ECONOMIC REPORT
of the
HUDSON VALLEY
Third Quarter 2009
MARIST COLLEGE
Dr. Christy Huebner Caridi
Bureau of Economic Research
School of Management
Poughkeepsie, New York 12601
Edited by Robin Will
Jan 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, Daniel Greco and Trey Savage 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
12-13
Non-Farm Employment by Place of Work
14-21
Total U.S. Non-Farm Employment
22
U.S. Manufacturing: Hours, Hourly
and Weekly Wages
23-26
Income Maintenance Payments
27-34
Home Sales, Prices, and Permits
35-51
Regional Inflation
52
Sales Tax Collection
53
Economic Report of the Hudson Valley
Regional Review
Across the region, labor force participation continues to expand faster than nonfarm employment. The labor force has grown from 1.20 million participants in December
of 2007 (the peak of the pervious business cycle) to 1.23 million participants in the third
quarter of 2009 – a 2.42% increase. This trend supports the notion that the region is
becoming more reliant on employment opportunities in New York City and the area in
and around the city of Albany. Over the same time period, labor force participation in the
U.S. and New York State increased .34% and 2.97%, respectively. Within the region, the
largest percentage increase occurred in Sullivan County at 5.56%; the labor force in
Dutchess County was virtually unchanged. Overall, residents in the Putnam-RocklandWestchester Metropolitan Statistical Area (MSA) – lower Hudson Valley – have
experienced a lower rate of joblessness than their counterparts in the upper Hudson
Valley. Since December of 2007, total non-farm employment in the Hudson Valley has
fallen 2.96%, from 981,000 in December of 2007 to 952,000 in October of 2009. Private
employment has dropped from 798,500 in December of 2007 to 770,200 in October of
2009, a 3.54% decline. Over the same time period, the public sector’s share government
of total non-farm employment increased 2.67%; nationwide, the public share of non-farm
employment increased 5.76%. In New York State, the public share increased 1.81%.
Across the region, jobs in the service-providing and goods-producing sectors have fallen
19,300 and 9,800, respectively. Overall, employment in the goods-producing industries –
which currently represents 11.53% of all non-farm employment in the Hudson Valley has
fallen since December of 2007– 8.20% compared to a 2.24% decline in the serviceproviding industries. Two areas of special concern is manufacturing in Dutchess County
and financial services in Westchester County. In Dutchess County, manufacturing is a
“basic” industry – dependent on external factors – which is a primary engine for
economic growth. The same is true of financial services in Westchester County. If current
economic conditions become the new normal, economic growth in and around Dutchess
and Westchester counties will slow. Nationwide, total non-farm employment has fallen
5.53% from 138.9 million in December of 2007 to 132.1 million in October of the current
year. Goods-producing employment –which currently represents 14.15% of total
employment has fallen 16.64%; employment in the service- providing industries –
85.85% of current non-farm employment has declined 3.00%.
In the third quarter of 2009,168,000 persons per month were receiving food stamp
benefits compared to 123,000 in December of 2007. Between the second and third
quarters of 2009, the number of recipients who received monthly food stamp benefits
increased by 10 thousand or 6.32%. Over the same time frame, New York City
experienced an 85 thousand person per month increase (10.72%); in New York State food
stamp recipients increased by 130,000 per month (8.80%). The number of persons in the
Hudson Valley who received Total Temporary Assistance (TTA) – which includes
Family Assistance (FA) and Safety Net Assistance (SNA) increased 3.90% between the
second and third quarters of 2009. Since the peak of the previous business cycle in
3
December of 2007, the number of TTA recipients in the region has increased by 15.53%.
Between the second and third quarters, TTA recipients in New York State and New York
City increased 1.62% and .79%, respectively.
Sales of existing single family homes fell 2.28% between the third quarter of 2008
and the third quarter of 2009. Over the same time period, existing home sales in New
York State declined 1.76%. Between the second and third quarters of the current year, the
number of existing single family homes sold in the Hudson Valley increased 48.59%, up
from 2,451 in the second quarter to 3,642 in the third quarter. Sales in the third quarter of
2009 increased 119.27% relative to the first three months of the year. The recent upturn
in the residential real estate market is directly attributable to the first time home buyers
credit in concert with the actions of the Federal Reserve and U.S. Treasury to support the
market for mortgage backed securities.
Each county in the region recorded a significant increase in home sales activity
between the second and third quarters. Over the same time period, the average selling
price of an existing single family home increased from its near-term low in Dutchess,
Putnam and Ulster counties. In contrast, the average selling prices in Orange and Sullivan
counties continued to decline. Median selling prices in Columbia, Orange, Sullivan and
Ulster fell relative to the second quarter of 2009, but remained above their near-term
lows. The median selling prices in Dutchess, Rockland and Westchester counties
increased relative to the second quarter. The median existing home prices in Rockland
and Westchester moved above their near-term lows recorded in the first quarter of 2009;
in Dutchess County, the third quarter median selling price at $280,000 was $10,050
above the second quarter median selling price but is flat relative to the near-term low –
$280,000 – recorded in the first quarter of 2009. In New York State, average and median
selling prices rose in the third quarter relative to the second quarter of 2009. In the U.S.,
average selling prices declined from $273,000 in the second quarter of 2009 to $269,000
in the third quarter. The near–term low was reached in the first quarter of 2009 at
$257,000.
New home construction remains weak despite the recent uptick in the residential
real estate market. During the first ten months of 2009, 764 single family home
construction permits were issued; 44 multi-family unit construction permits were issued
in the Hudson Valley Region. At present, single family home construction nationwide
and in New York State is down year-over-year 35.00% and 29.08%, respectively.
4
Hudson Valley Labor Force
► Labor Force Participation in NYS and
the Hudson Valley continues to expand
Across the region, labor force participation– the number of Hudson Valley
residents1 willing and able to work – continues to expand faster than non-farm
employment. This trend supports the notion that the region is becoming more reliant on
employment opportunities in New York City and the area in and around the city of
Albany. Across the region, the labor force has grown from 1.20 million participants in
December of
2007 (the peak
of the pervious
business cycle)
to 1.23 million
participants in
the third
quarter of 2009
– a 2.42%
increase. Over
the same time
period, labor
force
participation in
the U.S. and New York State increased .34% and 2.97%, respectively. The largest single
increase occurred in Sullivan County at 5.56%, followed by Rockland and Westchester
counties at 3.54% and 3.49%, respectively. Labor Force participation in Dutchess was
virtually unchanged; Ulster recorded a .70% decrease. Overall, employment in the
Hudson Valley region has fallen 1.52% since December of 2007. The largest percentage
of declines occurred in Ulster and Dutchess counties at 4.59% and 4.23%, respectively.
Both counties have seen a significant reduction in manufacturing, transportation,
warehousing, and retail employment.
Because labor force participation grew by more than the increase in (non-farm)
employment, the unemployment rate for Hudson Valley residents has increased 93.65%
since the peak of the previous business cycle: the unemployment rate nationwide has
increased 96.60%; unemployment in New York State has expanded to 91.28%.
Compared to the rest of the region and on average, residents in the Putnam-RocklandWestchester Metropolitan Statistical Area (MSA) – lower Hudson Valley – have
experienced a lower rate of joblessness since December of 2007.
1
For the purposes of this report, the Hudson Valley is defined as 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.
5
Non-Farm Employment by Place of Work2
►Since the peak of the previous business cycle, employment in the Hudson Valley
has fallen by 29,100 jobs – a 2.96% decline.
Goods-producing industries reduced employment by 9,800 jobs; service-providing
industries shed 19,300 jobs.
Since December of 2007, total non-farm employment in the Hudson Valley has
fallen 2.96%, from
981,000 in
December of 2007
to 952,000 in
October of 2009.
Private
employment has
fallen from 798,500
in December of
2007 to 770,200 in
October of 2009; a
3.54% decline.
Over the same time
period, the
government
sector’s share of
total non-farm employment increased 2.67%; nationwide, the government share of nonfarm employment increased 5.76%. In New York State, the share of total employment
increased 1.81%.
Across the
Composition of Non-Farm Employment
Service
Goods
region, the largest level
Date
Gov.
Providing
Producing
Manu.
decline occurred in the
Hudson
Valley
Dec-07
18.60%
87.81%
12.19%
6.28%
service-providing sector
Jul-09
19.07%
88.36%
11.64%
5.83%
at 19,300. Employment
Oct-09
19.10%
88.47%
11.53%
5.82%
in the goods-producing
NYS
Dec-07
17.16%
89.76%
10.24%
6.15%
industries fell 9,800 with
Jul-09
17.69%
90.12%
9.87%
5.67%
the largest contractions
Oct-09
17.47%
90.34%
9.66%
5.65%
occurring in the
U.S.
Dec-07
16.37%
84.23%
15.77%
9.92%
Dutchess-Orange and the
Jul-09
16.22%
85.39%
14.50%
9.05%
Rockland-WestchesterOct-09
17.31%
85.85%
14.15%
8.85%
Putnam Metropolitan
Statistical Areas (MSAs) at 4,200 and 4,100, respectively. Overall, employment in the
goods-producing industries – which currently represents 11.53% of all non-farm
employment in the Hudson Valley has fallen 8.20% compared to a 2.24% decline in the
service providing industries. Nationwide, total non-farm employment has fallen 5.53%
2
Current Employment Statistics (CES): survey of sample employers excludes self-employed, agricultural, domestic workers and the
military. Place of Work Series.
6
from 138.9 million in December of 2007 to 132.1 million in October of the current year.
Goods-producing employment – which currently represents 14.15% of total employment
has fallen 16.64%; employment in the service-providing industries – 85.85% of current
non-farm employment– has declined 3.00%. The level changes are 3,668 and 3,528,
respectively.
Concomitant with the overall decline in the level of national and regional
employment has been a subtle shift away from goods-producing employment toward
service-providing. Between December 2007 and October of the current year, the share of
non-farm employment represented by the goods-producing industries – utilities, natural
resources, manufacturing and construction has fallen 10.27% nationwide and 5.41% in
the Hudson Valley.
Non-Farm Employment by Place of Work
and Average Weekly Wage3 Trends
► On Average, Weekly Wages Rise Relative to the 1st Quarter of 2009
In the Rockland-Westchester-Putnam, NY MSA, total non-farm employment in
the third quarter of 2009 rose relative to the near-term low reached in the first quarter of
2009.
In Putnam County, the increase in
Average Weekly Wages
non-farm employment was
Goods
Service
Nonfarm
Government
Producing
Providing
matched by an increase in the
Putnam
Average Weekly Wages (AWW)
2007.Q4
$891
$1,058
$1,098
$849
paid in the non-farm sector. Over
2008.Q2
$870
$1,314
$973
$858
the period, non-farm AWW
2009.Q1
$830
$1,144
$931
$805
increased 6.50%. In Rockland and
2009.Q2
$884
$1,374
$955
$718
Westchester counties, non-farm,
Rockland
goods-producing and service2007.Q4
$951
$985
$1,281
$889
providing AWW fell, while AWW
2008.Q2
$915
$1,117
$1,238
$860
in the government sector increased.
2009.Q1
$928
$1,029
$1,421
$845
Compared to the peak of
2009.Q2
$911
$1,112
$1,231
$782
the business cycle in December of
Westchester
2007, AWW in the government
2007.Q4
$1,249
$1,196
$1,524
$1,219
sector are up; AWW in the private
2008.Q2
$1,138
$1,349
$1,450
$1,100
sector are down. Across the MSA
2009.Q1
$1,224
$1,192
$1,523
$1,196
and on average, employment by
2009.Q2
$1,117
$1,397
$1,347
$1,025
sector has fallen more than AWW
paid in that sector. This relationship is consistent with the national data and reinforces the
notion that wages, like prices of goods and services are “sticky” on the downside. That is
to say, reductions in demand do not immediately translate into reductions in prices.
