ECONOMIC REPORT
of the
HUDSON VALLEY
Second Quarter 2009
MARIST COLLEGE
Dr. Christy Huebner Caridi
Bureau of Economic Research
School of Management
Poughkeepsie, New York 12601
Edited by Dana Gavin, M.A.
September 2009
This report is available on the Bureau of Economic Research homepage at
http://www.marist.edu/management/bureau
The support of research assistants Daniel Greco, Trey Savage, Amanda Pfister and
Serena Bubenheim 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
1-10
Employment by Place of Residence
11-13
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
27-32
Home Sales, Prices, and Permits
33-38
Regional Inflation
39-40
Sales Tax Collection
41
Economic Report of the Hudson Valley
National Review
The September jobs report brings into question the recent suggestion that the
longest recession since the Great Depression ended in June of this year. GDP has been
and will be positively impacted by inventory investment, government deficit spending
and the continued weakness in the demand for imported goods. However, consumption
and real estate investment (both residential and commercial) remains weak. The
household sector, racked by uncertainty, is intent on rebuilding savings and paying down
existing debt. This “new” consumer will not—a behavioral shift—and can not—credit
restrictions—lead a job-creating economic recovery. That said, every indicator points to a
repeat of the jobless recovery experienced after the 2001 recession. The Business
Roundtable reports that only 13.00% of its members expect to hire over the next six
months. If this expectation holds, unemployment will rise well above the 10% mark and
will not begin to edge downward until the second half of 2010. Uncertainty in the
domestic labor market coupled with anemic consumption demand has directly impacted
and will continue to directly impact the willingness of firms to add to their domestic
capital stock. Domestic investment in plants, equipment and software is an important
engine of economic growth and job creation. If investment does not close the deflationary
gap, then the gap must be filled by the government and/or foreign sectors. Growth in the
government sector will require political will; growth in the foreign sector is dependent on
world growth and the willingness to defend the dollar in the international exchange
markets.
Regional Review
Employment in seven of the nine Hudson Valley counties reached a near-term
peak during the third quarter of 2008. Dutchess and Putnam reached peak employment in
December in 2007—the final month of the economic expansion. During the recession,
there has been a continuous expansion in the number of Hudson Valley residents in the
labor force. Across the region, the labor force has grown from 1.2 million participants in
December of 2007 to 1.25 million participants in July of 2009—a 3.93% increase. Over
the same time period, labor force participation in the U.S. and New York State increased
2.04% and 4.06%, respectively. An explanation for the increase in the level of the labor
force is the desire to rebuild savings balances, repay outstanding consumer debt and
supplement household income.
Because labor force participation has grown while employment opportunities
have waned, the region has experienced a significant increase in the number of Hudson
Valley residents willing and able to work but unable to secure employment. As of July
2009, the gap between the regional labor force and regional employment opportunities
was 240,000. Across the region and on average, residents in the Putnam-RocklandWestchester metropolitan statistical area (MSA)—lower Hudson Valley—have
experienced a lower level of joblessness compared to the rest of the region.
Since December of 2007, total non-farm employment in the Hudson Valley has
fallen 2.80%, from 981,000 in December of 2007 to 953,500 in July of 2009. Private
employment has declined 3.37%. Employment in the government sector fell .03%. Of
these totals, the largest level decline occurred in the service-providing sector at 19,000.
Goods-producing employment fell 8,600 with the largest contractions occurring in the
1
Rockland-Westchester-Putnam and the Dutchess-Orange MSAs at 2,400 and 2,600,
respectively. Overall, employment in the goods-producing industries—which currently
represents 11.64% of all employment—has fallen 7.20% compared to a 2.20% decline in
the service-providing industries. Concomitant with the decline in the level of national and
regional employment has been a subtle shift away from goods-producing employment
toward service-providing; and a general reduction in average weekly wages. Between
December 2007 and July of the current year, the share of non-farm employment
represented by the goods-producing industries—manufacturing and construction—has
fallen 8.47% nationwide and 4.51% in the Hudson Valley. These declines are directly
attributable to the crisis in the residential and commercial real estate sectors and the
widespread reduction in the demand for consumption and capital goods. Two bright spots
in the employment picture are education and health services and leisure and hospitality.
