701.49
$718.47
2003
$676.64
$673.01
$674.62
$665.93
$669.67
$664.00
$645.84
$656.63
$678.98
$670.07
$679.78
$694.88
United States
January
February
March
April
May
June
July
August
September
October
November
December
2010
$749.88
$738.80
$753.17
2009
$716.00
$713.77
$713.14
$717.16
$713.53
$716.14
$727.54
$726.75
$732.17
$734.00
$750.31
$758.71
2008
$718.84
$721.31
$725.53
$722.42
$723.65
$726.11
$728.98
$726.38
$720.50
$721.54
$722.98
$715.01
2007
$696.12
$697.75
$704.93
$706.92
$708.15
$715.39
$716.22
$715.73
$717.88
$714.41
$718.62
$715.55
2006
$682.62
$684.29
$686.78
$691.10
$689.25
$691.34
$696.37
$695.08
$691.71
$695.46
$692.49
$694.95
2005
$666.67
$666.65
$663.77
$667.44
$668.22
$669.02
$671.49
$675.99
$675.62
$685.11
$680.54
$681.36
2004
$653.54
$655.18
$654.81
$655.66
$659.28
$656.08
$659.33
$663.40
$664.63
$662.19
$659.75
$661.77
2003
$627.87
$626.36
$629.49
$623.64
$628.73
$635.45
$621.32
$633.55
$647.90
$643.47
$655.90
$662.87
Seasonly Adjusted*
Not Seasonly Adjusted**
Source: Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 19 of 46
6/14/2010
Average Weekly Earnings of Manufacturing Workers
$775.00
$725.00
NYS
Dollars
$675.00
$625.00
USA
$575.00
`
$525.00
$475.00
NYC
$425.00
2003
2004
2005
2006
NYC
2007
NYS
2008
2009
2010
USA
Length of Average Work Week for Manufacturing Workers
43
42
NYS
41
Hours
40
USA
39
38
37
NYC
36
35
34
2003
2004
2005
2006
NYC
2007
NYS
Source: Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
2008
2009
2010
USA
6/14/2010
Page 20 of 46
Rockland, Westchester, and Putnam Counties: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (Data in 1000's; Data in red are near-term lows)
Total Nonfarm
Total Private
Total Government
Federal Government
State Government
Local Government
Local Government Education
Goods Producing
Service-Providing
Private Service-Providing
Public Service-Providing
Manufacturing
Trade, Transportation, and Utilities
Wholesale Trade
Transportation and Warehousing
Retail Trade
Food and Beverage Stores
Clothing and Clothing Accessories Stores
General Merchandise Stores
Information
Financial Activities
Finance and Insurance
Professional and Business Services
Educational Services
Health Care and Social Assistance
Hospitals
Leisure and Hospitality
Accommodation and Food Services
2009.Q2
2009.Q1
2008.Q4
2010.Q1 2009.Q4 2009.Q3
573.2
533.8
574.2
575.4
564.9
587.0
438.4
478.0
477.5
477.0
468.1
489.4
95.4
96.2
95.8
98.4
96.8
97.6
5.3
5.2
5.4
5.6
5.5
5.5
14.1
14.5
14.5
14.4
14.2
14.3
75.9
76.5
75.9
78.4
77.1
77.8
43.3
43.0
37.0
45.4
44.8
45.3
51.3
65.7
67.2
66.1
64.3
69.4
482.5
508.5
506.1
509.3
500.6
517.6
420.0
387.1
412.3
410.3
410.9
403.8
N/A
96.2
98.4
98.4
96.8
97.6
26.3
29.2
29.4
29.6
29.8
30.7
98.3
107.2
104.3
105.2
105.4
111.4
21.6
23.6
23.6
23.7
23.5
24.2
12.9
13.5
12.3
17.5
17.5
18.2
59.4
65.9
64.2
64.0
64.3
69.0
14.8
14.5
14.5
14.5
14.6
15.0
7.2
8.0
7.6
7.5
7.9
9.1
9.2
9.5
8.8
8.9
9.0
10.3
13.9
14.5
14.8
15.1
15.1
15.6
32.4
35.6
35.9
35.7
35.4
36.1
21.5
23.7
23.7
23.7
23.7
24.0
64.2
70.1
71.3
71.3
69.0
73.3
24.8
25.1
25.7
25.3
26.7
22.7
89.7
92.2
90.9
90.7
89.7
90.4
19.6
19.5
19.5
19.3
19.3
19.5
39.6
40.6
45.5
43.3
39.6
42.7
29.7
31.6
33.1
32.2
30.7
32.2
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, School of Management, Marist College
Dec-07
593.2
495.7
97.5
5.5
14.2
77.8
45.5
71.0
522.2
424.7
97.5
31.7
116.4
24.8
18.9
72.7
15.0
10.5
11.7
16.2
36.9
24.8
73.8
24.9
88.8
18.9
42.7
32.5
Percent change
Percent change Q1.10 and peak
Q1.10 and near of last Business
term low
Cycle
0.00%
0.00%
0.00%
1.27%
0.00%
0.00%
17.03%
0.00%
0.00%
0.00%
N/A
0.00%
0.00%
0.00%
4.88%
0.00%
2.07%
0.00%
4.55%
0.00%
0.00%
0.00%
0.00%
11.45%
1.01%
3.70%
0.00%
0.00%
-10.01%
-11.56%
-2.15%
-3.64%
-0.70%
-2.44%
-4.84%
-27.75%
-7.60%
-8.85%
N/A
-17.03%
-15.55%
-12.90%
-31.75%
-18.29%
-1.33%
-31.43%
-21.37%
-14.20%
-12.20%
-13.31%
-13.01%
1.61%
1.01%
3.70%
-7.26%
-8.62%
6/22/2010
Page 21 of 46
Dutchess and Orange Counties: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (Data in 1000's; Data in red are near-term lows)
Total Nonfarm
Total Private
Total Government
Federal Government
State Government
Local Government
Local Government Education
Goods Producing
Service-Providing
Private Service-Providing
Public Service-Providing
Manufacturing
Trade, Transportation, and Utilities
Wholesale Trade
Transportation and Warehousing
Retail Trade
Food and Beverage Stores
Clothing and Clothing Accessories Stores
General Merchandise Stores
Information
Financial Activities
Finance and Insurance
Professional and Business Services
Educational Services
Health Care and Social Assistance
Hospitals
Leisure and Hospitality
Accommodation and Food Services
2010.Q1
241.9
189.7
52.2
6.5
9.2
36.5
23.1
26.4
215.5
163.3
N/A
17.9
53.5
9.4
8.5
34.5
7.2
5.3
5.8
4.0
9.1
6.2
20.3
10.8
39.1
8.8
17.2
15.0
2009.Q4
252.2
199.0
53.2
6.5
9.2
37.5
24.5
29.4
222.8
169.6
53.2
18.5
56.2
9.3
8.6
37.1
7.1
5.3
5.8
4.4
9.0
6.1
21.0
13.2
38.0
8.7
18.1
15.4
2009.Q3
248.1
197.5
50.6
6.6
9.3
34.7
20.7
30.3
219.2
167.2
52.0
18.8
54.4
9.3
8.1
35.8
7.1
5.0
5.7
4.5
9.1
6.1
21.0
10.7
37.4
8.8
20.3
16.5
2009.Q2
2009.Q1
2008.Q4
251.4
248.9
258.1
198.2
195.7
205.0
53.2
53.2
53.1
6.5
6.5
6.5
9.4
9.5
9.6
37.3
37.2
37.0
23.8
23.8
24.0
30.4
30.0
32.4
221.0
218.9
225.7
167.8
165.7
172.5
53.2
53.2
53.1
21.1
21.1
21.7
54.4
54.5
57.8
9.3
9.2
9.6
8.5
8.5
9.0
35.5