3
Average Weekly Wage data was secured through a special request of the New York State Department of Labor.
7
In the Poughkeepsie-Newburgh-Middletown, NY MSA (Dutchess and
Orange counties) non-farm employment reached a near-term low in the third quarter of
2009 and peaked in December of 2007. Employment in the service-providing industries
reached a near-term low in the first quarter of 2009: the low was retested in the third
quarter. Employment in the goods-producing industries continues to decline relative to
the peak of the business cycle in
Average Weekly Wages
December of 2007.
Goods
Service
Non-farm employment in
Nonfarm Government Producing Providing
November of 2009, improved
Orange
relative to the third quarter,
2007.Q4
$748
$934
$865
$716
increasing 1.90%.
2008.Q2
$753
$1,080
$830
$726
In Orange County, second
2009.Q1
$727
$949
$821
$694
quarter AWW in the non-farm
2009.Q2
$777
$1,123
$849
$653
sector, advanced 6.88% relative to
Dutchess
$876
$905
$1,496
$727
the first quarter of 2009. Within the 2007.Q4
2008.Q2
$884
$1,074
$1,482
$735
non-farm sector, AWW in the
2009.Q1
$902
$952
$1,707
$729
government and goods-producing
2009.Q2
$901
$1,075
$1,557
$688
sectors increased; AWW in the
service providing sector fell. In Dutchess County, second quarter AWW in the non-farm
sector were flat relative to the first quarter Within the non-farm sector, government
AWW rose 12.92%, goods-producing and service-providing AWW fell 8.79% and
5.62%, respectively.
In the Kingston, NY MSA
(Ulster County), Columbia, and
Sullivan counties, non-farm
employment and its subsectors –
service-providing and goodsproducing reached a near-term
low in the first quarter of 2009. In
contrast, non-farm employment –
including service-providing and
goods-producing – Greene
County continued to decline
relative to the peak of the business
cycle in December of 2007.
Throughout the four minor
counties, second quarter AWW in
the non-farm sector, increased
relative to the first quarter In
Greene County, the increase in
AWW is directly attributable to
the government sector. AWW in
Ulster, Columbia and Sullivan
counties increased in
Average Weekly Wages
Goods
Producing
Service
Providing
Nonfarm
Government
$694
$709
$674
$716
$876
$1,030
$920
$1,050
$834
$822
$782
$800
$650
$667
$635
$570
$644
$673
$633
$674
$780
$910
$812
$898
$884
$867
$907
$876
$511
$492
$478
$496
Columbia
2007.Q4
2008.Q2
2009.Q1
2009.Q2
$666
$647
$627
$653
$646
$717
$662
$751
$884
$779
$725
$789
$634
$613
$604
$591
Sullivan
2007.Q4
2008.Q2
2009.Q1
2009.Q2
$664
$683
$672
$679
$855
$981
$882
$984
$649
$646
$593
$634
$637
$659
$653
$562
Ulster
2007.Q4
2008.Q2
2009.Q1
2009.Q2
Greene
2007.Q4
2008.Q2
2009.Q1
2009.Q2
8
employment. With the exception of Sullivan County, the AWW are below their near-term
peak in the second quarter of 2008.
Monthly Income Maintenance Benefits (Social Assistance)
►The number of Food Stamp recipients continues to increase.
►The rate of increases slows.
In the third
quarter of 2009,
168,000 persons per
month were receiving
food stamp benefits
compared to 123,000 in
December of 2007.
Between the second
and third quarters of
2009, the number of
recipients who received
monthly food stamp
benefits increased by
10,000 or 6.32%. Over
the same time frame,
New York City
experienced an 85,000
person increase
(10.72%); in New York
State monthly food
stamp recipients
increased by 130,000
(8.80%). 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 3.90% between the second and third quarters of 2009. Since the peak
of the business cycle in December of 2007, the number of TTA recipients in the region
increased by 15.53%. Between the second and third quarters, TTA recipients in New
York State and New York City increased 1.62% and .79%, respectively.
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.
9
Home Sales, Prices and Building Permits
► 3rd Quarter homes sales were up 48.59% relative to the 2nd Quarter of 2009
Sales of existing single family homes fell 2.28% between the third quarter of 2008
and the third quarter of 2009. Over the same time period, existing home sales in New
York State declined
1.76%. Between the
second and third
quarters of the
current year, the
number of existing
single family
homes sold in the
Hudson Valley
increased 48.59%,
from 2,451 in the
second quarter to
3,642 in the third
quarter. Sales in the
third quarter of 2009 increased 119.27% relative to the first three months of the year. The
recent upturn in the residential real estate market is directly attributable to the first time
home buyers credit in concert with the actions of the Federal Reserve and U.S. Treasury
to support the market for mortgage-backed securities.
The number of homes sold peaked in the third quarter of 2004 at 6,476 units. The
average selling price of an existing single family home peaked during the third quarter of
2007 at $634,323. The lag between the peak in sales activity and the peak selling price is
directly attributable to the sales volume in high-end homes.
Each county in the region recorded a significant increase in home sales activity
between the second and third quarters. Over the same time period, the average selling
price of an existing single family home increased from its near-term low in Dutchess,
Putnam and Ulster counties. In contrast, the average selling prices in Orange and Sullivan
counties continued to decline. Median selling prices in Columbia, Orange, Sullivan and
Ulster fell relative to the second quarter of 2009, but remained above their near-term
lows. The median selling prices in Dutchess, Rockland and Westchester counties
increased relative to the second quarter. The median existing home prices in Rockland
and Westchester moved above their near-term lows recorded in the first quarter of 2009;
in Dutchess County, the third quarter median selling price at $280,000 was $10,050
above the second quarter near-term low of, $269,500.
In New York State, average and median selling prices rose in the third quarter
relative to the second quarter of 2009. In the U.S., average selling prices declined from
$273,000 in the second quarter of 2009 to $269,000 in the third quarter. The near–term
low was reached in the first quarter of 2009 at $257,000.
Weakness in the national and regional housing sectors continues to impact new
home construction. During the first ten months of 2009, across the Hudson Valley, 764
single family home construction permits were issued; 44 multi-family unit construction
10
permits were issued6. At this current rate of activity, housing construction in the region
will record a substantial year-over-year decline. It should however be noted that monthly
county-level permit data is highly unreliable. That said, while there is every indication of
a substantial contraction in new home construction, there is insufficient information to
project a range. At present, single family home construction nationwide and in New York
State is down year-over-year 35.00% and 29.08%, respectively.
Across the region, the largest multi-family project is a $23 million, 174 unit one
building complex in Yonkers, Westchester. In the town of Saugerties in Ulster County, a
building permit was issued in September of 2009 for a three-building 24-unit housing
complex. All other multi-family projects in the region are nine to two-unit one to two
building complexes. The average construction cost of the smaller projects is $405,000 per
building, $95,000 per unit.
Multi-Family Construction Permits January - October 2009 Source: U.S. Census Bureau
Number
of
Building
Number
of
Units
Value of
Construction
Permit
Average
Construction Cost
per Unit
52
$5,552,742
$106,784
County
Town/Village
Orange
Kiryas Joel Village
10
Montgomery Town
1
2
$338,722
$169,361
Montgomery Village
4
20
$2,041,664
$102,083
Wallkill Town
2
6
$784,348
$130,725
Wawayanda Town
1
5
$409,657
$81,931
18
85
$9,127,133
$107,378
Fallsburg Town
5
10
$373,026
$37,303
Thompson Town
2
4
$130,000
$32,500
7
14
$503,026
$ 35,930
Spring Valley Village
1
2
$240,000
$120,000
Kaser Village
1
7
$663,194
$94,742
Ramapo Town
3
7
$1,075,200
$153,600
5
16
$1,978,394
$123,650
Yonkers
3
174
$22,978,550
$132,061
White Plains
1
6
$600,000
$100,000
4
180
$23,578,550
$130,992
Saugerties Town
3
26
$1,709,180
$65,738
Shawangunk Town
1
2
$260,000
$130,000
4
28
$1,969,180
$70,328
Sullivan
Rockland
Westchester
Ulster
6
U.S. Census Bureau
11
Regional Inflation
► Energy, Gasoline prices fall
►All item CPI records a year-over-year decline of .86
The all item
CPI (prices of all
goods and services)
in the New YorkNorthern New
Jersey-Long Island
Metropolitan
Statistical Area
(MSA) declined
.86% between the
third quarter of 2009
and the third quarter
of 2008, compared
to a 1.63% year-over-year decline in the U.S. City Average all item CPI Index.
New York-Northern NJ- Long Island
2009
2009
2009
2008
Oct-09
Q3
Q2
Q1
Q4
Oct-09
U.S. City Average
2009
2009
2009
Q3
Q2
Q1
2008
Q4
Core
1.30%
1.40%
2.32%
2.62%
2.96%
1.70%
1.51%
1.83%
1.74%
1.99%
All Items
0.00%
-0.86%
0.33%
1.30%
2.69%
-0.20%
-1.63%
-1.33%
-0.07%
1.60%
Food
Rent Primary
Residence
Owners’ Equivalent
Rent
-0.40%
0.80%
3.07%
5.53%
6.54%
-0.60%
0.37%
2.70%
4.83%
6.06%
2.10%
3.13%
5.10%
5.37%
5.52%
1.21%
1.97%
2.93%
3.30%
3.56%
1.30%
2.00%
3.13%
3.47%
3.47%
1.20%
1.57%
2.03%
2.13%
2.27%
Household Energy
-7.60%
-13.66%
-9.98%
0.19%
6.86%
-8.50%
-12.27%
-8.17%
Gasoline
-16.10%
-29.73%
-37.53%
-38.73%
-18.53%
-17.90%
-32.33%
-37.83%
2.54%
38.43%
7.92%
20.17%
Medical
1.80%
0.46%
0.49%
0.10%
1.13%
3.50%
3.33%
3.13%
2.73%
3.13%
Services
1.10%
1.13%
2.40%
3.43%
3.70%
0.90%
0.70%
1.55%
2.60%
3.24%
12 Month Quarterto-Quarter
Percentage Change
In the New York region, the price of food increased .80% compared to a .37% in the
All City Average. Similarly, the year-over-year regional change in prices for owners’
equivalent rent and rent of a primary residence increased at a faster pace than the change in
prices in the U.S. City Average. The price of regional services recorded a year-over-year
increase of 1.23% compared to a .70% advance in the U.S. City Average. In contrast, the price
of household energy fell at a quicker pace and the cost of medical goods and services increased
at a slower pace than the U.S. City Average. Across the region, Core Inflation – all items less
food and energy–increased 1.40% between the third quarter of 2009 and the third quarter of
12
2008. Over the same time period, Core Inflation in the U.S. City Average advanced 1.51%
year-over-year. Historically, food and housing have the largest impact on the typical household
budget at 30% of total personal expenditures, followed by medical costs at 18% of total
personal expenditures.
Sales Tax Collection
►Sales Tax Collection Begins to Rebound.
One
indicator of retail
sales activity is
sales tax collection.
Across the region,
total sales tax
collection
increased 3.49%
between the second
and third quarters
of 2009. The only
county that
witnessed a
reduction in sales
tax collection was
Columbia County at
3.79%. Year-overyear, total sales tax
collections are
down 10.99%. The
largest percentage
decline occurred in
Greene County at
16.79%; the
smallest percentage
declines occurred in
Rockland at 6.30%
followed by Orange County and Ulster County at 9.28% and 9.56%, respectively.