Sales of existing family homes fell 18.22% between the second quarter of 2008
and the second quarter of 2009. Between the first and second quarters of the current year,
the number of home sales increased 46.72%, from 1,661 in the first quarter to 2,437 in
the second quarter. In New York State, existing home sales recorded a quarter-overquarter decline of 10.68%. Sales in the second quarter of 2009 increased 55.42% relative
to the first three months of the year. 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 highend homes. Each county in the region recorded a substantial increase in home sales
activity between the first and second quarters of the current year. Over the same time
period, the average and median selling price of an existing single-family home increased
from its near-term low in Columbia, Greene, Orange, Rockland and Westchester
counties. The average and median selling price of an existing single-family home in
Dutchess, Putnam and Sullivan continued to decline. In Ulster County, median housing
values have risen relative to the near-term low recorded in the first quarter of 2009;
average selling prices continue to decline. In Putnam and Ulster, the rate of decline in
average housing values is falling. In Dutchess and Sullivan, the rate of decline
accelerated between the first and second quarters of the current year. The balance of the
region experienced positive increases in average housing values between the first and
second quarters of the current year. Nationwide, average and median selling prices rose
between the first and second quarters; in New York State, median housing values rose;
average housing values continued to decline; however, the rate of decline is falling.
Weakness in the national and regional housing sectors has lead to a virtual
shutdown in new home construction. According to the U.S. Census Bureau, across the
Hudson Valley, 493 single-family home construction permits were issued during the first
seven months of the year; 80 multifamily unit construction permits were issued. At this
current rate of activity, housing construction in the region will have recorded a substantial
year-over-year decline. It should 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, singlefamily home construction nationwide and in New York State is down year-over-year
35.60% and 32.94%, respectively.
2
Hudson Valley Labor Force
► Since the peak of the business cycle:
The Hudson Valley labor force has expanded 3.93%,
the U.S. labor force has grown 2.04%, and the regional unemployment rate has
increased 93.47%.
Throughout the
Quarte r-to-Quarte r % Change (from Pre vious Ye ar) in Labor Force
current recession, there
for the Huds on Valle y 2004:01- 2009:02
has been a continuous
12.00%
expansion in the number
10.00%
of Hudson Valley
8.00%
residents 1 in the labor
6.00%
force, willing and able to
4.00%
work. Across the region,
2.00%
the labor force has grown
0.00%
from 1.2 million
2.00%4.00%participants in December
6.00%of 2007 (the peak of the
2004
2005
2006
2007
2008
2009
business cycle) to 1.25
Hudson Valley
New York State
United States
million participants in
July of 2009—a 3.93%
increase. Over the same time period, labor force participation in the U.S. and New York
State increased 2.04% and 4.06%, respectively. The largest single increase occurred in
Sullivan County at 7.84%, followed by Columbia and Rockland at 5.88% and 5.24%,
respectively. The smallest increases occurred in Ulster (.24%) and Dutchess (.97%).
Since December of 2007, overall employment has fallen by .05%. The largest
percentage declines occurred in Dutchess and Ulster counties at 3.32% and 3.70%,
respectively. Employment in Orange County experienced a 1.51% reduction. Across the
remainder of the region, employment expanded.
Because labor force participation grew by more than the increase in (non-farm)
employment, the unemployment rate for Hudson Valley residents has increased 93.47%
since the peak of the business cycle: the unemployment rate nationwide has increased
94.00%; employment in New York State has expanded 101.19%. Compared to the rest of
the region and on average, residents in the Putnam-Rockland-Westchester MSA—lower
Hudson Valley—have experienced a lower rate of joblessness during the current
recession.
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 members of
the capital region.