35.7
38.0
7.1
7.1
7.2
4.9
5.0
4.9
5.7
5.8
5.9
4.5
4.5
4.7
9.1
9.4
9.4
6.1
6.2
6.4
21.1
20.9
21.6
12.0
11.9
12.4
37.5
37.1
37.3
8.7
8.7
8.8
19.6
18.1
19.5
16.0
15.0
15.9
Source: NY State Department of Labor-Current Employment Survey
Compiled by Bureau of Economic Research, School of Management, Marist College
Dec-07
260.1
207.7
52.4
6.4
9.6
36.4
23.3
33.9
226.2
173.8
52.4
21.6
59.1
10.1
10.6
39.0
7.3
5.7
6.6
4.6
9.8
6.7
21.2
11.6
36.7
8.9
19.5
16.0
Percent change
Q1.10 and near
term low
0.00%
0.00%
3.16%
1.56%
0.00%
5.19%
11.59%
0.00%
0.00%
0.00%
N/A
0.00%
0.00%
2.17%
4.94%
0.00%
1.41%
8.83%
1.75%
0.00%
1.11%
1.64%
0.00%
0.93%
6.54%
1.15%
0.00%
0.00%
Percent change
Q1.10 and peak
of last Business
Cycle
-7.00%
-8.67%
-0.38%
1.56%
-4.17%
0.27%
-0.86%
-22.12%
-4.73%
-6.04%
N/A
-17.13%
-9.43%
-6.93%
-19.81%
-11.54%
-1.37%
-7.02%
-12.12%
-13.04%
-7.14%
-7.46%
-4.25%
-6.90%
6.54%
-1.12%
-11.79%
-6.25%
6/22/2010
Page 22 of 46
Columbia County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (Data in 1000's; Data in red are near-term lows)
Total Nonfarm
Total Private
Total Government
2010.Q1
19.6
14.6
5.0
2009.Q4
20.4
15.3
5.1
2009.Q3
21.0
16.0
5.0
2009.Q2
20.9
15.8
5.0
2009.Q1
20.1
15.1
4.9
2008.Q4
21.2
16.1
5.0
Dec-07
21.6
16.2
5.3
2.1
17.5
12.5
2.3
18.1
13.0
1.4
3.6
1.4
3.7
2.6
18.4
13.5
4.9
1.5
3.7
2.5
18.3
13.3
5.0
1.5
3.8
2.5
17.6
12.7
4.9
1.6
3.7
2.8
18.4
13.4
5.0
1.7
3.8
0.7
0.3
0.5
0.9
0.3
0.6
1.1
0.3
0.6
1.0
0.3
0.6
0.9
0.3
0.5
1.3
4.4
1.5
4.5
1.5
4.5
1.5
4.5
1.4
1.4
1.9
1.7
Percent change
Percent change
Q1.10 and near Q1.10 and peak of
term low
last Business Cycle
0.00%
0.00%
2.04%
-9.26%
-9.88%
-5.66%
2.9
18.7
13.4
5.3
1.8
3.9
0.00%
0.00%
0.00%
-27.59%
-6.42%
-6.72%
0.00%
0.00%
-22.22%
-7.69%
1.1
0.3
0.6
1.1
0.3
0.6
0.00%
0.00%
0.00%
-36.36%
0.00%
-16.67%
1.4
4.4
1.6
4.5
1.7
4.3
0.00%
2.33%
-23.53%
2.33%
1.3
1.6
1.6
7.69%
-12.50%
Federal Government
State Government
Local Government
Local Government Education
Goods Producing
Service-Providing
Private Service-Providing
Public Service-Providing
Manufacturing
Trade, Transportation, and Utilities
Wholesale Trade
Transportation and Warehousing
Retail Trade
Natural Resources, Mining and
Construction
Information
Financial Activities
Finance and Insurance
Professional and Business Services
Educational Health Services
Health Care and Social Assistance
Hospitals
Leisure and Hospitality
Accommodation and Food Services
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, School of Management, Marist College
6/22/2010
Page 23 of 46
Greene County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (Data in 1000's; Data in red are near-term lows)
Total Nonfarm
Total Private
Total Government
2010.Q1
14.8
10.1
4.7
2009.Q4
14.5
9.5
4.9
2009.Q3
14.8
9.9
4.8
2009.Q2
14.4
9.7
4.7
2009.Q1
14.9
10.2
4.7
2008.Q4
14.8
10.1
4.7
Dec-07
15.4
10.7
4.8
1.2
13.6
8.9
N/A
0.9
3.2
1.6
12.8
7.9
N/A
1.0
2.9
1.7
13.1
8.2
4.9
1.0
3.0
1.6
12.8
8.0
4.8
1.0
3.1
1.5
13.4
8.7
4.7
1.0
3.1
1.9
12.9
8.2
4.7
1.0
3.1
0.3
0.2
0.5
0.7
0.2
0.4
0.7
0.2
0.4
0.6
0.2
0.4
0.5
0.2
0.4
0.4
1.3
0.5
1.4
0.5
1.2
0.5
1.3
2.9
2.1
2.4
2.1
Percent change
Percent change Q1.10 and peak
Q1.10 and near of last Business
Cycle
term low
2.78%
6.32%
0.00%
-3.90%
-5.61%
-2.08%
1.9
13.6
8.8
4.8
1.0
3.3
0.00%
6.25%
12.66%
N/A
0.00%
10.34%
-36.84%
0.00%
1.14%
N/A
-10.00%
-3.03%
0.9
0.2
0.4
0.9
0.2
0.4
0.00%
0.00%
25.00%
-66.67%
0.00%
25.00%
0.5
1.3
0.6
1.3
0.6
1.4
0.00%
5.69%
-33.33%
-7.14%
2.8
2.2
2.5
38.10%
16.00%
Federal Government
State Government
Local Government
Local Government Education
Goods Producing
Service-Providing
Private Service-Providing
Public Service-Providing
Manufacturing
Trade, Transportation, and Utilities
Wholesale Trade
Transportation and Warehousing
Retail Trade
Natural Resources, Mining and
Construction
Information
Financial Activities
Finance and Insurance
Professional and Business Services
Educational Health Services
Health Care and Social Assistance
Hospitals
Leisure and Hospitality
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, School of Management, Marist College
6/22/2010
Page 24 of 46
Sullivan County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (Data in 1000's; Data in red are near-term lows)
Total Nonfarm
Total Private
Total Government
2009.Q2
2009.Q1
2008.Q4
26.4
19.6
6.8
25.1
18.5
6.6
26.7
20.0
6.7
Dec-07
26.4
19.7
6.7
2.9
24.7
18.2
6.5
1.4
4.4
2.7
23.7
16.9
6.8
1.4
4.3
2.4
22.7
16.1
6.6
1.3
4.2
2.7
24.1
17.3
6.8
1.3
4.5
1.4
0.2
1.2
1.5
0.3
1.3
1.3
0.2
1.3
1.1
0.2
1.3
1.3
5.7
1.4
5.8
1.4
5.7
1.4
5.7
2.0
2.6
4.0
2.8
2010.Q1
24.5
18.0
6.5
2009.Q4
26.0
19.5
6.5
2009.Q3
27.6
21.1
6.5
2.2
22.3
15.8
N/A
1.2
4.2
2.8
23.2
16.7
N/A
1.4
4.3
1.0
0.2
1.2
Percent change
Percent change Q1.10 and peak
Q1.10 and near of last Business
term low
Cycle
0.00%
0.00%
0.00%
-7.20%
-8.63%
-2.99%
2.8
23.6
16.9
6.7
1.4
4.5
0.00%
0.00%
0.00%
N/A
0.00%
0.00%
-21.43%
-5.51%
-6.51%
N/A
-14.29%
-6.67%
1.4
0.2
1.3
1.4
0.2
1.4
0.00%
0.00%
0.00%
-28.57%
0.00%
-14.29%
1.4
5.6
1.5
5.8
1.5
5.7
0.00%
1.79%
-13.33%
0.00%
2.2
2.7
2.4
0.00%
-16.67%
Federal Government
State Government
Local Government
Local Government Education
Goods Producing
Service-Providing
Private Service-Providing
Public Service-Providing
Manufacturing
Trade, Transportation, and Utilities
Wholesale Trade
Transportation and Warehousing
Retail Trade
Natural Resources, Mining and