Ω
13
Labor Force, Employment and the Unemployment Rate for Hudson Valley Counties
Average Quarterly
2008.Q3 - 2009.Q3
% Change
County
3rd
2nd
1st
4th
3rd
Dec-07
12-07 and 3Q
% Change
From Peak
Columbia
Labor Force
Employment
Unemployment rate
32,276
29,851
7.50%
31,965
29,597
7.41%
31,108
28,683
7.80%
31,329
29,668
5.30%
32,637
31,055
4.85%
31,207
29,855
5.90%
3.43%
-0.01%
27.12%
-1.11%
-3.88%
-3.85%
Dutchess
Labor Force
Employment
Unemployment rate
147,954
136,044
8.07%
147,577
136,569
7.46%
146,743
135,592
7.60%
146,713
138,435
5.64%
148,195
140,244
5.37%
147,794
142,049
3.90%
0.11%
-4.23%
106.92%
-0.16%
-4.23%
0.00%
Greene
Labor Force
Employment
Unemployment rate
24,487
22,478
8.23%
24,015
21,927
8.73%
24,447
22,286
8.80%
23,811
22,216
6.70%
24,850
23,432
5.70%
24,202
22,970
5.10%
1.18%
-2.14%
61.37%
-1.46%
-4.07%
-6.48%
Orange
Labor Force
Employment
Unemployment rate
181,788
166,885
8.23%
181,939
167,530
7.93%
180,463
166,333
7.87%
180,561
169,819
5.97%
182,294
172,039
5.60%
178,558
171,049
4.20%
1.81%
-2.43%
95.95%
-0.28%
-3.00%
0.00%
Putnam
Labor Force
Employment
Unemployment rate
57,103
53,163
6.93%
56,634
52,913
6.57%
55,955
52,295
6.57%
56,038
53,318
4.83%
57,220
54,513
4.73%
56,380
54,534
3.30%
1.28%
-2.51%
110.00%
-0.21%
-2.51%
0.00%
Rockland
Labor Force
Employment
Unemployment rate
157,841
146,228
7.37%
156,412
145,541
6.97%
154,145
143,841
6.70%
154,740
146,655
5.23%
158,126
149,941
5.17%
152,444
146,690
3.80%
3.54%
-0.31%
93.95%
-0.18%
-2.48%
0.00%
Sullivan
Labor Force
Employment
Unemployment rate
36,918
33,931
8.10%
35,712
32,646
8.57%
35,016
31,463
9.77%
35,396
32,777
7.40%
37,139
34,914
6.00%
34,973
32,970
5.60%
5.56%
2.91%
44.64%
-0.60%
-2.82%
-17.09%
Ulster
Labor Force
Employment
Unemployment rate
91,748
84,329
8.10%
91,726
84,777
7.74%
90,204
83,017
7.97%
90,115
84,734
5.97%
91,150
85,924
5.73%
92,391
88,385
4.30%
-0.70%
-4.59%
88.37%
-0.70%
-4.59%
0.00%
Source: New York State Dept. of Labor Place of Residence Series
C
Compiled
il d by
b the
th Marist
M i t College
C ll
Bureau
B
off Economic
E
i Research,
R
h School
S h l off Management,
M
t Marist
M i t College
C ll
14
1/3/2010
Labor Force, Employment and the Unemployment Rate for Hudson Valley Counties
Average Quarterly 2008.Q3 - 2009.Q3
% Change
County
3rd
2nd
1st
4th
3rd
Dec-07
12-07 and 3Q
% Change
From Peak
Westchester
Labor Force
Employment
Unemployment rate
502,875
465,972
7.33%
498,721
463,784
7.00%
493,624
458,365
7.13%
493,786
467,332
5.33%
503,320
477,803
5.07%
485,933
467,908
3.70%
3.49%
-0.41%
98.11%
-0.09%
-2.48%
0.00%
Lower Hudson Valley
Labor Force
Employment
Unemployment rate
717,819
665,363
7.21%
711,768
662,238
6.85%
703,724
654,501
6.80%
704,564
667,305
5.13%
718,667
682,256
4.99%
694,757
669,132
3.60%
3.32%
-0.56%
100.28%
-0.12%
-2.48%
0.00%
Labor Force
Employment
515,171
473,518
512,934
473,045
507,980
467,375
507,925
477,650
516,265
487,609
509,125
487,278
1.19%
-2.82%
-0.21%
-2.89%
Unemployment rate
8.04%
7.97%
8.30%
6.16%
5.54%
4.83%
66.31%
-3.17%
Total Hudson Valley
Labor Force
Employment
Unemployment rate
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%
1,234,932
1,169,865
5.27%
1,203,882
1,156,410
3.94%
2.42%
-1.52%
93.65%
-0.16%
-2.65%
0.00%
Albany-Schenectady-Troy
Labor Force
Employment
Unemployment rate
457,547
425,174
7.10%
459,134
427,300
6.93%
456,197
422,844
7.33%
454,556
430,170
5.37%
462,837
439,744
5.00%
449,812
431,374
4.10%
1.72%
-1.44%
73.17%
-1.14%
-3.31%
-3.14%
New York City
Labor Force
Employment
Unemployment rate
4,051,400
3,642,200
10.1%
4,003,160
3,658,637
8.60%
3,987,673
3,670,122
7.97%
3,980,255
3,714,793
6.70%
3,973,498
3,739,395
5.87%
3,872,009
3,672,236
5.20%
4.63%
-0.82%
94.23%
0.00%
-2.60%
0.00%
New York State
Labor Force
Employment
Unemployment rate
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%
9,769,982
9,224,597
5.60%
9,536,673
9,087,015
4.70%
2.97%
-1.34%
91.28%
0.00%
-2.81%
0.00%
U.S. (seasonally adjusted)
Labor Force
Employment
Unemployment rate
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%
154,650,000
145,299,333
6.07%
153,836,000
146,294,000
4.9%
0.34%
-4.63%
96.60%
-0.36%
-4.63%
0.00%
Putnam-Rockland-Westchester
Upper Hudson Valley
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
15
1/3/2010
Employment Data by Industry: Levels
CES Data (Data in 1000's)
United States
Oct-09
Total Government
MSAs
Rockland/Westchester/
Putnam
Dutchess/Orange
Dec-07
22,877.0 22,738.0
Oct-09
Dec-07
Oct-09
Dec-07
95.5
97.5
53.3
52.4
Minor Counties
Columbia
Oct-09
5.1
Greene
Dec-07
5.3
Oct-09
4.9
Sullivan
Dec-07
4.8
Oct-09
6.8
Ulster
Dec-07
6.7
Oct-09
Dec-07
16.2
15.8
Federal Government
2,855.0
2,757.0
5.4
5.5
6.6
6.4
0.5
0.5
State Government
5,343.0
5,242.0
14.5
14.2
9.2
9.6
4.7
4.8
14,679.0 14,739.0
75.6
77.8
37.5
36.4
11.0
10.5
8,385.0
42.2
45.5
24.6
23.3
6.1
6.3
Goods Producing
18,700.0 21,904.0
66.9
71.0
29.7
33.9
2.4
2.9
1.6
1.9
2.8
2.8
6.4
7.1
Service-Providing
113,443.0 116,971.0
508.2
522.2
223.1
223.6
18.1
18.7
12.6
13.6
23.7
23.6
56.5
57.2
Manufacturing
11,778.0 13,776.0
29.3
31.7
18.6
22.0
1.5
1.8
0.9
1.0
1.4
1.4
3.7
4.2
Trade, Transportation, and Utilities
25,135.0 27,379.0
105.7
116.4
55.6
56.1
3.7
3.9
2.9
3.3
4.3
4.5
12.0
13.4
Local Government
Local Government Education
8,278.4
Wholesale Trade
5,674.4
6,053.7
23.6
24.8
9.3
9.8
1.3
1.4
Transportation and Warehousing
4,217.1
4,612.6
13.3
18.9
8.5
9.0
1.7
1.9
14,675.4 16,156.4
64.5
72.7
36.6
36.1
9.0
10.1
Retail Trade
Information
2,822.0
3,039.0
14.7
16.2
4.5
4.6
0.3
0.3
0.2
0.2
0.3
0.3
0.9
1.1
Financial Activities
7,699.0
8,232.0
35.5
36.9
8.8
9.5
0.6
0.6
0.4
0.4
1.3
1.2
2.5
2.7
Finance and Insurance
5,711.0
6,078.5
23.7
24.8
6.0
6.7
Professional and Business Services
16,870.0
7,839.9
71.0
73.8
21.0
21.2
1.5
1.7
0.5
0.6
1.4
1.4
4.4
4.4
Leisure and Hospitality
13,095.0 13,244.0
41.9
42.7
18.9
19.5
1.4
1.6
2.0
2.5
4.3
2.8
6.9
6.8
Data Source: New York State Department of Labor
Complied by: Marist College SOM, Bureau of Economic Research
1/3/2010
16
Employment Data by Industry: Percent of Non-Farm Employment
CES Data
United States
Oct-09
Total Government
Dec-07
MSAs
Rockland/Westchester/
Putnam
Dutchess/Orange
Oct-09
Dec-07
Oct-09
Dec-07
17.45%
16.37%
16.71%
16.44%
21.08%
20.15%
Federal Government
2.18%
1.99%
0.94%
0.93%
2.61%
State Government
4.07%
3.77%
2.53%
2.39%
Local Government
11.20%
10.61%
13.24%
6.31%
6.04%
Goods Producing
14.26%
Service-Providing
Minor Counties
Columbia
Oct-09
Dec-07
3.64%
3.69%
7.47%
7.47%
13.12%
14.83%
13.99%
17.49%
16.33%
6.45%
7.67%
9.73%
8.96%
9.70%
9.79%
15.70%
11.72%
11.97%
11.75%
13.03%
11.71%
13.43%
11.27%
12.33%
10.57%
10.60%
10.17%
11.02%
86.52%
84.23%
88.29%
88.03%
88.25%
86.97%
88.29%
86.57%
88.73%
88.30%
89.43%
89.39%
89.83%
88.90%
8.98%
9.92%
5.13%
5.34%
7.36%
8.30%
7.31%
8.33%
6.34%
6.49%
5.28%
5.30%
5.88%
6.53%
19.17%
19.71%
18.20%
19.62%
21.99%
22.71%
18.05%
18.06%
20.42%
21.42%
16.22%
17.04%
19.08%
20.83%
Wholesale Trade
4.33%
4.36%
4.12%
4.18%
3.68%
3.88%
2.07%
2.18%
Transportation and Warehousing
3.22%
11.63%
2.15%
3.19%
3.36%
4.08%
2.70%
2.95%
Retail Trade
11.19%
3.32%
11.20%
12.26%
14.48%
14.99%
14.31%
15.70%
Information
2.15%
2.19%
2.58%
2.73%
1.78%
1.77%
1.46%
1.39%
1.30%
0.75%
0.76%
1.43%
1.71%
Financial Activities
5.87%
5.93%
6.26%
6.22%
3.48%
3.77%
2.93%
2.78%
2.59%
4.53%
5.30%
3.97%
4.20%
Finance and Insurance
4.36%
4.38%
413.00%
4.18%
2.37%
2.58%
12.87%
5.65%
12.44%
12.44%
8.31%
8.15%
7.32%
7.87%
3.52%
3.89%
5.28%
5.68%
7.00%
6.84%
9.99%
9.54%
7.94%
7.20%
7.48%
7.50%
6.83%
7.41%
14.08%
16.23%
10.57%
9.09%
10.97%
10.57%
Data Source: New York State Department of Labor
Complied By: Marist College, SOM, Bureau of Economic Research
25.38%
Oct-09
0.01%
Leisure and Hospitality
25.66%
Dec-07
0.79%
Professional and Business Services
31.17%
Oct-09
2.46%
Trade, Transportation, and Utilities
34.51%
Dec-07
Ulster
24.57%
Manufacturing
24.54%
Oct-09
Sullivan
25.76%
Local Government Education
24.88%
Dec-07
Greene
1/4/2010
17
Dutchess and Orange Counties: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data
(numbers 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
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.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Oct-09
251.4
248.9
252.8
248.1
258.1
254.4
199.5
197.5
198.2
195.7
205.0
203.7
53.3
50.6
53.2
53.2
53.1
50.7
6.6
6.6
6.5
6.5
6.5
6.6
9.2
9.3
9.4
9.5
9.6
9.8
37.5
34.7
37.3
37.2
37.0
34.4
24.6
20.7
23.8
23.8
24.0
20.4
29.7
30.3
30.4
30.0
32.4
35.0
223.1
219.2
221.0
218.9
225.7
221.2
169.8
167.2
167.8
165.7
172.5