3
Non-Farm Employment by Place of Work2
►Since the peak of the business cycle, employment in the Hudson Valley has fallen
by 27,600 jobs—a 2.80% decline.
Goods-producing industries reduced employment by 8,600 jobs; service-providing
industries shed 19,000 jobs.
Employment in the government sector fell by 600.
Since December of 2007, total non-farm employment in the Hudson Valley has
fallen 2.80%, from 981,000 in December of 2007 to 953,500 in July of 2009. Private
employment has declined 3.37%. Employment in the government sector fell .03%. Of
these totals, the largest level decline occurred in the service-providing sector at 19,000.
Goods-producing employment fell 8,600 with the largest contractions occurring in the
Rockland-Westchester-Putnam and the Dutchess-Orange MSAs at 2,400 and 2,600,
respectively. Overall, employment in the goods-producing industries—which currently
represents 11.64% of all employment—has fallen 7.20% compared to a 2.20% decline in
the service-providing industries. Nationwide, total non-farm employment has fallen
(5.53%) from 139
Change in share of Employment as a Percent of Non-Farm Employment:
million in December
December 2007 - July 2009
of 2007 to 132
4.00% 2.53% 3.00%
million in July of
1.36%
2.00%
0.63% 0.40%
the current year.
0.00%
Goods-producing
-2.00%
-0.92%
employment—
-4.00%
-3.75%
-4.51%
which currently
-6.00%
-8.00%
represents 14.50%
-7.17%
-8.47%
-8.76%
-10.00%
of total
-9.61%
-12.00%
employment—has
Government
Service Providing
Goods Producing
Manufacturing
fallen 13.19%;
Hudson Valley
NYS
U.S.
employment in the
service providing industries has declined 4.23%.
Concomitant with the decline in the level of national and regional employment
has been a subtle shift away from goods-producing employment toward serviceproviding. Between December 2007 and July of the current year, the share of non-farm
employment represented by the goods-producing industries—manufacturing and
construction—has fallen 8.47% nationwide and 4.51% in the Hudson Valley. These
declines are directly attributable to the crisis in the residential and commercial real estate
sectors and the widespread reduction in the demand for consumption and capital goods.
Two bright spots in the employment picture are education and health services and leisure
and hospitality.
2
Current Employment Statistics (CES): survey of sample employers excludes self-employed, agricultural, domestic workers and the
military. Place of Work Series.
4
Non-Farm Employment by Place of Work
and Average Weekly Wage3 Trends
► Average Weekly Wages fall with the contraction of employment
In the Rockland-Westchester-Putnam, NY MSA, non-farm, goods-producing
and service-providing employment all peaked in December of 2007 and reached a nearterm low in the first quarter of 2009. In all three counties, first-quarter 2009 average
weekly non-farm wages were down relative to average weekly wages in the fourth
quarter of 2007. Average weekly wages (AWW) during the first quarter of 2009—in the
goods-producing industries—
Average Weekly Wages
were down in Putnam and up
Goods
Service
in Rockland and Westchester.
Nonfarm Government Producing
Providing
Over the same time period,
Putnam
AWW were down across all
2007:04
$891
$1,058
$1,098
$849
three counties. In Rockland
2008:02
$870
$1,314
$973
$858
County, AWW in the non-farm
2009:01
$830
$1,144
$931
$805
sector were down 2.42%,
Rockland
AWW in the service sector
2007:04
$951
$985
$1,281
$889
were up 10.96% and AWW in 2008:02
$915
$1,117
$1,238
$860
the goods sector were down
2009:01
$928
$1,029
$1,421
$845
4.98%. In Westchester County, Westchester
AWW in the non-farm sector
2007:04
$1,249
$1,196
$1,524
$1,219
were down 2.01%, AWW in
2008:02
$1,138
$1,349
$1,450
$1,100
the service sector were down
2009:01
$1,224
$1,192
$1,523
$1,196
.04% and AWW in the goods
sector were down 1.87%. In Putnam County, AWW in the non-farm sector were down
6.80%, AWW in the service sector were up 15.20% and AWW in the goods sector were
down 5.23%.