Construction
Information
Financial Activities
Finance and Insurance
Professional and Business Services
Educational Health Services
Health Care and Social Assistance
Hospitals
Leisure and Hospitality
Accommodation and Food Services
Source: NY State Department of Labor- Current Employment Survery
Compiled by Bureau of Economic Research, School of Management, Marist College
6/22/2010
Page 25 of 46
Ulster County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (Data in 1000's; Data in red are near-term lows)
Total Nonfarm
Total Private
Total Government
Federal Government
State Government
Local Government
Local Government Education
Goods Producing
Service-Providing
Private Service-Providing
Public Service-Providing
Manufacturing
Trade, Transportation, and Utilities
Wholesale Trade
Transportation, Warehousing, and Utilities
Retail Trade
Natural Resources, Mining and Construction
Information
Financial Activities
Finance and Insurance
Professional and Business Services
Educational Health Services
Health Care and Social Assistance
Hospitals
Leisure and Hospitality
2010.Q1
60.4
44.8
15.6
0.5
4.7
10.4
6.2
5.6
54.8
39.2
N/A
3.5
11.7
1.3
1.7
8.7
2.1
0.9
2.5
2009.Q4
62.8
46.6
16.1
0.4
4.7
11.0
6.2
6.2
56.5
40.4
N/A
3.6
12.2
1.3
1.7
9.2
2.6
0.9
2.5
2009.Q3
62.1
46.6
15.5
0.4
4.7
10.4
5.2
6.5
55.6
40.2
15.5
3.7
11.9
1.3
1.5
9.1
2.8
1.0
2.5
2009.Q2
62.8
46.6
16.3
0.5
4.9
10.9
6.6
6.4
56.5
40.2
16.3
3.7
12.0
1.3
1.7
9.0
2.7
1.0
2.5
2009.Q1
61.1
45.3
15.8
0.5
4.8
10.5
6.3
6.3
54.8
39.0
15.8
3.8
11.9
1.3
1.7
8.9
2.5
1.0
2.5
2008.Q4
63.4
47.6
15.9
0.5
4.6
10.7
6.3
6.7
56.7
40.8
15.9
3.9
12.8
1.4
1.8
9.6
2.8
1.0
2.6
Dec-07
64.3
48.5
15.8
0.5
4.8
10.5
6.3
7.1
57.2
41.4
15.8
4.2
13.4
1.4
1.9
10.1
2.9
1.1
2.7
4.4
10.6
4.4
11.1
4.3
10.6
4.6
10.6
4.1
10.5
4.1
10.6
6.4
6.8
7.3
7.1
6.5
7.1
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, School of Management, Marist College
Percent change
Percent change Q1.10 and peak
Q1.10 and near of last Business
term low
Cycle
0.00%
0.00%
0.86%
25.00%
2.17%
0.00%
20.00%
0.00%
0.00%
0.51%
N/A
0.00%
0.00%
0.00%
13.33%
0.00%
0.00%
0.00%
0.00%
-6.07%
-7.63%
-1.27%
0.00%
-2.08%
-0.95%
-1.59%
-21.13%
-4.20%
-5.31%
N/A
-16.67%
-12.69%
-7.14%
-10.53%
-13.86%
-27.59%
-18.18%
-7.41%
4.4
10.3
7.32%
2.91%
0.00%
2.91%
6.8
0.00%
-5.88%
6/22/2010
Page 26 of 46
Food Stamps - Recipients
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
13,378
12,982
12,710
12,159
11,201
10,176
Dutchess
57,087
54,273
50,670
47,465
43,851
40,585
Greene
15,588
14,846
14,139
13,588
12,737
11,676
Orange
106,702
100,256
93,845
90,086
85,431
80,612
Putnam
5,214
5,009
4,581
4,181
3,599
3,272
Rockland
95,295
91,758
87,677
83,066
78,685
74,741
Sullivan
30,696
28,410
26,470
25,623
24,179
22,484
Ulster
51,221
47,743
44,929
41,931
38,500
35,002
Westchester
185,520
178,739
168,186
156,966
147,683
140,205
Hudson Valley Total
560,701
534,016
503,207
475,065
445,866
418,753
New York City
5,006,681
4,871,893
4,675,680
4,420,075
4,173,053
3,997,391
New York State
8,166,655
7,896,345
7,542,569
7,150,986
6,753,702
6,425,652
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009 Q2
2009.Q1
2008.Q4
Columbia
3.05%
2.14%
4.53%
8.55%
10.07%
5.71%
Dutchess
5.18%
7.11%
6.75%
8.24%
8.05%
6.35%
Greene
5.00%
5.00%
4.06%
6.68%
9.09%
6.43%
Orange
6.43%
6.83%
4.17%
5.45%
5.98%
4.43%
Putnam
4.09%
9.34%
9.57%
16.17%
9.99%
3.68%
Rockland
3.85%
4.65%
5.55%
5.57%
5.28%
3.29%
Sullivan
8.05%
7.33%
3.31%
5.97%
7.54%
5.19%
Ulster
7.28%
6.26%
7.15%
8.91%
9.99%
7.82%
Westchester
3.79%
6.27%
7.15%
6.29%
5.33%
3.70%
Hudson Valley Total
5.00%
6.12%
5.92%
6.55%
6.47%
4.56%
New York City
2.77%
4.20%
5.78%
5.92%
4.39%
4.24%
New York State
3.42%
4.69%
5.48%
5.88%
5.11%
4.31%
Data: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 27 of 46
6/19/2010
Food Stamps - Expenditures
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
$1,974,299
$1,879,319
$1,856,871
$1,777,138
$1,375,879
$1,208,472
Dutchess
$8,265,388
$7,864,094
$7,397,906
$6,998,023
$5,472,870
$4,959,761
Greene
$2,233,355
$2,116,625
$2,005,684
$1,928,537
$1,547,226
$1,369,629
Orange
$15,387,535
$14,798,877
$13,894,427
$13,227,481
$10,909,120
$9,893,473
Putnam
$730,141
$677,530
$628,940
$602,005
$439,154
$380,871
$13,704,090
$13,170,004
$12,549,551
$11,945,796
$9,693,808
$8,985,893
Sullivan
$4,314,575
$4,035,444
$3,752,947
$3,660,263
$2,953,118
$2,706,723
Ulster
$7,302,294
$6,799,438
$6,425,981
$6,018,236
$4,705,095
$4,240,875
Westchester
$27,299,468
$26,267,776
$24,775,050
$23,188,773
$18,662,820
$17,377,851
Hudson Valley Total
$81,211,145
$77,609,107
$73,287,357
$69,346,252
$55,759,090
$51,123,548
$800,667,812
$778,981,098
$747,399,332
Rockland
New York City
New York State
$1,245,342,464 $1,203,847,838
$708,030,390
$1,153,163,927 $1,098,281,437
$573,260,819
$551,324,204
$886,557,861
$838,063,751
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
5.05%
1.21%
4.49%
29.16%
13.85%
27.64%
Dutchess
5.10%
6.30%
5.71%
27.87%
10.35%
26.62%
Greene
5.51%
5.53%
4.00%
24.64%
12.97%
25.98%
Orange
3.98%
6.51%
5.04%
21.25%
10.27%
22.49%
Putnam
7.77%
7.73%
4.47%
37.08%
15.30%
44.33%
Rockland
4.06%
4.94%
5.05%
23.23%
7.88%
21.55%
Sullivan
6.92%
7.53%
2.53%
23.95%
9.10%
37.03%
Ulster
7.40%
5.81%
6.78%
27.91%
10.95%
30.22%
Westchester
3.93%
6.03%
6.84%
24.25%
7.39%
20.81%
Hudson Valley Total
4.64%
5.90%
5.68%
24.37%
9.07%
23.78%