170.5
53.3
52.0
53.2
53.2
53.1
50.7
18.6
18.8
21.1
21.1
21.7
22.0
55 6
55.6
54 4
54.4
54 4
54.4
54 5
54.5
57 8
57.8
56 0
56.0
9.3
9.3
9.3
9.2
9.6
9.7
8.5
8.1
8.5
8.5
9.0
8.8
36.6
35.8
35.5
35.7
38.0
36.3
7.1
7.1
7.1
7.1
7.2
7.3
5.1
5.0
4.9
5.0
4.9
5.3
5.5
5.7
5.7
5.8
5.9
5.8
4.5
4.5
4.5
4.5
4.7
4.7
8.8
9.1
9.1
9.4
9.4
9.6
6.0
6.1
6.1
6.2
6.4
6.4
21.0
21.0
21.1
20.9
21.6
21.7
13.5
10.7
12.0
11.9
12.4
10.1
37.9
37.4
37.5
37.1
37.3
36.1
8.8
8.8
8.7
8.7
8.8
8.9
18.9
20.3
19.6
18.1
19.5
21.7
15.6
16.5
16.0
15.0
15.9
17.1
Source: NY State Department of Labor-Current Employment Survey
Compiled by Bureau of Economic Research, Marist College
18
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
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
10-09 and near
term low
1.89%
1.01%
5.34%
3.12%
0.00%
9.11%
18.84%
0.00%
1.93%
1.56%
2.50%
0.00%
2 21%
2.21%
1.09%
4.94%
3.10%
0.00%
4.72%
0.00%
0.00%
-3.30%
0.00%
0.33%
33.27%
5.04%
1.15%
4.42%
4.00%
Percent change
10-09 and peak
of last Business
Cycle
-2.81%
-3.95%
1.72%
3.12%
-4.17%
3.02%
5.58%
-12.39%
-1.37%
-2.30%
1.72%
-13.89%
-5.87%
5 87%
-7.92%
-19.81%
-6.15%
-2.74%
-10.53%
-16.67%
-2.17%
-10.20%
-10.45%
-0.94%
16.38%
3.27%
-1.12%
-3.08%
-2.50%
1/4/2010
Rockland, Westchester, and Putnam Counties: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (,000)
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
Oct. 09
575.1
479.6
95.5
5.4
14.5
75.6
42.2
66.9
508.2
412.7
95.5
29.3
105.7
23.6
13.3
64.5
14.3
7.8
9
14.7
35.5
23.7
71
26.6
92
19.5
41.9
32.2
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
2009:03
573.2
477.5
95.8
5.4
14.5
75.9
37.0
67.2
506.1
410.3
95.8
29.4
104.3
23.6
12.3
64.2
14.5
7.6
8.8
14.8
35.9
23.7
71.3
22.7
90.9
19.5
45.5
33.1
2009:02
575.4
477.0
98.4
5.6
14.4
78.4
45.4
66.1
509.3
410.9
98.4
29.6
105.2
23.7
17.5
64.0
14.5
7.5
8.9
15.1
35.7
23.7
71.3
24.8
90.7
19.3
43.3
32.2
2009:01
564.9
468.1
96.8
5.5
14.2
77.1
44.8
64.3
500.6
403.8
96.8
29.8
105.4
23.5
17.5
64.3
14.6
7.9
9.0
15.1
35.4
23.7
69.0
25.1
89.7
19.3
39.6
30.7
19
2008:04
587.0
489.4
97.6
5.5
14.3
77.8
45.3
69.4
517.6
420.0
97.6
30.7
111.4
24.2
18.2
69.0
15.0
9.1
10.3
15.6
36.1
24.0
73.3
25.7
90.4
19.5
42.7
32.2
2008:03
575.8
486.7
97.0
5.5
14.5
77.0
40.1
69.9
513.8
416.8
97.0
30.8
107.5
24.3
17.1
66.1
14.8
8.7
9.7
15.8
36.6
24.3
74.6
21.9
89.0
19.4
46.9
32.3
2008:02
575.9
486.9
98.7
5.6
14.5
78.6
45.5
68.9
516.7
418.0
98.7
30.9
109.4
24.5
18.5
66.4
14.9
8.7
9.7
15.9
36.5
24.6
73.9
23.8
89.2
19.1
44.6
32.4
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
10-09 and near
term low
1.80%
2.46%
0.00%
0.62%
2.11%
0.00%
14.05%
4.04%
1.51%
2.20%
0.00%
0.00%
1.34%
0.43%
8.13%
0.78%
0.00%
4.00%
2.27%
0.00%
0.28%
0.00%
2.90%
21.46%
3.60%
3.17%
5.81%
4.89%
Percent change
10-09 and peak
of last Business
Cycle
-3.05%
-3.25%
-2.05%
-1.82%
2.11%
-2.83%
-7.25%
-5.77%
-2.68%
-2.83%
-2.05%
-7.57%
-9.19%
-4.84%
-29.63%
-11.28%
-4.67%
-25.71%
-23.08%
-9.26%
-3.79%
-4.44%
-3.79%
6.83%
3.60%
3.17%
-1.87%
-0.92%
1/3/2010
Columbia County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (,000)
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,
Trade Transportation,
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
2009.Q1
2008.Q4
2008.Q3
Oct. 2009
2009.Q3 2009.Q2
20.5
21.0
20.9
20.1
21.2
21.6
15.4
16.0
15.8
15.1
16.1
16.7
5.1
5.0
5.0
4.9
5.0
5.0
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
Dec-07
21.6
16.2
5.3
Percent change 10- Percent change 1009 and near term 09 and peak of last
low
Business Cycle
1.99%
1.99%
4.08%
-5.09%
-4.94%
-3.77%
2.4
18.1
13
5.1
1.5
3.7
37
2.6
18.4
13.5
4.9
1.5
3.7
37
2.5
18.3
13.3
5.0
1.5
3.8
38
2.5
17.6
12.7
4.9
1.6
3.7
37
2.8
18.4
13.4
5.0
1.7
3.8
38
2.9
18.8
13.8
5.0
1.7
3.8
38
2.9
18.7
13.4
5.3
1.8
3.9
39
0.00%
2.84%
2.36%
4.08%
0.00%
0.00%
0 00%
-17.24%
-3.21%
-2.99%
-3.77%
-16.67%
-5.13%
5 13%
0.9
0.3
0.6
1.1
0.3
0.6
1.0
0.3
0.6
0.9
0.3
0.5
1.1
0.3
0.6
1.2
0.3
0.6
1.1
0.3
0.6
0.00%
0.00%
20.00%
-18.18%
0.00%
0.00%
1.5
4.5
1.5
4.5
1.5
4.5
1.4
4.4
1.6
4.5
1.6
4.4
1.7
4.3
7.14%
4.65%
-11.76%
4.65%
1.4
1.9
1.7
1.3
1.6
2.1
1.6
7.69%
-12.50%
20
1/4/2010
Greene County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data (Data in 1000's - data in red near- term low)
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
Manufacturingg
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
Oct. 2009
14.2
9.3
4.9
2009:03
14.8
9.93
4.87
1.6
12.6
7.7
4.9
0.9
2.9
2009:02
2009:01
2008:04
2008:03
2008:02
14.4
9.7
4.7
14.9
10.2
4.7
14.8
10.1
4.7
15.4
10.7
4.7
14.9
10.2
4.7
Dec-07
15.4
10.7
4.8
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
2.0
13.4
8.7
4.7
1.1
3.2
1.9
13.0
8.3
4.7
1.1
3.2
0.7
0.2
0.4
0.7
0.2
0.4
0.6
0.2
0.4
0.5
0.2
0.4
0.9
0.2
0.4
0.9
0.2
0.4
0.5
1.3
0.5
1.2
0.5
1.3
0.5
1.3
0.6
1.3
2
2.4
2.1
2.8
2.2
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
21
Percent change 1009 and near term
low
Percent change 1009 and peak of last
Business Cycle
-4.70%
-8.82%
4.26%
-7.79%
-13.08%
2.08%
1.9
13.6
8.8
4.8
1.0
3.3
6.67%
0.00%
0.00%
4.26%
0.00%
0.00%
-15.79%
-7.35%
-12.50%
2.08%
-10.00%
-12.12%
0.8
0.2
0.4
0.9
0.2
0.4
40.00%
0.00%
0.00%
-22.22%
0.00%
0.00%
0.6
1.3
0.6
1.3
0.6
1.4
0.00%
5.69%
-16.67%
-7.14%
2.6
2.1
2.5
0.00%
-20.00%
1/4/2010
Sullivan County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data
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
Trade, Transportation,
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
2009:Q1
2008:Q4
2008:Q3
2008:Q2
Oct. 2009 2009:Q3 2009:Q2
26.5
27.57
26.4
25.1
26.7
28.1
26.9
19.7
21.10
19.6
18.5
20.0
21.6
20.1
6.8
6.47
6.8
6.6
6.7
6.6
6.8
Dec-07
26.4
19.7
6.7
Percent change
Percent change Q3-09 and peak
Q3-09 and near of last Business
term low
Cycle
5.58%
6.49%
3.03%
4.42%
7.11%
-3.43%
2.8
23.7
16.9
6.8
1.4
44.33
2.87
24.70
18.23
6.47
1.40
44.37
37
2.7
23.7
16.9
6.8
1.4
44.33
2.4
22.7
16.1
6.6
1.3
44.22
2.7
24.1
17.3
6.8
1.3
44.55
2.8
25.4
18.8
6.6
1.3
44.66
2.7
24.2
17.4
6.8
1.3
44.44
2.8
23.6
16.9
6.7
1.4
44.55
19.44%
8.81%
13.25%
-2.02%
7.69%
44.05%
05%
2.38%
4.66%
7.89%
-3.48%
0.00%
2 89%
-2.89%
1.4
0.2
1.2
1.47
0.27
1.27
1.3
0.2
1.3
1.1
0.2
1.3
1.4
0.2
1.3
1.5
0.3
1.4
1.4
0.2
1.4
1.4
0.2
1.4
33.64%
35.00%
-2.31%
5.00%
35.00%
-9.29%
1.4
5.8
1.40
5.70
1.4
5.7
1.4
5.6
1.5
5.8
1.5
5.7
1.5
5.7
1.5
5.7
0.00%
1.79%
-6.67%
0.00%
2.8
3.97
2.8
2.2
2.7
3.9
2.8
2.4
80.45%
65.42%
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
22
1/4/2010
Ulster County: Employment Data by Industry: CES Data
Quarterly Data are Averages of Monthly Data
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
Manufacturingg
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
Oct. 2009
62.9
46.7
16.2
0.5
4.7
11
6.1
6.4
56.5
40.3
16.2
3.7
12
1.3
1.7
9
2009:03
62.10
46.63
15.47
0.40
4.70
10.37
5.17
6.47
55.63
40.17
15.5
3.70
11.9
1.3
1.5
9.1
2009:02
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
2009:01
61.3
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
2008:04
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
2008:03
62.5
47.8
14.6
0.5
4.6
9.5
5.0
6.9
55.6
40.9
14.7
4.0
12.3
1.4
1.6
9.3
2008:02
64.0
48.1
15.9
0.5
4.9
10.5
6.3
6.9
57.1
41.3
15.8
4.1
12.6
1.4
1.8
9.3
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
2.7
0.9
2.5
2.8
1.0
2.5
2.7
1.0
2.5
2.5
1.0
2.5
2.8
1.0
2.6
2.9
1.0
2.7
2.8
1.0
2.6
4.4
11.1
4.3
10.6
4.6
10.6
4.1
10.5
4.1
10.6
4.2
10.4
6.9
7.3
7.1
6.5
7.1
7.6
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
23
Percent change
Percent change Q3-09 and peak
10-09 and near of last Business
term low
Cycle
1.31%
2.94%
-2.11%
-20.00%
-2.08%
-1.27%
-17.99%
2.65%
1.52%
2.99%
-2.11%
-2.63%
0.00%
0.00%
-11.76%
2.25%
-3.42%
-3.85%
-2.11%
-20.00%
-2.08%
-1.27%
-17.99%
-8.92%
-2.74%
-2.98%
-2.11%
-11.90%
-11.19%
-7.14%
-21.05%
-9.90%
2.9
1.1
2.7
10.80%
-3.00%
0.00%
-4.48%
-11.82%
-7.41%
4.7
10.4
4.4
10.3
5.61%
0.67%
-1.59%
2.62%
7.3
6.8
12.77%
7.79%
1/3/2010
Total U.S. NonFarm Employees
(Seasonally Adjusted in Thousands)
Month
2009
2008
2007
2006
2005
2004
Jan
F b
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
134,333
133 652
133,652
133,000
132,481
132,178
131,715
131,439
131,223
131,038
130,848
138,080
137 936
137,936
137,814
137,654
137,517
137,356
137,228
137,053
136,732
136,352
135,755
135,074
137,180
137 216
137,216
137,400
137,435
137,591
137,645
137,580
137,552
137,652
137,817
138,032
138,152
135,155
135 429
135,429
135,711
135,862
135,886
135,956
136,142
136,291
136,438
136,520
136,781
137,000
132,499
132 720
132,720
132,841
133,153
133,365
133,624
133,946
134,136
134,223
134,321