Average Weekly Wages
In the PoughkeepsieGoods
Service
Newburgh-Middletown, NY
Nonfarm Government Producing Providing
MSA (Dutchess and Orange
Orange
counties), non-farm and
2007:04
$748
$934
$865
$716
service-sector employment
2008:02
$753
$1,080
$830
$726
peaked in December of 2007
2009:01
$727
$948
$821
$694
and have yet to reach a nearterm low. Employment in the
Dutchess
goods-producing industries
2007:04
$876
$905
$1,496
$727
peaked in the third quarter of
2008:02
$884
$1,074
$1,482
$735
2008 and continues to decline. 2009:01
$902
$952
$1,707
$729
In direct opposition to the
employment trend, AWW in Dutchess County were up in the first quarter of 2009
relative to the fourth quarter of 2007. The largest single increase occurred in the goods3
Average weekly wage data was secured through a special request of the New York State Department of
Labor.
5
producing sector: in this sector,
AWW were up 14.13% relative
to the fourth quarter of 2007. In
contrast, AWW in Orange
County fell relative to the fourth
quarter of 2007. Non-farm
AWW were down 3.41%,
goods-producing AWW were
down 1.03% and AWW in the
service sector were down 4.41%.
Average Weekly Wages
Goods
Nonfarm Government Producing
Service
Providing
Ulster
2007:04
$694
$876
$834
$650
2008:02
$709
$1,030
$822
$667
2009:01
$674
$920
$782
$635
2007:04
$666
$646
$813
$634
2008:02
$647
$717
$779
$613
Columbia
Across the balance of the 2009:01
$627
$662
$725
$604
region, which includes the
Greene
Kingston, NY MSA (Ulster
2007:04
$644
$780
$884
$549
County), Columbia, Greene and
2008:02
$673
$910
$867
$575
Sullivan counties, employment
2009:01
$633
$812
$912
$532
peaked in the second quarter of
Sullivan
2008. AWW in the non-farm
2007:04
$664
$855
$649
$637
sector peaked in the second
2008:02
$683
$981
$646
$659
quarter in 2008 in Ulster, Greene
and Sullivan counties. In
2009:01
$672
$882
$593
$653
Columbia County, AWW
peaked during the fourth quarter of 2007. In Greene County, employment in the goodsproducing industries peaked in the third quarter of 2008. In contrast, in first-quarter 2009,
AWW were at a near-term high. Across the balance of the area, AWW in the goodsproducing industries are at a near-term low. AWW in the service-providing industries
peaked in the second quarter of 2008, with the exception of Columbia. In Columbia
County, AWW in the service-providing industries peaked during the fourth quarter of
2007.
Monthly Income Maintenance Benefits (Social Assistance)
►Since the beginning of the recession, food-stamp recipients
and expenditures have advanced 28.85% and 39.95%, respectively.
►Total Temporary Assistance records a smaller increase.
The average monthly number of food-stamp recipients in the second quarter of
2009 increased 28.85% relative to December of 2007, from 123,000 recipients in
December of 2007 to a second-quarter monthly average of 158,000. Over the same time
frame, food-stamp expenditures, across the region, advanced 39.95%. In New York State,
food-stamp expenditures increased 42.77% and the number of recipients advanced
30.46%. The number of total Temporary Assistance recipients—which includes Family
Assistance and Safety Net Assistance—recorded an 11.19% in the Hudson Valley and a
1.24% increase in New York State. Expenditures advanced 6.75% in the Hudson Valley
and 1.86% statewide.
6
Within the region, every county recorded a double-digit increase in the number of
food-stamp recipients; Temporary Assistance recipients grew at a double-digit pace in all
but Westchester, Rockland and Putnam counties. Putnam County reported a small decline
of 12 recipients.
Home Sales, Prices and Building Permits
► Second-quarter homes sales were up 46.72% relative to the first quarter of 2009
and average housing prices increased 6.50%.