New York City
2.78%
4.23%
5.56%
23.51%
3.98%
25.26%
New York State
3.45%
4.40%
5.00%
23.88%
5.79%
24.52%
Data: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 28 of 46
6/19/2010
Total Temporary Assistance - Recipients
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
2,516
2,435
2,325
2,416
2,174
2,008
Dutchess
8,764
8,482
7,891
7,498
7,225
6,829
Greene
3,078
2,928
2,825
2,673
2,668
2,445
Orange
18,996
19,167
18,358
16,995
15,662
14,897
Putnam
333
347
361
336
305
311
Rockland
8,714
8,375
8,035
7,568
7,330
7,028
Sullivan
5,894
5,636
5,395
5,517
5,074
4,796
Ulster
9,009
8,594
8,175
7,921
7,527
7,000
42,873
42,613
41,275
40,157
39,056
39,079
Hudson Valley
100,177
98,577
94,640
91,081
87,021
84,383
New York City
1,049,529
1,062,393
1,034,252
1,026,094
1,020,022
1,014,173
New York State
1,640,755
1,642,009
1,593,510
1,568,140
1,549,194
1,529,404
Westchester
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
3.33%
4.73%
-3.77%
11.13%
8.27%
-1.86%
Dutchess
3.32%
7.49%
5.24%
3.78%
5.80%
0.87%
Greene
5.12%
3.65%
5.69%
0.19%
9.12%
2.90%
Orange
-0.89%
4.41%
8.02%
8.51%
5.14%
0.11%
Putnam
-4.03%
-3.88%
7.44%
10.16%
-1.93%
-18.59%
Rockland
4.05%
4.23%
6.17%
3.25%
4.30%
-1.26%
Sullivan
4.58%
4.47%
-2.21%
8.73%
5.80%
12.45%
Ulster
4.83%
5.13%
3.21%
5.23%
7.53%
4.35%
Westchester
0.61%
3.24%
2.78%
2.82%
-0.06%
-0.34%
Hudson Valley
1.62%
4.16%
3.91%
4.67%
3.13%
0.74%
New York City
-1.21%
2.72%
0.80%
0.60%
0.58%
0.98%
New York State
-0.08%
3.04%
1.62%
1.22%
1.29%
1.23%
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 29 of 46
6/19/2010
Total Temporary Assistance - Expenditures
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
$916,994
$852,800
$877,936
$1,066,512
$751,808
$694,280
Dutchess
$3,693,617
$3,397,543
$3,031,709
$3,317,787
$3,107,559
$2,556,517
Greene
$930,383
$896,746
$834,365
$818,603
$746,125
$707,885
Orange
$7,162,725
$8,480,092
$7,333,215
$6,915,306
$5,871,352
$5,479,423
Putnam
$192,299
$162,556
$172,888
$180,198
$160,688
$163,788
Rockland
$2,923,243
$2,679,512
$2,519,836
$2,390,311
$2,323,940
$2,288,118
Sullivan
$2,070,642
$1,923,560
$1,867,267
$2,037,339
$1,779,288
$1,646,291
Ulster
$3,278,623
$3,349,548
$3,003,171
$3,073,806
$2,897,405
$2,564,326
Westchester
$20,747,994
$20,865,059
$19,769,938
$21,008,628
$19,232,247
$19,485,635
Hudson Valley
$41,916,520
$42,607,416
$39,410,325
$40,808,490
$36,870,412
$35,586,263
New York City
$328,300,339
$340,813,174
$332,184,941
$318,944,634
$318,464,000
$319,621,000
New York State
$514,264,143
$521,026,026
$503,887,382
$489,195,147
$481,968,735
$476,556,196
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
7.53%
-2.86%
-17.68%
41.86%
8.29%
0.79%
Dutchess
8.71%
12.07%
-8.62%
6.77%
21.55%
-19.83%
Greene
3.75%
7.48%
1.93%
9.71%
5.40%
10.16%
Orange
-15.53%
15.64%
6.04%
17.78%
7.15%
-9.17%
Putnam
18.30%
-5.98%
-4.06%
12.14%
-1.89%
-23.84%
Rockland
9.10%
6.34%
5.42%
2.86%
1.57%
3.72%
Sullivan
7.65%
3.01%
-8.35%
14.50%
8.08%
3.85%
Ulster
-2.12%
11.53%
-2.30%
6.09%
12.99%
-1.98%
Westchester
-0.56%
5.54%
-5.90%
9.24%
-1.30%
-14.00%
Hudson Valley
-1.62%
8.11%
-3.43%
10.68%
3.61%
-10.62%
New York City
-3.67%
2.60%
4.15%
0.15%
-0.36%
-0.64%
New York State
-1.30%
3.40%
3.00%
1.50%
1.14%
-0.70%
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 30 of 46
6/19/2010
Family Assistance - Recipients
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
1,430
1,348
1,324
1,350
1,267
1,221
Dutchess
5,040
4,957
4,638
4,497
4,364
4,178
Greene
1,682
1,569
1,576
1,444
1,526
1,430
Orange
10,565
10,774
10,104
9,460
9,070
8,788
Putnam
190
201
193
160
171
171
Rockland
4,658
4,367
4,177
3,810
3,698
3,508
Sullivan
3,219
3,283
3,155
3,204
2,992
2,914
Ulster
4,817
4,658
4,453
4,392
4,260
4,225
Westchester
21,649
21,132
20,228
19,506
19,104
19,451
Hudson Valley
53,250
52,289
49,848
47,823
46,452
45,886
New York City
453,843
470,671
460,074
449,710
448,776
450,955
New York State
763,648
777,057
755,519
735,495
730,197
729,423
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
6.08%
1.81%
-1.93%
6.55%
3.77%
-1.21%
Dutchess
1.67%
6.88%
3.14%
3.05%
4.45%
4.74%
Greene
7.20%
-0.44%
9.14%
-5.37%
6.71%
7.28%
Orange
-1.94%
6.63%
6.81%
4.30%
3.21%
1.93%
Putnam
-5.47%
4.15%
20.63%
-6.43%
0.00%
-22.62%
6.66%
4.55%
9.63%
3.03%
5.42%
1.36%
-1.95%
4.06%
-1.53%
7.09%
2.68%
10.76%
Ulster
3.41%
4.60%
1.39%
3.10%
0.83%
6.69%
Westchester
2.45%
4.47%
3.70%
2.10%
-1.78%
-0.76%
Hudson Valley
1.84%
4.90%
4.23%
2.95%
1.23%
1.85%
New York City
-3.58%
2.30%
2.30%
0.21%
-0.48%
1.25%
New York State
-1.73%
2.85%
2.72%
0.73%
0.11%
1.47%
Rockland
Sullivan
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 31 of 46
6/19/2010
Family Assistance - Expenditures
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
$373,546
$332,403
$335,825
$359,178
$298,094
$309,958
Dutchess
$1,757,646
$1,636,533
$1,517,735
$1,483,354
$1,439,933
$1,313,271
Greene
$398,348
$398,277
$379,110
$366,091
$355,106
$327,733
Orange
$3,493,105
$4,278,624
$3,463,371
$3,118,844
$2,854,590
$2,873,983
Putnam
$101,445
$82,967
$65,132
$57,479
$76,098
$70,660
$1,470,957
$1,341,949
$1,193,050
$1,143,975
$1,112,030
$1,080,235
$866,661
$873,286
$851,201
$960,590
$852,837
$772,764
Ulster
$1,497,294
$1,433,038
$1,359,522
$1,315,578
$1,315,118
$1,312,548
Westchester
$9,933,365
$8,873,210
$8,550,442
$8,819,349
$7,584,375
$8,348,293
Hudson Valley
$19,892,367
$19,250,287