134,701
134,861
130,420
130 463
130,463
130,801
131,051
131,361
131,442
131,489
131,610
131,770
132,121
132,185
132,317
g
Average
% Change
,
132,191
-3.54%
,
137,046
-0.41%
,
137,604
1.11%
,
136,098
1.79%
,
133,699
1.73%
,
131,419
1.09%
2005
2004
Monthly Changes in LABSTAT Series Report
(in Thousands)
Period
2009
2008
Jan-Feb
Feb-Mar
Mar-Apr
Apr-May
May-Jun
Jun-Jul
Jul-Aug
Aug-Sep
Sep-Oct
Oct-Nov
Nov-Dec
Dec-Jan
(681)
(652)
(519)
(303)
(463)
(276)
(216)
(185)
(190)
(144)
(122)
(160)
(137)
(161)
(128)
(175)
(321)
(380)
(597)
(681)
(
)
(741)
Total
Average
(3,485)
(387)
(3,747)
(312)
2007
36
184
35
156
54
(65)
(28)
100
165
215
120
(150)
822
69
2006
274
282
151
24
70
186
149
147
82
261
219
180
221
121
312
212
259
322
190
87
98
380
160
294
43
338
250
310
81
47
121
160
351
64
132
182
2,025
169
2,656
221
2,079
173
*All numbers have been adjusted for recent changes
Source: U.S. Bureau of Labor Statistics.
Compiled by Bureau of Economic Research, Marist College.
1/4/2010
24
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
2002
2003
2004
2005
NYC
2006
NYS
2007
2008
2009
USA
Length of Average Work Week for Manufacturing Workers
43
42
NYS
41
Hours
40
USA
39
38
37
NYC
36
35
34
2002
2003
2004
2005
2006
NYC
NYS
2007
2008
2009
USA
Source: Bureau of Labor Statistics
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
25
1/4/2010
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
2009
39.0
38.2
38.5
38.6
39.3
38.7
38.8
38.2
38.9
39.6
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
2002
36.6
36.8
37.3
36.8
36.7
37.6
38.0
37.8
37.6
36.5
37.3
38.7
New York State**
January
February
March
April
May
June
July
August
September
October
November
December
2009
37.8
38.4
38.4
37.9
38.7
39.6
38.8
39.2
40.1
40.5
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
2002
39.8
40.3
40.6
40.2
40.5
40.3
39.6
40.0
40.6
40.4
40.6
41.1
United States*
January
February
March
April
May
June
July
August
September
October
November
December
2009
39.8
39.5
39.4
39.6
39.4
39.5
39.8
39.8
39.9
40.0
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
2002
40.2
40.3
40.6
40.5
40.6
40.7
40.4
40.5
40.5
40.3
40.4
40.5
41.2
41.3
41.1
Seasonly Adjusted*
Not Seasonly Adjusted**
Source: Bureau of Labor Statistics
Compiled by Bureau of Economic Research, Marist College
26
1/4/2010
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
2009
$16.38
$16.54
$16.90
$16.89
$17.08
$18.44
$16.10
$16.47
$16.29
$16.24
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
2002
$13.00
$12.74
$12.92
$13.43
$13.32
$12.74
$12.73
$13.00
$12.97
$13.40
$13.31
$13.26
New York State
January
February
March
April
May
June
July
August
September
October
November
December
2009
$18.09
$18.33
$18.24
$18.51
$18.44
$18.45
$18.65
$18.14
$18.90
$18.69
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
2002
$16.65
$16.81
$16.84
$17.00
$16.71
$16.62
$16.39
$16.64
$16.77
$16.68
$17.00
$16.85
United States
January
February
March
April
May
June
July
August
September
October
November
December
2009
$17.99
$18.07
$18.10
$18.11
$18.11
$18.13
$18.28
$18.26
$18.35
$18.35
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
2002
$15.05
$15.12
$15.15
$15.17
$15.23
$15.27
$15.27
$15.34
$15.38
$15.45
$15.48
$15.55
Seasonly Adjusted*
Not Seasonly Adjusted**
Source: Bureau of Labor Statistics
Compiled by Bureau of Economic Research, Marist College
27
1/4/2010
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
2009
$638.82
$631.83
$650.65
$651.95
$671.24
$713.63
$624.68
$629.15
$633.68
$643.10
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
2002
$475.80
$468.83
$481.92
$494.22
$488.84
$479.02
$483.74
$491.40
$487.67
$489.10
$496.46
$513.16
New York State
January
February
March
April
May
June
July
August
September
October
November
December
2009
$683.80
$703.87
$700.42
$701.53
$713.63
$730.62
$723.62
$711.09
$757.89
$756.95
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
2002
$662.67
$677.44
$683.70
$683.40
$676.76
$669.79
$649.04
$665.60
$680.86
$673.87
$690.20
$692.54
United States
January
February
March
April
May
June
July
August
September
October
November
December
2009
$716.00
$713.77
$713.14
$717.16
$713.53
$716.14
$727.54
$726.75
$732.17
$734.00
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
2002
$605.01
$609.34
$615.09
$614.39
$618.34
$621.49
$616.91
$621.27
$622.89
$622.64
$625.39
$629.78
Seasonly Adjusted*
Not Seasonly Adjusted**
Source: Bureau of Labor Statistics
Compiled by Bureau of Economic Research, Marist College
28
1/4/2010
Food Stamps - Recipients
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
12,710
12,159
11,201
10,176
9,626
Dutchess
50,670
47,465
43,851
40,585
38,161
Greene
14,139
13,588
12,737
11,676
10,971
Orange
93,845
90,086
85,431
80,612
77,192
Putnam
4,581
4,181
3,599
3,272
3,156
Rockland
87,677
83,066
78,685
74,741
72,357
Sullivan
26,470
25,623
24,179
22,484
21,375
Ulster
44,929
41,931
38,500
35,002
32,464
Westchester
168,186
156,966
147,683
140,205
135,199
Hudson Valley Total
503,207
475,065
445,866
418,753
400,501
4,675,680
4,420,075
4,173,053
3,997,391
3,834,798
7542569
7,150,986
6,753,702
6,425,652
6,160,053
New York City
New York State
Quarterly Percentage Change
Counties
2009.Q3
2009 Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
4.53%
8.55%
10.07%
5.71%
-0.07%
Dutchess
6.75%
8.24%
8.05%
6.35%
4.16%
Greene
4.06%
6.68%
9.09%
6.43%
2.72%
Orange
4.17%
5.45%
5.98%
4.43%
3.62%
Putnam
9.57%
16.17%
9.99%
3.68%
2.40%
Rockland
5.55%
5.57%
5.28%
3.29%
3.09%
Sullivan
3.31%
5.97%
7.54%
5.19%
0.77%
Ulster
7.15%
8.91%
9.99%
7.82%
2.90%
Westchester
7.15%
6.29%
5.33%
3.70%
3.68%
Hudson Valley Total
5.92%
6.55%
6.47%
4.56%
3.25%
New York City
5.78%
5.92%
4.39%
4.24%
4.09%
New York State
5.48%
5.88%
5.11%
4.31%
3.38%
Data: New York State Office of Temporary and Disability Assistance
29
Compiled by: Bureau of Economic Research, Marist College
1/4/2010
Food Stamps - Expenditures
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
$1,856,871
$1,777,138
$1,375,879
$1,208,472
$946,781
Dutchess
$7,397,906
$6,998,023
$5,472,870
$4,959,761
$3,917,032
Greene
$2,005,684
$1,928,537
$1,547,226
$1,369,629
$1,087,200
Orange
$13,894,427
$13,227,481
$10,909,120
$9,893,473
$8,076,709
Putnam
$628,940
$602,005
$439,154
$380,871
$263,890
$12,549,551
$11,945,796
$9,693,808
$8,985,893
$7,392,847
Sullivan
$3,752,947
$3,660,263
$2,953,118
$2,706,723
$1,975,314
Ulster
$6,425,981
$6,018,236
$4,705,095
$4,240,875
$3,256,764
Westchester
$24,775,050
$23,188,773
$18,662,820
$17,377,851
$14,385,006
Hudson Valley Total
$73,287,357
$69,346,252
$55,759,090
$51,123,548
$41,301,543
Rockland
New York City
New York State
$747,399,332
$708,030,390
$1,153,163,927 $1,098,281,437
$573,260,819
$551,324,204
$440,140,484
$886,557,861
$838,063,751
$673,024,461
Quarterly Percentage Change
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
4.49%
29.16%
13.85%
27.64%
0.57%
Dutchess
5.71%
27.87%
10.35%
26.62%
3.41%
Greene
4.00%
24.64%
12.97%
25.98%
3.41%
Orange
5.04%
21.25%
10.27%
22.49%
2.67%
Putnam
4.47%
37.08%
15.30%
44.33%
-1.21%
Rockland
5.05%
23.23%
7.88%
21.55%
3.10%
Sullivan
2.53%
23.95%
9.10%
37.03%
1.00%
Ulster
6.78%
27.91%
10.95%
30.22%
4.42%
Westchester
6.84%
24.25%
7.39%
20.81%
4.45%
Hudson Valley Total
5.68%
24.37%
9.07%
23.78%
3.43%
New York City
5.56%
23.51%
3.98%
25.26%
3.08%
New York State
5.00%
23.88%
5.79%
24.52%
2.70%
Data: New York State Office of Temporary and Disability Assistance
30
Compiled by: Bureau of Economic Research, Marist College
1/4/2010
Total Temporary Assistance - Recipients
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
2,325
2,416
2,174
1,998
2,046
Dutchess
7,891
7,498
7,225
6,829
6,770
Greene
2,825
2,673
2,668
2,445
2,376
Orange
18,358
16,995
15,662
14,897
14,880
Putnam
361
336
305
311
382
Rockland
8,035
7,568
7,330
7,028
7,118
Sullivan
5,395
5,517
5,074
4,796
4,265
Ulster
8,175
7,921
7,527
7,000
6,708
Westchester
41,275
40,157
39,056
39,079
39,214
Hudson Valley
94,640
91,081
87,021
84,383
83,759
New York City
1,034,252
1,026,094
1,020,022
1,014,173
1,004,313
New York State
1,593,510
1,568,140
1,549,194
1,529,404
1,510,843
Quarterly Percentage Change
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
-3.8%
11.1%
8.8%
-2.3%
0.1%
Dutchess
5.2%
3.8%
5.8%
0.9%
4.4%
Greene
5.7%
0.2%
9.1%
2.9%
-1.2%
Orange
8.0%
8.5%
5.1%
0.1%
1.6%
Putnam
7.4%
10.2%
-1.9%
-18.6%
-5.9%
Rockland
6.2%
3.2%
4.3%
-1.3%
-0.1%
Sullivan
-2.2%
8.7%
5.8%
12.5%
-6.1%
Ulster
3.2%
5.2%
7.5%
4.4%
-0.6%
Westchester
2.8%
2.8%
-0.1%
-0.3%
2.6%
Hudson Valley
3.9%
4.7%
3.1%
0.7%
1.4%