►Over the same period, the median selling price of a single-family home fell
in Dutchess and Putnam counties.
►Across the Hudson Valley, average housing values are down 19.49%
quarter-over-quarter.
► Residential construction remains weak.
# Homes Sold
Average Sales Price
Sales of existing family homes fell 18.22% between the second quarter of 2008
and the second quarter of 2009. Between the first and second quarters of the current year,
the number of home sales increased 46.72%, from 1,661 in the first quarter to 2,437 in
the second quarter. In
Huds on Valle y Ave rage Sale s Price Tre nd:
New York State,
Data Source NYSAR: 2000:1-2009:2
existing home sales
$700,000
7000
6,476
recorded a quarter-over$650,000
6000
$634,323
$600,000
quarter decline of
5000
$550,000
10.68%. Sales in the
4000
$500,000
second quarter of 2009
$450,000
3000
increased 55.42%
$400,000
2000
relative to the first three
$350,000
1000
months of the year.
$300,000
$250,000
0
The number of homes
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
sold peaked in the third
Average Home Sales Price
Total Homes Sales
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 substantial increase in home-sales activity
between the first and second quarters of the current year. Over the same time period, the
average and median selling price of an existing single-family home increased from its
near-term low in Columbia, Greene, Orange, Rockland and Westchester counties. The
average and median selling price of an existing single family home in Dutchess, Putnam
and Sullivan continued to decline. In Ulster County, median housing values have risen
relative to the near-term low recorded in the first quarter of 2009; average selling prices
continue to decline. In Putnam and Ulster, the rate of decline in average housing values is
falling. In Dutchess and Sullivan, the rate of decline accelerated between the first and
second quarters of the current year. The balance of the region experienced positive
increases in average housing values between the first and second quarters of the current
7
year. Nationwide, average and median selling prices rose between the first and second
quarters; in New York State, median housing values rose, and average housing values
continued to decline; however, the rate of decline is falling.
Weakness in the national and regional housing sectors has led to a virtual
shutdown in new home construction. According to the U.S. Census Bureau, across the
Hudson Valley, 493 single-family home construction permits were issued during the first
seven months of the year; 80 multifamily-unit construction permits were issued. At this
current rate of activity, housing construction in the region will have recorded a substantial
year-over-year decline. It should 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, singlefamily home construction nationwide and in New York State is down year-over-year
35.60% and 32.94%, respectively.
Across the region, the largest multifamily project is a $23 million, 170-unit onebuilding complex in Yonkers, Westchester. All other multifamily projects in the region
are nine- to two-unit single buildings. Of the smaller projects, Orange County reported
the most activity, with 12 single-building multifamily complexes. The average
construction cost of the smaller projects is $390,000 per building, $97,000 per unit.
County
Orange
Multi-Family Construction Permits January - July 2009: Source U.S. Census Bureau
Value of
Average
Number of
Number of
Construction
Construction
Town/Village
Building
Units
Permit
Cost per Unit
Kiryas Joel Village
6
34
$3,689,445
Montgomery Village
1
5
$255,208
$108,513
$51,042
Montgomery Village
2
10
$510,416
$51,042
Wallkill Town
2
6
$784,348
$130,725
Wawayanda Town
1
5
$409,657
$81,931
12
60
$5,649,074
Sullivan
Fallsburg Town
3
6
$200,806
$33,468
Thompson Town
2
4
$130,000
$32,500
5
10
$330,806
Rockland
Spring Valley Village
1
2
$240,000
Kaser Village
1
7
$663,194
$120,000
$94,742
Ramapo Town
1
3
$535,200
$178,400
3
12
$1,438,394
Yonkers
3
174
$22,978,550
$132,061
White Plains
1
6
$600,000
$100,000
4
180
$23,578,550
Westchester
Ulster
Saugerties Town
1
2
$215,000
$107,500
Shawangunk Town
1
2
$260,000
$130,000
2
4
$475,000
8
Regional Inflation
► Regional inflation exceeds the U.S. city average
►Food, energy, gasoline and service prices fall
The all-item CPI (prices of all goods and services) in the New York-Northern
New Jersey-Long Island MSA decreased .02% between the second quarter of 2008 and
the second quarter of 2009.