$17,715,388
$17,624,438
$15,888,181
$16,409,445
New York City
$120,818,456
$133,077,710
$130,692,339
$123,859,993
$125,324,000
$126,691,000
New York State
$208,410,691
$218,091,885
$210,956,348
$202,425,564
$201,156,115
$202,204,392
Rockland
Sullivan
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
12.38%
-1.02%
-6.50%
20.49%
-3.83%
6.40%
Dutchess
7.40%
7.83%
2.32%
3.02%
9.64%
-19.77%
Greene
0.02%
5.06%
3.56%
3.09%
8.35%
7.46%
Orange
-18.36%
23.54%
11.05%
9.26%
-0.67%
-9.74%
Putnam
22.27%
27.38%
13.31%
-24.47%
7.70%
-25.03%
9.61%
12.48%
4.29%
2.87%
2.94%
2.89%
-0.76%
2.59%
-11.39%
12.63%
10.36%
-0.64%
4.48%
5.41%
3.34%
0.03%
0.20%
-1.23%
11.95%
3.77%
-3.05%
16.28%
-9.15%
-14.68%
Hudson Valley
3.34%
8.66%
0.52%
10.93%
-3.18%
-11.07%
New York City
-9.21%
1.83%
5.52%
-1.17%
-1.08%
-1.37%
New York State
-4.44%
3.38%
4.21%
0.63%
-0.52%
-1.24%
Rockland
Sullivan
Ulster
Westchester
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 32 of 46
6/19/2010
Safety Net Assistance - Recipients
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
1,086
1,087
1,001
1,066
907
787
Dutchess
3,724
3,525
3,253
3,001
2,861
2,651
Greene
1,450
1,359
1,249
1,229
1,142
1,015
Orange
8,431
8,393
8,254
7,535
6,592
6,109
Putnam
143
146
168
176
134
140
Rockland
4,056
4,008
3,858
3,758
3,632
3,520
Sullivan
2,675
2,353
2,240
2,313
2,082
1,882
Ulster
4,192
3,936
3,722
3,529
3,267
2,775
Westchester
21,224
21,481
21,047
20,651
19,952
19,628
Hudson Valley
46,981
46,288
44,792
43,258
40,569
38,497
New York City
595,686
591,722
574,178
576,384
571,246
563,218
New York State
877,107
864,952
837,991
832,645
818,997
799,981
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
-0.09%
8.59%
-6.10%
17.53%
15.25%
-2.84%
Dutchess
5.65%
8.36%
8.40%
4.89%
7.92%
-4.67%
Greene
6.70%
8.81%
1.63%
7.62%
12.51%
-2.68%
Orange
0.45%
1.68%
9.54%
14.31%
7.91%
-2.38%
Putnam
-2.05%
-13.10%
-4.55%
31.34%
-4.29%
-13.04%
1.20%
3.89%
2.66%
3.47%
3.18%
-3.75%
13.68%
5.04%
-3.16%
11.10%
10.63%
15.18%
6.50%
5.75%
5.47%
8.02%
17.73%
0.98%
-1.20%
2.06%
1.92%
3.50%
1.65%
0.07%
Hudson Valley
1.50%
3.34%
3.55%
6.63%
5.38%
-0.54%
New York City
0.67%
3.06%
-0.38%
0.90%
1.43%
0.77%
New York State
1.41%
3.22%
0.64%
1.67%
2.38%
1.01%
Rockland
Sullivan
Ulster
Westchester
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 33 of 46
6/19/2010
Safety Net Assistance - Expenditures
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
$543,448
$520,397
$542,111
$707,334
$453,714
$384,322
Dutchess
$1,935,971
$1,761,010
$1,513,974
$1,834,433
$1,667,626
$1,243,246
Greene
$532,035
$498,469
$455,255
$452,512
$391,019
$380,152
Orange
$3,669,620
$4,201,468
$3,869,844
$3,796,462
$3,016,762
$2,605,440
Putnam
$90,854
$79,589
$107,756
$122,719
$84,590
$93,128
Rockland
$1,452,286
$1,337,563
$1,326,786
$1,246,336
$1,211,910
$1,207,883
Sullivan
$1,203,981
$1,050,274
$1,016,066
$1,076,749
$926,451
$873,527
Ulster
$1,781,329
$1,916,510
$1,643,649
$1,758,228
$1,582,287
$1,251,778
Westchester
$10,814,629
$11,991,849
$11,219,496
$12,189,279
$11,647,872
$11,137,342
Hudson Valley
$22,024,153
$23,357,129
$21,694,937
$23,184,052
$20,982,231
$19,176,818
New York City
$207,481,883
$207,735,464
$201,492,602
$195,084,641
$193,140,000
$192,930,000
New York State
$305,853,452
$302,934,141
$292,931,034
$286,769,583
$280,812,620
$274,351,804
2009.Q1
2008.Q4
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
Columbia
4.43%
-4.01%
-23.36%
55.90%
18.06%
-3.32%
Dutchess
9.94%
16.32%
-17.47%
10.00%
34.13%
-19.88%
Greene
6.73%
9.49%
0.61%
15.73%
2.86%
12.60%
Orange
-12.66%
8.57%
1.93%
25.85%
15.79%
-8.53%
Putnam
14.15%
-26.14%
-12.19%
45.08%
-9.17%
-22.91%
8.58%
0.81%
6.45%
2.84%
0.33%
4.48%
Sullivan
14.63%
3.37%
-5.64%
16.22%
6.06%
8.17%
Ulster
-7.05%
16.60%
-6.52%
11.12%
26.40%
-2.75%
Westchester
-9.82%
6.88%
-7.96%
4.65%
4.58%
-13.48%
Hudson Valley
-5.71%
7.66%
-6.42%
10.49%
9.41%
-10.23%
New York City
-0.12%
3.10%
3.28%
1.01%
0.11%
-0.16%
0.96%
3.41%
2.15%
2.12%
2.35%
-0.31%
Rockland
New York State
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 34 of 46
6/19/2010
Supplemental Social Security Income - Recipients
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
4,664
4,658
4,636
4,634
4,622
4,542
Dutchess
14,636
14,667
14,470
14,535
14,342
14,114
Greene
3,835
3,858
3,850
3,812
3,865
3,785
Orange
19,487
19,439
19,164
19,269
19,204
19,072
Putnam
2,453
2,465
2,420
2,474
2,481
2,501
14,443
14,585
14,288
14,249
14,098
13,984
7,531
7,539
7,461
7,455
7,501
7,538
Ulster
12,395
12,403
12,222
12,265
12,230
12,223
Westchester
50,456
50,435
49,875
49,955
49,932
49,771
Hudson Valley
129,900
130,049
128,386
128,648
128,275
127,530
New York City
1,247,699
1,250,696
1,240,307
1,241,266
1,237,347
1,233,303
New York State
2,010,354
2,014,473
1,995,892
1,997,781
1,989,688
1,980,605
Rockland
Sullivan
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
0.13%
0.47%
0.04%
0.26%
1.76%
0.82%
Dutchess
-0.21%
1.36%
-0.45%
1.35%
1.62%
0.35%
Greene
-0.60%
0.21%
1.00%
-1.37%
2.11%
0.13%
Orange
0.25%
1.43%
-0.54%
0.34%
0.69%
0.23%
Putnam
-0.49%
1.86%
-2.18%
-0.28%
-0.80%
-0.56%
Rockland
-0.97%
2.08%
0.27%
1.07%
0.82%
0.76%
Sullivan
-0.11%
1.05%
0.08%
-0.61%
-0.49%
-0.67%
Ulster
-0.06%
1.48%
-0.35%
0.29%
0.06%
0.39%
0.04%
1.12%
-0.16%
0.05%
0.32%
0.95%
Hudson Valley
-0.11%
1.30%
-0.20%
0.29%
0.58%
0.54%
New York City
-0.24%
0.84%
-0.08%
0.32%
0.33%
0.23%