New York City
0.8%
0.6%
0.6%
1.0%
-2.3%
New York State
1.6%
1.2%
1.3%
1.2%
-1.7%
Source: New York State Office of Temporary and Disability Assistance
31
Compiled by: Bureau of Economic Research, Marist College
1/4/2010
Supplemental Social Security Income - Recipients
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
4,636
4,634
4,622
4,542
4,505
Dutchess
14,470
14,535
14,342
14,114
14,065
Greene
3,850
3,812
3,865
3,785
3,780
Orange
19,164
19,269
19,204
19,072
19,028
Putnam
2,420
2474
2,481
2,501
2,515
Rockland
14,288
14,249
14,098
13,984
13,878
7,461
7,455
7,501
7,538
7,589
Ulster
12,222
12,265
12,230
12,223
12,176
Westchester
49,875
49,955
49,932
49,771
49,305
Hudson Valley
128,386
128,648
128,275
127,530
126,841
New York City
1,240,307
1,241,266
1,237,347
1,233,303
1,230,506
New York State
1,995,892
1,997,781
1,989,688
1,980,605
1,973,034
Sullivan
Quarterly Percentage Change
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
0.04%
0.26%
1.76%
0.82%
-0.55%
Dutchess
-0.45%
1.35%
1.62%
0.35%
0.24%
Greene
1.00%
-1.37%
2.11%
0.13%
1.72%
Orange
-0.54%
0.34%
0.69%
0.23%
1.57%
Putnam
-2.18%
-0.28%
-0.80%
-0.56%
1.49%
Rockland
0.27%
1.07%
0.82%
0.76%
0.96%
Sullivan
0.08%
-0.61%
-0.49%
-0.67%
0.04%
Ulster
-0.35%
0.29%
0.06%
0.39%
0.82%
Westchester
-0.16%
0.05%
0.32%
0.95%
1.20%
Hudson Valley
-0.20%
0.29%
0.58%
0.54%
0.97%
New York City
-0.08%
0.32%
0.33%
0.23%
0.29%
New York State
-0.09%
0.41%
0.46%
0.38%
0.49%
Data: New York State Office of Temporary and Disability Assistance
32
Compiled by: Bureau of Economic Research, Marist College
1/4/2010
Supplemental Social Security Income - Expenditures
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
$2,470,444
$2,669,310
$2,572,487
$2,328,020
$2,290,678
Dutchess
$7,947,294
$8,030,618
$7,897,648
$7,428,628
$7,439,100
Greene
$1,983,787
$2,048,672
$2,098,027
$1,902,512
$1,895,570
Orange
$10,166,183
$10,262,695
$10,015,872
$9,548,400
$9,594,935
Putnam
$1,248,034
$1,244,841
$1,219,886
$1,169,076
$1,220,226
Rockland
$7,767,091
$7,809,171
$7,671,728
$7,146,429
$7,065,438
Sullivan
$3,843,847
$3,963,265
$4,030,900
$3,771,364
$3,877,934
Ulster
$6,733,700
$6,681,324
$6,488,834
$6,361,302
$6,474,854
Westchester
$26,246,671
$26,487,532
$26,054,838
$24,821,820
$24,692,702
Hudson Valley
$68,407,051
$69,197,428
$68,050,220
$64,477,551
$64,551,437
New York City
$707,822,956
$711,953,664
$706,146,341
$669,798,875
$668,872,130
New York State
$1,121,286,497 $1,132,039,544 $1,117,871,233 $1,060,836,991 $1,054,800,494
Quarterly Percentage Change
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
-7.45%
3.76%
10.50%
1.63%
-3.42%
Dutchess
-1.04%
1.68%
6.31%
-0.14%
0.02%
Greene
-3.17%
-2.35%
10.28%
0.37%
0.74%
Orange
-0.94%
2.46%
4.90%
-0.48%
2.21%
Putnam
0.26%
2.05%
4.35%
-4.19%
5.31%
Rockland
-0.54%
1.79%
7.35%
1.15%
-0.48%
Sullivan
-3.01%
-1.68%
6.88%
-2.75%
-2.82%
Ulster
0.78%
2.97%
2.00%
-1.75%
1.58%
Westchester
-0.91%
1.66%
4.97%
0.52%
0.00%
Hudson Valley
-1.14%
1.69%
5.54%
-0.11%
0.25%
New York City
-0.58%
0.82%
5.43%
0.14%
-0.80%
New York State
-0.95%
1.27%
5.38%
0.57%
-0.48%
Data: New York State Office of Temporary and Disability Assistance
33
Compiled by: Bureau of Economic Research, Marist College
1/4/2010
Home Energy Assistance - Recipients
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
12,542
12,341
10,262
6,203
9,180
Dutchess
31,645
30,675
25,139
17,925
22,816
Greene
16,129
15,675
12,866
7,922
13,569
Orange
54,403
49,270
35,439
25,928
40,172
Putnam
4,501
4,442
3,636
2,397
2,811
Rockland
34,824
32,970
24,733
20,215
22,618
Sullivan
26,375
25,898
21,513
12,209
23,048
Ulster
46,696
45,705
36,021
19,932
37,201
Westchester
57,393
57,194
54,858
51,950
31,884
Hudson Valley
284,508
274,170
224,467
164,681
203,299
New York City
2,247,469
2,100,716
1,755,931
n/a
n/a
New York State
4,574,270
4,337,061
3,486,510
1,685,783
3,351,421
Quarterly Percent Change
Counties
2009.Q3
2009.Q2
2009.Q1
Columbia
1.63%
20.26%
65.44%
-32.43%
1.47%
Dutchess
3.16%
22.02%
40.25%
-21.44%
3.52%
Greene
2.90%
21.83%
62.41%
-41.62%
3.22%
Orange
10.42%
39.03%
36.68%
-35.46%
16.16%
Putnam
1.33%
22.17%
51.69%
-14.73%
4.81%
Rockland
5.62%
33.30%
22.35%
-10.62%
14.26%
Sullivan
1.84%
20.38%
76.21%
-47.03%
1.78%
Ulster
2.17%
26.88%
80.72%
-46.42%
3.75%
Westchester
0.35%
4.26%
5.60%
62.93%
0.49%
Hudson Valley
3.77%
22.14%
36.30%
-19.00%
6.15%
New York City
6.99%
19.64%
n/a
New York State
5.47%
24.40%
106.82%
34
2008.Q4
n/a
-49.70%
2008.Q3
n/a
14.12%
Home Energy Assistance - Expenditures
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
$7,613,514
$7,516,486
$6,342,775
$3,284,344
$4,118,425
Dutchess
$15,274,830
$14,657,751
$11,246,148
$5,945,563
$9,080,869
Greene
$10,427,824
$10,153,033
$8,343,041
$4,503,314
$6,166,849
Orange
$25,830,628
$23,214,455
$15,496,552
$8,680,208
$15,578,754
Putnam
$2,246,188
$2,209,950
$1,714,512
$825,856
$1,093,065
Rockland
$12,532,861
$11,601,832
$7,577,097
$4,849,789
$7,924,705
Sullivan
$15,896,003
$15,576,397
$12,735,011
$5,687,687
$10,781,025
Ulster
$27,145,269
$26,565,117
$20,702,508
$9,195,907
$16,260,314
$7,541,437
$7,447,597
$6,150,398
$4,089,990
$3,939,795
Hudson Valley
$124,508,554
$118,942,618
$90,308,042
$47,062,658
$74,943,801
New York City
$136,159,117
$129,317,264
$94,567,871
n/a
n/a
$1,262,768,525 $1,214,373,930
$934,642,342
$488,929,377
$837,127,452
Westchester
New York State
Quarterly Percent Change
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
1.29%
18.50%
93.12%
-20.25%
2.08%
Dutchess
4.21%
30.34%
89.15%
-34.53%
3.82%
Greene
2.71%
21.69%
85.26%
-26.98%
3.51%
Orange
11.27%
49.80%
78.53%
-44.28%
17.17%
Putnam
1.64%
28.90%
107.60%
-24.45%
6.48%
Rockland
8.02%
53.12%
56.24%
-38.80%
15.64%
Sullivan
2.05%
22.31%
123.90%
-47.24%
2.11%
Ulster
2.18%
28.32%
125.13%
-43.45%
4.21%
Westchester
1.26%
21.09%
50.38%
3.81%
2.59%
Hudson Valley
4.68%
31.71%
91.89%
-37.20%
7.19%
New York City
5.29%
36.75%
n/a
n/a
n/a
New York State
3.99%
29.93%
91.16%
-41.59%
7.94%
35
Total Temporary Assistance - Expenditures
Quarterly Sum
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
$877,936
$1,066,512
$751,808
$694,280
$688,847
Dutchess
$3,031,709
$3,317,787
$3,107,559
$2,556,517
$3,188,681
Greene
$834,365
$818,603
$746,125
$707,885
$642,600
Orange
$7,333,215
$6,915,306
$5,871,352
$5,479,423
$6,032,523
Putnam
$172,888
$180,198
$160,688
$163,788
$215,059
Rockland
$2,519,836
$2,390,311
$2,323,940
$2,288,118
$2,205,955
Sullivan
$1,867,267
$2,037,339
$1,779,288
$1,646,291
$1,585,280
Ulster
$3,003,171
$3,073,806
$2,897,405
$2,564,326
$2,616,009
Westchester
$19,769,938
$21,008,628
$19,232,247
$19,485,635
$22,656,846
Hudson Valley
$39,410,325
$40,808,490
$36,870,412
$35,586,263
$39,815,219
New York City
$332,184,941
$318,944,634
$318,464,000
$319,621,000
$321,691,000
New York State
$503,887,382
$489,195,147
$481,968,735
$476,556,196
$479,939,099
Quarterly Percentage Change
Counties
2009.Q3
2009.Q2
2009.Q1
2008.Q4
2008.Q3
Columbia
-17.7%
41.9%
8.3%
0.8%
-3.9%
Dutchess
-8.6%
6.8%
21.6%
-19.8%
11.4%
Greene
1.9%
9.7%
5.4%
10.2%
-7.1%
Orange
6.0%
17.8%
7.2%
-9.2%
-7.2%
Putnam
-4.1%
12.1%
-1.9%
-23.8%
9.7%
Rockland
5.4%
2.9%
1.6%
3.7%
-1.9%
Sullivan
-8.3%
14.5%
8.1%
3.8%
-5.6%
Ulster
-2.3%
6.1%
13.0%
-2.0%
-0.7%
Westchester
-5.9%
9.2%
-1.3%
-14.0%
10.8%
Hudson Valley
-3.4%
10.7%
3.6%
-10.6%
4.8%
New York City
4.2%
0.2%
-0.4%
-0.6%
-6.2%
New York State
3.0%
1.5%
1.1%
-0.7%
-5.0%
Source: New York State Office of Temporary and Disability Assistance
36
Compiled by: Bureau of Economic Research, Marist College
1/4/2010
Average Annual Selling Price
2008.Q3 -2009.Q3
2009
County
3rd Q
% Change
2008
2nd Q
1st Q
4th Q
3rd '09 to 2nd '09 to 1st '09 to
1st '09
4th '08
3rd '08
3rd Q
Columbia
$255,790 $ 256,885 $
241,212
$313,154
$329,444
6.04%
-17.97%
-26.78%
Dutchess
$312,520
$305,166
$332,612
$312,337
$347,660
-6.04%
-2.30%
-4.33%
Greene
$194,233
$196,017
$195,661
$204,379
$228,988
-0.73%
-4.09%
-14.55%
Orange
$311,675
$335,790
$323,581
$339,250
$352,948
-3.68%
-1.02%
-8.32%
Putnam
$367,037
$346,454
$359,591
$400,731
$430,721
2.07%
-13.54%
-16.51%
Rockland
$540,531
$543,747
$531,353
$578,850
$590,015
1.73%
-6.06%
-9.94%
Sullivan
$140,975
$155,932
$195,190
$163,420
$181,139
-27.78%
-4.58%
7.76%
Ulster
$247,009
$240,440
$243,468
$278,201
$290,011
1.45%
-13.57%
-16.05%
Westchester
$818,793
$757,892
$695,567
$796,265
$919,416
17.72%
-4.82%
-24.35%
Hudson Valleyy
$489,929
$452,353
,
$430,353
,
$481,963
,
$569,206
,
13.84%
-6.14%
-24.39%
New York State
$300,563
$274,898
$282,568
$299,168
$326,772
6.37%
-8.11%
-13.53%
U.S.