Year-Over-Year Change in Inflation
Of this total, food increased
3.09%, owners’ equivalent
6.00%
rent increased 3.12%,
5.00%
medical advanced .49% and
4.00%
household energy and
3.00%
gasoline declined 9.98%
2.00%
1.00%
and 37.42%, respectively.
0.00%
Over the same time period,
-1.00%
core inflation—all items
-2.00%
less food and energy—
Dec Jan
Jan
2007 2008
2009
increased 2.32%. The all% Change NY/NJ CPI-U
% Change US Cities CPI-U
item CPI index for the U.S.
City Average declined
1.15% between the second quarter of 2008 and the second quarter of 2009. Of this total,
food increased 2.72%, owners’ equivalent rent increased 2.03%, medical advanced
1.55% and household energy and gasoline declined 12.70% and 30.00%, respectively.
Over the same time period, core inflation—all items less food and energy—increased
2.32%. Historically, food and housing has the largest impact on the typical household
budget at 30% of total personal expenditures, followed by medical
costs at 18% of total personal expenditures.
12 Month Quarter-to
Quarter Percentage
Change
New York-Northern NJ- Long Island
Aug 09 2009:02 2009:01 2008:04
Aug 09
U.S. City Average
2009:02 2009:01
2008:04
Core
1.40%
2.32%
2.62%
2.96%
1.40%
1.82%
1.74%
1.99%
All Items
-.09%
.02%
1.30%
2.69%
-1.50%
-1.15%
-.067%
1.60%
Food
Rent Primary
Residence
Owners Equivalent
Rent
.90%
3.09%
5.53%
6.54%
.40%
2.72%
4.83%
6.06%
3.00%
5.11%
5.37%
5.52%
2.00%
2.91%
3.30%
3.56%
2.20%
3.12%
3.47%
3.47%
1.70%
2.03%
2.13%
2.27%
Household Energy
-16.5%
-9.98%
.19%
6.86%
-12.7%
-8.17%
2.54%
7.92%
Gasoline
-28.5%
-37.42%
-38.73%
-18.53%
-30.00%
-24.77%
-38.43
-20.17%
Medical
.30%
.49%
.10%
1.13%
3.33%
2.72%
2.73%
3.13%
Services
1.0%
2.40%
3.43%
3.70%
.70%
1.55%
2.60%
3.24%
9
Sales Tax Collection
One indicator of
Percent Change in Sales Tax Collection: 2008:02-2009:02
retail sales activity is sales
3.66%
tax collection. Across the
region, total sales tax
0.26%
0.01%
collection declined 8.16%
year-over-year. Within the
region, year-over-year sales
-5.59%
tax collection was for all
-7.65%
-8.16%
-9.20%
-9.45%
intents and purposes
unchanged in Columbia and
-13.43%
-13.57%
Sullivan. Sales tax
C o lumbia D utchess
Greene
Orange
P utnam R o ckland Sullivan
Ulster Westchester H udso n
Valley
collection increased 3.66%
in Rockland and witnessed
double-digit declines in Putnam and Westchester.