New York State
-0.20%
0.93%
-0.09%
0.41%
0.46%
0.38%
Westchester
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 35 of 46
6/19/2010
Supplemental Social Security Income - Expenditures
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
$2,636,135
$2,509,623
$2,470,444
$2,669,310
$2,572,487
$2,328,020
Dutchess
$8,062,573
$8,399,010
$7,947,294
$8,030,618
$7,897,648
$7,428,628
Greene
$2,101,439
$2,028,453
$1,983,787
$2,048,672
$2,098,027
$1,902,512
Orange
$10,449,260
$10,455,586
$10,166,183
$10,262,695
$10,015,872
$9,548,400
Putnam
$1,323,484
$1,282,337
$1,248,034
$1,244,841
$1,219,886
$1,169,076
Rockland
$7,939,015
$8,030,703
$7,767,091
$7,809,171
$7,671,728
$7,146,429
Sullivan
$3,839,310
$3,868,949
$3,843,847
$3,963,265
$4,030,900
$3,771,364
Ulster
$6,703,118
$7,058,383
$6,733,700
$6,681,324
$6,488,834
$6,361,302
Westchester
$26,614,368
$26,581,784
$26,246,671
$26,487,532
$26,054,838
$24,821,820
Hudson Valley
$69,668,702
$70,214,828
$68,407,051
$69,197,428
$68,050,220
$64,477,551
New York City
$717,516,093
$718,282,013
$707,822,956
$711,953,664
$706,146,341
$669,798,875
New York State
$1,135,193,517 $1,140,439,540 $1,121,286,497 $1,132,039,544 $1,117,871,233 $1,060,836,991
Quarterly Percentage Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
5.04%
1.59%
-7.45%
3.76%
10.50%
1.63%
Dutchess
-4.01%
5.68%
-1.04%
1.68%
6.31%
-0.14%
Greene
3.60%
2.25%
-3.17%
-2.35%
10.28%
0.37%
Orange
-0.06%
2.85%
-0.94%
2.46%
4.90%
-0.48%
Putnam
3.21%
2.75%
0.26%
2.05%
4.35%
-4.19%
Rockland
-1.14%
3.39%
-0.54%
1.79%
7.35%
1.15%
Sullivan
-0.77%
0.65%
-3.01%
-1.68%
6.88%
-2.75%
Ulster
-5.03%
4.82%
0.78%
2.97%
2.00%
-1.75%
0.12%
1.28%
-0.91%
1.66%
4.97%
0.52%
Hudson Valley
-0.78%
2.64%
-1.14%
1.69%
5.54%
-0.11%
New York City
-0.11%
1.48%
-0.58%
0.82%
5.43%
0.14%
New York State
-0.46%
1.71%
-0.95%
1.27%
5.38%
0.57%
Westchester
Source: New York State Office of Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 36 of 46
6/19/2010
Home Energy Assistance - Recipients
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
10,995
7,144
12,542
12,341
10,262
6,203
Dutchess
31,653
22,820
31,645
30,675
25,139
17,925
Greene
14,074
9,233
16,129
15,675
12,866
7,922
Orange
45,382
33,010
54,403
49,270
35,439
25,928
Putnam
4,224
2,881
4,501
4,442
3,636
2,397
Rockland
30,517
25,073
34,824
32,970
24,733
20,215
Sullivan
23,614
14,678
26,375
25,898
21,513
12,209
Ulster
41,945
26,456
46,696
45,705
36,021
19,932
Westchester
71,821
67,867
57,393
57,194
54,858
51,950
Hudson Valley
274,225
209,162
284,508
274,170
224,467
164,681
New York City
2,065,935
N/A
2,247,469
2,100,716
1,755,931
N/A
New York State
4,078,548
2,048,265
4,574,270
4,337,061
3,486,510
1,685,783
Quarterly Percent Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
53.91%
-43.04%
1.63%
20.26%
65.44%
-32.43%
Dutchess
38.71%
-27.89%
3.16%
22.02%
40.25%
-21.44%
Greene
52.43%
-42.76%
2.90%
21.83%
62.41%
-41.62%
Orange
37.48%
-39.32%
10.42%
39.03%
36.68%
-35.46%
Putnam
46.62%
-35.99%
1.33%
22.17%
51.69%
-14.73%
Rockland
21.71%
-28.00%
5.62%
33.30%
22.35%
-10.62%
Sullivan
60.88%
-44.35%
1.84%
20.38%
76.21%
-47.03%
Ulster
58.55%
-43.34%
2.17%
26.88%
80.72%
-46.42%
5.83%
18.25%
0.35%
4.26%
5.60%
62.93%
Hudson Valley
31.11%
-26.48%
3.77%
22.14%
36.30%
-19.00%
New York City
N/A
N/A
6.99%
19.64%
N/A
N/A
99.12%
-55.22%
5.47%
24.40%
106.82%
-49.70%
Westchester
New York State
Source: New York State Office and Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 37 of 46
6/19/2010
Home Energy Assistance - Expenditures
Quarterly Sum
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
$5,314,188
$3,149,064
$7,613,514
$7,516,486
$6,342,775
$3,284,344
Dutchess
$11,407,328
$6,653,813
$15,274,830
$14,657,751
$11,246,148
$5,945,563
Greene
$7,137,185
$4,463,499
$10,427,824
$10,153,033
$8,343,041
$4,503,314
Orange
$16,372,401
$10,078,840
$25,830,628
$23,214,455
$15,496,552
$8,680,208
Putnam
$1,751,578
$1,097,894
$2,246,188
$2,209,950
$1,714,512
$825,856
Rockland
$7,781,600
$5,512,584
$12,532,861
$11,601,832
$7,577,097
$4,849,789
Sullivan
$10,768,911
$5,771,762
$15,896,003
$15,576,397
$12,735,011
$5,687,687
Ulster
$17,937,925
$9,958,387
$27,145,269
$26,565,117
$20,702,508
$9,195,907
$6,838,014
$5,215,443
$7,541,437
$7,447,597
$6,150,398
$4,089,990
Hudson Valley
$85,309,130
$51,901,286
$124,508,554
$118,942,618
$90,308,042
$47,062,658
New York City
$113,822,579
N/A
$136,159,117
$129,317,264
$94,567,871
N/A
New York State
$894,884,045
$533,445,946
$1,262,768,525
$1,214,373,930
$934,642,342
$488,929,377
Westchester
Quarterly Percent Change
Counties
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
68.75%
-58.64%
1.29%
18.50%
93.12%
-20.25%
Dutchess
71.44%
-56.44%
4.21%
30.34%
89.15%
-34.53%
Greene
59.90%
-57.20%
2.71%
21.69%
85.26%
-26.98%
Orange
62.44%
-60.98%
11.27%
49.80%
78.53%
-44.28%
Putnam
59.54%
-51.12%
1.64%
28.90%
107.60%
-24.45%
Rockland
41.16%
-56.01%
8.02%
53.12%
56.24%
-38.80%
Sullivan
86.58%
-63.69%
2.05%
22.31%
123.90%
-47.24%
Ulster
80.13%
-63.31%
2.18%
28.32%
125.13%
-43.45%
Westchester
31.11%
-30.84%
1.26%
21.09%
50.38%
3.81%
Hudson Valley
64.37%
-58.32%
4.68%
31.71%
91.89%
-37.20%
New York City
N/A
N/A
5.29%
36.75%
N/A
N/A
67.76%
-57.76%
3.99%
29.93%
91.16%
-41.59%
New York State
Source: New York State Office and Temporary and Disability Assistance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 38 of 46