$269,200
$273,400
$257,000
$276,600
$285,100
4.75%
-1.16%
-9.86%
Average Quarterly Selling Price $1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
Columbia
Dutchess
3rd Q
Greene
Orange
2nd Q
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
Putnam
1st Q
37
Rockland
4th Q
Sullivan
Ulster
Westchester
3rd Q
1/4/2010
Sales: Existing Single Family Homes
2008.Q3-2009.Q3
2009
County
3rd Q
% Change
2008
2nd Q
1st Q
4th Q
3rd '09 to 2nd '09 to 1st '09 to
1st '09
4th '08
3rd '08
3rd Q
Columbia
100
75
49
71
121
104.08%
5.63%
-59.50%
Dutchess
723
516
374
492
630
93.32%
4.88%
-40.63%
Greene
99
69
46
55
82
115.22%
25.45%
-43.90%
Orange
619
429
310
434
576
99.68%
-1.15%
-46.18%
Putnam
159
131
88
147
199
80.68%
-10.88%
-55.78%
Rockland
376
233
189
287
399
98.94%
-18.82%
-52.63%
Sullivan
78
65
46
96
83
69.57%
-32.29%
-44.58%
298
224
134
242
319
122.39%
-7.44%
-57.99%
Westchester
1190
709
425
753
1,318
180.00%
-5.84%
-67.75%
Hudson Valley Total
3,642
2,451
1,661
2,577
3,727
119.27%
-4.89%
-55.43%
24,103
18,141
11,672
18,518
24,534
106.50%
-2.04%
-52.43%
4,646,667
4,756,667
4,583,333
4,740,000
5,006,667
1.38%
0.35%
-8.46%
Ulster
New York State
**U.S.
Sales: Existing Single Family Homes
1400
1200
1000
800
600
400
200
0
Columbia
Dutchess
Greene
3rd Q
Orange
2nd Q
Putnam
1st Q
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
4th Q
38
Rockland
Sullivan
Ulster
Westchester
3rd Q
1/4/2010
Median Selling Price (in Dollars)
2008.Q3-2009.Q3
2009
County
3rd Q
2008
2nd Q
1st Q
4th Q
% Change
3rd Q
3rd '09 to 2nd '09 to 1st '09 to
1st '09
4th '08
3rd '08
Columbia
$190,950
$227,750
$190,000 $200,000 $225,000
0.50%
13.88%
-15.56%
Dutchess
$280,000
$269,950
$280,000 $285,000 $309,900
0.00%
-5.28%
-9.65%
Greene
$165,000
$165,000
$156,000 $179,000 $179,950
5.77%
-7.82%
-13.31%
Orange
$260,000
$270,000
$260,450 $270,000 $285,655
-0.17%
0.00%
-8.82%
Putnam
$330,000
$324,450
$342,450 $350,000 $375,000
-3.64%
-7.30%
-8.68%
Rockland
$431,600
$420,000
$407,500 $432,500 $462,500
5.91%
-2.89%
-11.89%
Sullivan
$123,500
$138,000
$119,000 $146,500 $159,000
3.78%
-5.80%
-25.16%
Ulster
$203,750
$209,000
$190,560 $220,000 $250,000
6.92%
-5.00%
-23.78%
Westchester
$630,000
$565,000
$534,000 $569,000 $710,000
17.98%
-0.70%
-24.79%
Hudson Valley*
$290,533
$269,950
$260,450 $294,667 $328,556
11.55%
-8.39%
-20.73%
New York State
$205,000
$185,500
$199,000 $210,000 $219,000
3.02%
-11.67%
-9.13%
$176,000
$182,000
$169,900 $175,700 $191,400
3.59%
3.59%
-11.23%
U.S.**
* Estimate ** Medians of Last Month of Quarter
Median Selling Prices: Existing Single Family Homes $800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
Columbia
Dutchess
Greene
3rd Q
Orange
2nd Q
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
Putnam
1st Q
39
Rockland
4th Q
Sullivan
Ulster
Westchester
3rd Q
1/4/2010
Columbia County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
28%
53%
2008.Q3
27%
2 Bedbrooms or Less
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
46%
2008.Q2
2009.Q2
16%
37%
2 Bedrooms or Less
4 Bedrooms or More
4 Bedrooms or More
41%
2008.Q1
28%
2 Bedrooms or Less
23%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
63%
49%
2007.Q4
2008.Q4
24%
2 Bedrooms or Less
3 Bedrooms
2009.Q1
25%
22%
3 Bedrooms
57%
12%
2 Bedrooms or Less
3 Bedrooms
19%
27%
27%
23%
30%
2 Bedrooms or Less
17%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
53%
53%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
40
1/5/2010
Dutchess County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
2008.Q3
10%
38%
2 Bedbrooms or Less
2 Bedrooms or Less
44%
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
51%
46%
4 Bedrooms or More
11%
2009.Q2
2008.Q2
12%
15%
2 Bedrooms or Less
40%
2 Bedrooms or Less
41%
3 Bedrooms
45%
3 Bedrooms
4 Bedrooms or More
47%
2008.Q1
2009.Q1
12%
14%
2 Bedrooms or Less
44%
2 Bedrooms or Less
47%
3 Bedrooms
42%
4 Bedrooms or More
3 Bedrooms
41%
2008.Q4
13%
2 Bedrooms or Less
2 Bedrooms or Less
41%
3 Bedrooms
50%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
4 Bedrooms or More
2007.Q4
12%
38%
4 Bedrooms or More
3 Bedrooms
4 Bedrooms or More
41
46%
4 Bedrooms or More
1/5/2010
Greene County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2008.Q3
2009.Q3
22%
24%
23%
2 Bedbrooms or Less
16%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
61%
54%
2008.Q2
2009.Q2
16%
33%
27%
2 Bedrooms or Less
21%
51%
4 Bedrooms or More
4 Bedrooms or More
52%
2009.Q1
28%
39%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
2008.Q1
27%
2 Bedrooms or Less
20%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
33%
53%
2007.Q4
2008.Q4
11%
20%
24%
2 Bedrooms or Less
23%
4 Bedrooms or More
4 Bedrooms or More
53%
69%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
42
1/5/2010
Orange County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
2008.Q3
12%
13%
2 Bedbrooms or Less
41%
2 Bedrooms or Less
41%
3 Bedrooms
46%
3 Bedrooms
4 Bedrooms or More
47%
2009.Q2
4 Bedrooms or More
2008.Q2
10%
12%
2 Bedrooms or Less
42%
48%
2 Bedrooms or Less
45%
3 Bedrooms
4 Bedrooms or More
3 Bedrooms
43%
2009.Q1
4 Bedrooms or More
2008.Q1
9%
13%
2 Bedrooms or Less
42%
2 Bedrooms or Less
43%
3 Bedrooms
49%
3 Bedrooms
4 Bedrooms or More
44%
2008.Q4
2007.Q4
12%
13%
2 Bedrooms or Less
42%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
2 Bedrooms or Less
44%
3 Bedrooms
45%
4 Bedrooms or More
4 Bedrooms or More
3 Bedrooms
44%
43
4 Bedrooms or More
1/5/2010
Putnam County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
26%
26%
2008.Q3
31%
2 Bedbrooms or Less
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
50%
48%
2009.Q2
25%
19%
29%
2008.Q2
33%
2 Bedrooms or Less
24%
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
43%
46%
2009.Q1
32%
33%
2008.Q1
34%
2 Bedrooms or Less
25%
3 Bedrooms
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
41%
35%
2008.Q4
26%
2 Bedrooms or Less
31%
2007.Q4
26%
2 Bedrooms or Less
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
43%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
29%
45%
44
1/5/2010
Rockland County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
2008.Q3
4%
7%
2 Bedbrooms or Less
32%
61%
28%
3 Bedrooms
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
68%
2009.Q2
2008.Q2
5%
4%
35%
61%
2 Bedrooms or Less
33%
3 Bedrooms
62%
4 Bedrooms or More
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
2009.Q1
2008.Q1
6%
7%
27%
2 Bedrooms or Less
2 Bedrooms or Less
33%
3 Bedrooms
60%
4 Bedrooms or More
67%
3 Bedrooms
4 Bedrooms or More
2008.Q4
2007.Q4
5%
8%
2 Bedrooms or Less
32%
60%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
28%
3 Bedrooms
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
67%
45
4 Bedrooms or More
1/5/2010
Sullivan County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
2008.Q3
14%
21%
22%
29%
2 Bedbrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
49%
65%
2009.Q2
24%
26%
24%
2 Bedrooms or Less
32%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
44%
2009.Q1
30%
2008.Q1
25%
2 Bedrooms or Less
26%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
49%
37%
2008.Q4
21%
4 Bedrooms or More
2008.Q2
50%
33%
2 Bedrooms or Less
31%
2007.Q4
28%
2 Bedrooms or Less
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
48%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
26%
46%
46
1/5/2010
Ulster County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
25%
26%
2008.Q3
25%
2 Bedbrooms or Less
25%
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
50%
49%
2009.Q2
24%
25%
2008.Q2
22%
2 Bedrooms or Less
19%
2 Bedrooms or Less
3 Bedrooms
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
51%
59%
2009.Q1
28%
2008.Q1
20%
27%
2 Bedrooms or Less
25%
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
48%
2008.Q4
21%
2007.Q4
26%
2 Bedrooms or Less
24%
3 Bedrooms
2 Bedrooms or Less
3 Bedrooms
4 Bedrooms or More
4 Bedrooms or More
50%
54%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
2 Bedrooms or Less
3 Bedrooms
52%
25%
2 Bedrooms or Less
47
1/5/2010
Westchester County 2009.Q3 ‐ 2007.Q4
Quarterly Existing Home Sales by Number of Bedrooms
2009.Q3
2008.Q3
5%
6%
2 Bedbrooms or Less
39%
55%
2 Bedrooms or Less
37%
3 Bedrooms
58%
4 Bedrooms or More
4 Bedrooms or More
2009.Q2
2008.Q2
8%
8%
2 Bedrooms or Less
39%
53%
3 Bedrooms
2 Bedrooms or Less
3 Bedrooms
38%
54%
4 Bedrooms or More
2009.Q1
3 Bedrooms
4 Bedrooms or More
2008.Q1
9%
8%
2 Bedrooms or Less
46%
2 Bedrooms or Less
3 Bedrooms
45%
38%
54%
4 Bedrooms or More
2008.Q4
3 Bedrooms
4 Bedrooms or More
2007.Q4
8%
9%
2 Bedrooms or Less
48%
2 Bedrooms or Less
3 Bedrooms
43%
Source: NAR, NY
Compiled by: Marist College Bureau of Economic Research
53%
4 Bedrooms or More
48
39%
3 Bedrooms
4 Bedrooms or More
1/5/2010
Monthly Construction Permits
Single Family Homes
2009
Counties
October
September
August
July
June
May
April
Total
09.Q1
Columbia
2
2
1
1
0
1
0
19
26
Dutchess
9
15
5
7
10
8
10
17
81
Greene
0
0
0
0
0
0
0
0
0
Orange
41
24
14
28
28
21
23
43
222
Putnam
3
5
6
1
5
2
0
7
29
Rockland
5
21
6
5
8
9
4
24
82
Sullivan
16
9
10
6
3
13
14
23
94
Ulster
12
10
7
7
9
11
7
12
75
Westchester
17
20
11
23
13
18
18
35
155
105
106
60
37.9
40
42.2
Hudson Valley
United States (000's)
78
76
83
76
46.1
46.2
38.8
37.3
180
80
764
369
Monthly Construction Permits
Non-single Family Construction (# of buildings)
2009
Counties
October
September
August
July
June
May
April
09.Q1
Total
Columbia
Dutchess
Greene
Orange
1
3
2
1
3
3
1
4
18
Rockland
0
2
0
1
0
0
0
2
5
Sullivan
1
1
0
0
0
0
1
4
7
Ulster
0
3
0
0
0
0
0
2
5
Westchester
0
0
0
0
1
0
3
0
4
Hudson Valley
7
9
2
2
4
3
5
12
44
8.7
11.3
10.2
8.6
13.3
9.3
9.3
38.3
109
80
80
86
81
192
404
Putnam
United States (000's)
Hudson Valley (All)
112
115
62
49
Dollar Cost of Construction Single Family Homes
2009
Counties
October
Columbia
September
August
July
June
May
April
09.Q1
Total
$812,040
$1,364,079
$682,040
$46,667
$0
$46,667
$0
$2,340,000
$5,291,493
$2,123,525
$3,152,212
$887,167
$1,967,452
$2,469,525
$905,452
$1,709,903
$3,479,235
$16,694,471
Greene
$0
$0
$0
$0
$0
$0
$0
$0
$0
Orange
$6,363,278
$4,045,210
$2,164,189
$4,701,098
$4,151,352
$3,087,222
$3,697,169
$7,991,470
$36,200,988
Putnam
$791,400
$2,525,442
$1,216,400
$191,400
$1,004,352
$547,012
$0
$2,543,940
$8,819,946
Rockland
$1,578,000
$6,280,000
$1,922,707
$1,506,286
$2,717,000
$4,860,155
$1,054,000
$5,596,274
$25,514,422
Sullivan
$1,913,786
$1,333,688
$1,272,302
$1,117,228
$743,000
$1,782,163
$1,713,518
$2,229,739
$12,105,424
Ulster
$2,212,833
$2,340,617
$1,688,317
$1,160,925
$1,785,616
$958,000
$1,035,308
$1,829,184
$13,010,800
Westchester
$7,883,053
$9,883,564
$4,018,441
$10,483,170
$7,297,686
$10,274,083
$8,948,891
$17,010,425
$75,799,313
$23,677,915
$30,924,812
$13,851,563
$21,174,226
$20,168,531
$22,460,754
$18,158,789
$43,020,267
$193,436,857
$7,374.30
$7,774.5
$7,984.0
$8,594.6
$8,750.8
$7,301.0
$6,804.0
$14,785
$69,368.2
Dutchess
Hudson Valley
United States (millions)
Dollar Cost of Construction Non-single Family Construction (# of buildings)
2009
Counties
October
September
July
August
June
May
April
09.Q1
Total
Columbia
$0
Dutchess
$0
Greene
$0
Orange
$531,059
$1,124,989
$801,179
$531,059
$1,178,441
$1,261,955
$955,906
$1,805,227
$8,189,815
$0
$540,000
$0
$240,000
$0
$0
$0
$1,198,394
$1,978,394
$86,110
$86,110
$0
$0
$0
$0
$86,110
$244,696
$503,026
Ulster
$0
$1,494,180
$0
$0
$0
$0
$0
$260,000
$1,754,180
Westchester
$0
$0
$0
$0
$200,000
$0
$23,378,550
$0
$23,578,550
$617,169
$3,245,279
$801,179
$771,059
$1,378,441
$1,261,955
$24,420,566
$3,508,317
$36,003,965
$773.70
$1,075.70
$837.40
$749.20
$1,078.60
$858.20
$788.20
$3,431.00
$9,592.00
Putnam
Rockland
Sullivan
Hudson Valley
United States (millions)
Hudson Valley (All)
$24,295,084
$34,170,091
$14,652,742
$21,945,285
50
$21,546,972
$23,722,709
$42,579,355
$46,528,594
$229,440,822
Monthly Average Cost of Construction per Permit Single Family Homes
2009
Counties
October
September
August
July
June
May
April
Monthly
Average
09.Q1
Columbia
$406,020
$682,040
$682,040
$46,667
$0
$46,667
$0
$123,158
$203,519
Dutchess
$235,947
$210,147
$177,433
$281,065
$246,953
$113,182
$170,990
$614,589
$206,105
Greene
$0
$0
$0
$0
$0
$0
$0
$0
$0
Orange
$155,202
$168,550
$154,585
$167,896
$148,263
$147,011
$160,746
$546,841
$163,068
Putnam
$263,800
$505,088
$202,733
$191,400
$200,870
$273,506
$0
$1,073,300
$304,136
Rockland
$315,600
$299,048
$320,451
$301,257
$339,625
$540,017
$263,500
$751,993
$311,151
Sullivan
$119,612
$148,188
$127,230
$186,205
$247,667
$137,089
$122,394
$291,190
$128,781
Ulster
$184,403
$234,062
$241,188
$165,846
$198,402
$87,091
$147,901
$403,281
$173,477
Westchester
$463,709
$494,178
$365,313
$455,790
$561,360
$570,782
$497,161
$1,438,408
$489,028
Hudson Valley
$225,504
$291,744
$230,859
$271,464
$265,375
$270,611
$238,931
$715,607
$326,370
United States
$194,573
$194,363
$189,194
$186,434
$189,411
$188,170
$182,413
$184,813
$187,828
Monthly Average Cost of Construction per Permit Non-single Family Construction (# of buildings)
2009
Counties
October
September
August
July
June
May
April
Monthly
Average
09.Q1
Columbia
Dutchess
Greene
Orange
$531,059
$374,996
$400,590
$531,059
$392,814
$420,652
$955,906
$1,315,308
$454,990
$0
$270,000
$0
$240,000
$0
$0
$0
$1,198,394
$395,679
$86,110
$86,110
$0
$0
$0
$0
$86,110
$179,696
$71,861
Ulster
$0
$498,060
$0
$0
$0
$0
$0
$260,000
$350,836
Westchester
$0
$0
$0
$0
$200,000
$0
$7,792,850
$0
$5,894,638
Hudson Valley
$88,167
$360,587
$400,590
$385,530
$344,610
$420,652
$4,884,113
$2,953,398
$1,392,783
United States
$88,931
$95,195
$82,098
$87,116
$81,098
$92,280
$84,753
$89,582
$87,446
Putnam
Rockland
Sullivan
Hudson Valley (All)
$313,671
652,330
631,449
656,994
51
609,986
691,263
5,123,045
3,669,005
$859,577
The Rate of Inflation
Year-to-Year Percent Change in CPI-U
2003 to October 2009
Consumer Price Index (CPI-U) NY, NY -Northeastern NJ
2009
2008
2007
2006
2004
2005
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Average
2003
1.52%
1.59%
0.84%
0.76%
-0.10%
-0.60%
-1.12%
-0.96%
-0.62%
0.00%
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%
3.29%
3.32%
3.14%
2.55%
2.82%
2.82%
2.97%
3.11%
3.26%
3.25%
3.10%
3.21%
0.13%
3.90%
2.81%
3.78%
3.88%
3.53%
3.07%
Consumer Price Index (CPI-U) US City Average
2009
2008
2007
2006
2005
2004
2003
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
0.02%
0.23%
-0.37%
-0.73%
-1.27%
-1.42%
-2.09%
-1.51%
-1.28%
-0.18%
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%
2.60%
2.98%
3.02%
2.22%
2.06%
2.11%
2.11%
2.16%
2.32%
2.04%
1.77%
1.88%
Average
-0.86%
3.85%
2.85%
3.88%
3.39%
2.68%
2.27%
Source: U.S. Bureau of Labor Statistics
Compiled by the Marist College Bureau of Economic Research, Marist College
52
1/4/2010
2009:Q3
Total Sales Tax Collection
2009.Q3 - 2008.Q3
2009:Q2
2009:Q1
County
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
$7,687,494
$35,797,119
$6,544,794
$54,232,791
$12,086,192
$41,670,303
$9,629,777
$24,427,327
$104,774,825
$7,989,991
$33,956,512
$6,241,669
$53,551,603
$11,371,196
$41,378,574
$8,918,534
$22,174,842
$101,254,065
Hudson Valley
$296,850,622
$286,836,987
$7,008,124
$34,133,431
$6,378,693
$52,442,111
$10,740,232
$41,073,424
$7,587,668
$22,305,160
$104,718,131
$286,386,974
2008:Q4
$6,879,993
$37,116,801
$6,199,443
$53,364,174
$11,981,110
$40,678,402
$8,226,786
$23,594,487
$108,470,561
$296,511,758
2008:Q3
$8,841,393
$41,583,571
$7,864,924
$59,777,665
$13,702,969
$44,473,849
$11,251,800
$27,008,398
$118,979,962
$333,484,530
Quarterly Percentage Change
County
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
2009:Q32009:Q2
2009:Q22009:Q1
-3.79%
5.42%
4.86%
1.27%
6.29%
0.71%
7.97%
10.16%
3.48%
3.49%
Source: NYS Department of Taxation and Finance
Compiled by Bureau of Economic Research, School of Management, Marist College
14.01%
-0.52%
-2.15%
2.12%
5.87%
0.74%
17.54%
-0.58%
-3.31%
2009:Q12008:Q4
1.86%
-8.04%
2.89%
-1.73%
-10.36%
0.97%
-7.77%
-5.46%
-3.46%
2008:Q42008:Q3
-22.18%
-10.74%
-21.18%
-10.73%
-12.57%
-8.53%
-26.88%
-12.64%
-8.83%
2008:Q32008:Q2
10.66%
10.89%
16.36%
5.38%
4.15%
11.41%
-36.84%
10.59%
1.73%
0.16%
-3.41%
-11.09%
3.81%
1/4/2010
53