6/19/2010
Sales: Existing Single Family Homes
2009.Q1-2010.Q1
2010
County
2009
1st Q
4th Q
3rd Q
% Change
2nd Q
1st '10 to
3rd '09
1st Q
4th '09 to
2nd '09
3rd '09 to
1st '09
Columbia
70
135
100
75
49
-30.00%
80.00%
104.08%
Dutchess
408
701
723
516
374
-43.57%
35.85%
93.32%
Greene
71
103
99
69
46
-28.28%
49.28%
115.22%
Orange
305
635
619
429
310
-50.73%
48.02%
99.68%
Putnam
124
169
159
131
88
-22.01%
29.01%
80.68%
Rockland
211
371
376
233
189
-43.88%
59.23%
98.94%
51
75
78
65
46
-34.62%
15.38%
69.57%
Ulster
194
336
298
224
134
-34.90%
50.00%
122.39%
Westchester
754
1022
1190
709
425
-36.64%
44.15%
180.00%
2,188
3,547
3,642
2,451
1,661
-39.92%
44.72%
119.27%
13,973
22,626
24,103
18,141
11,672
-42.03%
24.72%
106.50%
4,496,666
5,233,333
4,646,667
4,756,667
4,583,333
-3.23%
10.02%
1.38%
Sullivan
Hudson Valley Total
New York State
**U.S.
Source: NYSAR, (**NAR)
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 39 of 46
6/22/2010
Median Selling Price (in Dollars)
2009.Q1-2010.Q1
2010
2009
% Change
1st '10 to
3rd '09
4th '09 to
2nd '09
3rd '09 to
1st '09
County
1st Q
4th Q
3rd Q
2nd Q
1st Q
Columbia
$225,000
$215,000
$190,950
$227,750
$190,000
17.83%
-5.60%
0.50%
Dutchess
$256,000
$269,900
$280,000
$269,950
$280,000
-8.57%
-0.02%
0.00%
Greene
$160,000
$174,000
$165,000
$165,000
$156,000
-3.03%
5.45%
5.77%
Orange
$254,400
$255,500
$260,000
$270,000
$260,450
-2.15%
-5.37%
-0.17%
Putnam
$310,000
$330,000
$330,000
$324,450
$342,450
-6.06%
1.71%
-3.64%
Rockland
$390,000
$415,000
$431,600
$420,000
$407,500
-9.64%
-1.19%
5.91%
Sullivan
$110,000
$125,080
$123,500
$138,000
$119,000
-10.93%
-9.36%
3.78%
Ulster
$215,000
$215,644
$203,750
$209,000
$190,560
5.52%
3.18%
6.92%
Westchester
$599,500
$560,000
$630,000
$565,000
$534,000
-4.84%
-0.88%
17.98%
Hudson Valley*
$279,988
$284,458
$290,533
$269,950
$260,450
-3.63%
5.37%
11.55%
New York State
$220,000
$210,000
$205,000
$185,500
$199,000
7.32%
13.21%
3.02%
U.S.**
$165,733
$169,600
$176,000
$182,000
$169,900
-5.83%
-6.81%
3.59%
* Estimate ** Medians of Last Month of Quarter
Source: NYSAR, (**NAR)
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 40 of 46
6/22/2010
Monthly Construction Permits
Single Family Homes
2010
Counties
Q1.10
March
2009
February
Estimate
January
2008
Actual
Actual
Columbia
4
2
2
0
27
98
116
Dutchess
24
9
6
9
98
312
354
Greene
0
0
0
0
0
123
169
Orange
57
14
31
12
271
359
626
Putnam
8
2
2
4
35
37
75
Rockland
12
4
3
5
87
76
246
Sullivan
37
10
20
7
112
226
313
Ulster
18
8
4
6
87
171
270
Westchester
50
12
22
16
190
177
321
210
61
90
59
907
Hudson Valley
1,579
2,490
Monthly Construction Permits
Non-single Family Construction (# of buildings)
2010
Counties
Q1.10
March
2008
2009
February
Estimate
January
Actual
Actual
Columbia
0
0
0
0
0
3
6
Dutchess
0
0
0
0
0
3
30
Greene
0
0
0
0
0
2
1
Orange
9
5
2
2
26
12
53
Putnam
0
0
0
0
3
3
Rockland
2
0
2
0
6
6
14
Sullivan
3
1
1
1
10
12
29
Ulster
1
0
0
1
12
16
11
Westchester
6
2
3
1
9
9
41
21
8
8
5
63
66
188
Hudson Valley
Source: U.S. Census Bureau
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 41 of 46
6/22/2010
Dollar Cost of Construction Single Family Homes
2010
March
2009
February
Estimate
January
2008
Actual
Actual
Counties
Q1.10
Columbia
$2,236,119
$872,040
$1,364,079
$0
$5,973,533
$24,687,078
$40,969,468
Dutchess
$5,433,256
$3,747,452
$385,752
$1,300,052
$21,250,997
$67,279,161
$67,897,794
Greene
$0
$0
$0
$0
$0
$21,366,148
$35,227,606
Orange
$8,570,966
$2,216,790
$4,335,902
$2,018,274
$45,986,345
$59,947,700
$111,217,293
Putnam
$4,003,203
$677,012
$2,297,012
$1,029,179
$10,620,076
$11,688,130
$26,343,624
Rockland
$4,330,733
$778,000
$1,707,900
$1,844,833
$27,281,089
$25,541,235
$55,235,949
Sullivan
$4,430,418
$1,059,106
$2,318,113
$1,053,199
$14,973,210
$35,324,341
$52,469,553
Ulster
$3,700,345
$1,838,233
$695,878
$1,166,234
$15,779,417
$41,198,745
$55,634,740
Westchester
$23,740,180
$4,344,543
$14,153,498
$5,242,139
$93,734,087
$91,599,493
$155,817,848
Hudson Valley
$56,445,220
$15,533,176
$27,258,134
$13,653,910
$235,598,754
$378,632,031
$600,813,875
Dollar Cost of Construction Non-single Family Construction (# of buildings)
2010
Counties
Q1.10
March
2008
2009
February
Estimate
January
Actual
Actual
Columbia
$0
$0
$0
$0
$0
$1,810,794
$1,539,452
Dutchess
$0
$0
$0
$0
$0
$930,000
$30,720,367
Greene
$0
$0
$0
$0
$0
$3,449,445
$150,000
Orange
$2,997,523
$1,424,989
$786,267
$786,267
$11,194,586
$14,441,659
$46,954,567
Putnam
$0
$0
$0
$0
$0
$2,639,060
$2,611,380
$4,080,000
$0
$4,080,000
$0
$2,531,450
$10,496,250
$5,980,117
Sullivan
$258,330
$86,110
$86,110
$86,110
$761,356
$4,583,162
$4,951,648
Ulster
$426,764
$0
$0
$426,764
$2,154,180
$7,051,470
$23,709,592
$8,983,574
$400,000
$7,843,574
$740,000
$43,828,550
$43,828,550
$24,771,423
$16,746,191
$1,911,099
$12,795,951
$2,039,141
$60,470,122
$89,230,390
$141,388,546
Rockland
Westchester
Hudson Valley
Source: U.S. Census Bureau
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 42 of 46
6/22/2010
Monthly Average Cost of Construction per Permit Single Family Homes
2010
March
2009
February
Estimate
January
2008
Actual
Actual
Counties
Q1.10
Columbia
$559,030
$436,020
$682,040
$0
$221,242
$251,909
$353,185
Dutchess
$226,386
$416,384
$64,292
$144,450
$216,847
$215,638
$191,802
Greene
$0
$0
$0
$0
$0
$173,709
$208,447
Orange
$150,368
$158,342
$139,868
$168,190
$169,691
$166,985
$177,663
Putnam
$500,400
$338,506
$1,148,506
$257,295
$303,431
$315,895
$351,248
Rockland
$360,894
$194,500
$569,300
$368,967
$313,576
$336,069
$224,536
Sullivan
$119,741
$105,911
$115,906
$150,457
$133,689
$156,302
$167,634
Ulster
$205,575
$229,779
$173,970
$194,372
$181,373
$240,928
$206,055
Westchester
$474,804
$362,045
$643,341
$327,634
$493,337
$517,511
$485,414
Hudson Valley
$268,787
$254,642
$302,868
$231,422
$259,756
$239,792
$241,291
Monthly Average Cost of Construction per Permit Non-single Family Construction (# of buildings)
2010
Counties
Q1.10
March
2008
2009
February
Estimate
January
Actual
Actual
Columbia
$0
$0
$0
$0
$0
$603,598
$256,575
Dutchess
$0
$0
$0
$0
$0
$310,000
$1,024,012
Greene
$0
$0
$0
$0
$0
$1,724,723
$150,000
Orange
$333,058
$284,998
$393,134
$393,134
$430,561
$1,203,472
$885,935
Putnam
$0
$0
$0
$0
$0
$879,687
$870,460
$2,040,000
$0
$2,040,000
$0
$421,908
$1,749,375
$427,151
$86,110
$86,110
$86,110
$86,110
$76,136
$381,930
$170,746
$426,764
$0
$0
$426,764
$179,515
$440,717
$2,155,417
$1,497,262
$200,000
$2,614,525
$740,000
$4,869,839
$4,869,839
$604,181
$797,438
$238,887
$1,599,494
$407,828
$959,843
$1,351,976
$752,067
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
Source: U.S. Census Bureau
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 43 of 46
6/22/2010
The Rate of Inflation
Year-to-Year Percent Change in CPI-U
2004 to Mar 2010
Consumer Price Index (CPI-U) NY, NY -Northeastern NJ
2010
2009
2008
2007
2006
2005
2004
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2.39%
1.79%
2.14%
1.52%
1.59%
0.84%
0.76%
-0.10%
-0.60%
-1.12%
-0.96%
-0.62%
0.00%
1.82%
2.33%
3.67%
3.56%
3.81%
3.55%
3.99%
4.53%
5.11%
5.38%
5.16%
4.29%
2.18%
1.57%
2.72%
3.08%
2.91%
2.53%
2.50%
2.54%
2.48%
1.89%
2.43%
3.11%
3.89%
3.66%
3.75%
3.59%
2.73%
3.62%
4.82%
5.65%
4.99%
4.67%
3.29%
2.35%
2.60%
3.31%
4.10%
3.88%
4.42%
4.17%
3.42%
2.28%
3.41%
4.08%
4.81%
4.49%
3.91%
3.58%
2.67%
2.50%
3.20%
3.71%
3.86%
4.62%
3.95%
3.31%
3.16%
3.65%
3.91%
3.76%
Average
2.11%
0.46%
3.90%
2.81%
3.78%
3.88%
3.53%
2010
Consumer Price Index (CPI-U) US City Average
2009
2008
2007
2006
2005
2004
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2.62%
2.12%
2.30%
0.02%
0.23%
-0.37%
-0.73%
-1.27%
-1.42%
-2.09%
-1.51%
-1.28%
-0.18%
1.85%
2.74%
4.29%
4.03%
3.97%
3.93%
4.16%
5.01%
5.62%
5.38%
4.95%
3.69%
1.06%
0.10%
2.08%
2.42%
2.78%
2.57%
2.69%
2.69%
2.36%
1.97%
2.76%
3.52%
4.31%
4.06%
4.10%
3.88%
4.42%
4.17%
3.42%
2.28%
3.41%
4.08%
4.81%
4.49%
3.91%
3.58%
2.97%
3.01%
3.15%
3.51%
2.80%
2.53%
3.17%
3.64%
4.69%
4.35%
3.46%
3.42%
1.93%
1.69%
1.74%
2.29%
3.05%
3.27%
2.99%
2.65%
2.54%
3.19%
3.52%
3.26%
Average
2.35%
-0.33%
3.85%
2.85%
3.88%
3.39%
2.68%
Source: U.S. Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 44 of 46
6/15/2010
Total Sales Tax Collection
2008.Q4 - 2010.Q1
County
2010.Q1
2009.Q4
2009.Q3
2009.Q2
2009.Q1
2008.Q4
Columbia
$6,893,928
$6,907,394
$7,687,494
$7,989,991
$7,008,124
$6,879,993
Dutchess
$33,237,422
$35,823,532
$35,797,119
$33,956,512
$34,133,431
$37,116,801
Greene
$6,058,459
$5,856,613
$6,544,794
$6,241,669
$6,378,693
$6,199,443
Orange
$51,822,130
$53,678,120
$54,232,791
$53,551,603
$52,442,111
$53,364,174
Putnam
$10,639,164
$11,704,923
$12,086,192
$11,371,196
$10,740,232
$11,981,110
Rockland
$39,637,960
$40,009,770
$41,670,303
$41,378,574
$41,073,424
$40,678,402
Sullivan
$6,934,099
$7,288,227
$9,629,777
$8,918,534
$7,587,668
$8,226,786
Ulster
$22,423,983
$22,502,569
$24,427,327
$22,174,842
$22,305,160
$23,594,487
Westchester
$106,834,560
$104,366,233
$104,774,825
$101,254,065
$104,718,131
$108,470,561
Hudson Valley
$284,481,706
$288,137,381
$296,850,622
$286,836,987
$286,386,974
$296,511,758
Quarterly Percentage Change
County
2009.Q1-2008.Q4 2008.Q4-2008.Q3
2010.Q1-2009.Q4
2009.Q4-2009.Q3
2009.Q3-2009.Q2
2009.Q2-2009.Q1
Columbia
-0.19%
-10.15%
-3.79%
14.01%
1.86%
-22.18%
Dutchess
-7.22%
0.07%
5.42%
-0.52%
-8.04%
-10.74%
Greene
3.45%
-10.51%
4.86%
-2.15%
2.89%
-21.18%
Orange
-3.46%
-1.02%
1.27%
2.12%
-1.73%
-10.73%
Putnam
-9.11%
-3.15%
6.29%
5.87%
-10.36%
-12.57%
Rockland
-0.93%
-3.98%
0.71%
0.74%
0.97%
-8.53%
Sullivan
-4.86%
-24.32%
7.97%
17.54%
-7.77%
-26.88%
Ulster
-0.35%
-7.88%
10.16%
-0.58%
-5.46%
-12.64%
Westchester
2.37%
-0.39%
3.48%
-3.31%
-3.46%
-8.83%
Hudson Valley
-1.27%
-2.94%
3.49%
0.16%
-3.41%
-11.09%
Source: NYS Department of Taxation and Finance
Compiled by Bureau of Economic Research, School of Management, Marist College
Page 45 of 46
6/15/2010
Percentage Change in Sales Tax Collection between 1st Qt. 2010 and 4th Qt. 2009
Columbia
‐0.19%
‐7.22%
Dutchess
Greene
3.45%
‐3.46%
Orange
Putnam
‐9.11%
Rockland
‐0.93%
Sullivan
‐4.86%
Ulster
‐0.35%
Westchester
2.37%
Hudson Valley
‐1.27%
‐10.0%
‐8.0%
‐6.0%
‐4.0%
‐2.0%
0.0%
2.0%
4.0%
Percentage Change in Sales Tax Collection Year‐Over‐Year
Percentage Change in Sales Tax Collection Year‐Over‐Year
Columbia
‐1.63%
Dutchess
‐2.63%
Greene
‐5.02%
‐1.18%
Orange
‐0.94%
Putnam
Rockland
‐3.49%
Sullivan
‐8.61%
Ulster
0.53%
2.02%
‐0.67%
‐11.0%
‐9.0%
‐7.0%
‐5.0%
‐3.0%
‐1.0%
Page 46 of 46
1.0%
Westchester
Hudson Valley
3.0%