Ω
10
Labor Force, Employment and the Unemployment Rate for Hudson Valley Counties
Average Quarterly 2008:02 - 2009:02
2009
2008
2007
% Change % Change
County
Columbia
Jul-09
32,087
31,207
5.88%
0.00%
Employment
30,562
29,597
28,683
29,668
31,055
30,645
29,855
2.37%
-1.59%
7.5%
7.41%
7.80%
5.30%
4.85%
4.49%
5.90%
27.12%
Labor Force
149,226
147,577
146,743
146,713
148,195
147,052
147,794
0.97%
0.00%
Employment
137,329
136,569
135,592
138,435
140,244
140,023
142,049
-3.32%
-3.32%
8.0%
7.46%
7.60%
5.64%
5.37%
4.78%
3.90%
105.13%
Labor Force
25,090
24,015
24,447
23,811
24,850
24,113
24,202
3.67%
0.00%
Employment
23,022
21,927
22,286
22,216
23,432
22,788
22,970
0.23%
-1.75%
8.2%
8.73%
8.80%
6.70%
5.70%
5.50%
5.10%
60.78%
Labor Force
183,691
181,939
180,463
180,561
182,294
180,939
178,558
2.87%
0.00%
Employment
168,462
167,530
166,333
169,819
172,039
171,767
171,049
-1.51%
-2.08%
8.3%
7.93%
7.87%
5.97%
5.60%
5.07%
4.20%
97.62%
Labor Force
58,062
56,634
55,955
56,038
57,220
56,458
56,380
2.98%
0.00%
Employment
54,064
52,913
52,295
53,318
54,513
54,121
54,534
-0.86%
-0.86%
6.9%
6.57%
6.57%
4.83%
4.73%
4.13%
3.30%
109.09%
Labor Force
160,577
156,412
154,145
154,740
158,126
155,815
152,444
5.34%
0.00%
Employment
148,707
145,541
143,841
146,655
149,941
148,864
146,690
1.38%
-0.82%
7.4%
6.97%
6.70%
5.23%
5.17%
4.43%
3.80%
94.74%
Labor Force
37,714
35,712
35,016
35,396
37,139
35,682
34,973
7.84%
0.00%
Employment
34,718
32,646
31,463
32,777
34,914
33,532
32,970
5.30%
-0.56%
7.9%
8.57%
9.77%
7.40%
6.00%
6.03%
5.60%
41.07%
Labor Force
92,613
91,726
90,204
90,115
91,150
91,301
92,391
0.24%
0.00%
Employment
85,114
84,777
83,017
84,734
85,924
86,759
88,385
-3.70%
-3.70%
8.1%
7.74%
7.97%
5.97%
5.73%
4.97%
4.30%
88.37%
Unemployment Rate
Ulster
12-07:7-09 From Peak
32,637
Unemployment Rate
Sullivan
Dec-07
31,329
Unemployment Rate
Rockland
2nd
31,108
Unemployment Rate
Putnam
3rd
31,965
Unemployment Rate
Orange
4th
33,043
Unemployment Rate
Greene
1st
Labor Force
Unemployment Rate
Dutchess
2nd
Unemployment Rate
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
11
9/29/2009
Labor Force, Employment and the Unemployment Rate for Hudson Valley Counties
Average Quarterly 2008:02 - 2009:02
2009
2008
2007
% Change % Change
County
Westchester
Jul-09
Columbia and Greene
12-07:7-09 From Peak
503,320
496,161
485,933
5.20%
0.00%
Employment
473,871
463,784
458,365
467,332
477,803
474,370
467,908
1.27%
-0.82%
7.3%
7.00%
7.13%
5.33%
5.07%
4.37%
3.70%
97.30%
Labor Force
1,251,224
1,224,701
1,211,704
1,212,489
1,234,932
1,219,610
1,203,882
3.93%
0.00%
Employment
1,155,849
1,135,283
1,121,876
1,144,955
1,169,865
1,162,870
1,156,410
-0.05%
-1.20%
7.62%
7.30%
7.41%
5.57%
5.27%
4.65%
3.94%
93.47%
Labor Force
9,923,586
9,756,928
9,698,652
9,691,113
9,769,982
9,656,840
9,536,673
4.06%
0.00%
Employment
9,066,268
8,974,394
8,919,843
9,090,485
9,224,597
9,188,920
9,087,015
-0.23%
-1.72%
9.46%
8.00%
8.03%
6.20%
5.60%
4.83%
4.70%
101.19%
Labor Force
156,255,000
154,697,000
153,659,000
154,615,333
154,509,000
154,293,667
153,124,000
2.04%
0.00%
Employment
141,055,000
140,591,667
140,124,667
144,230,333
145,517,000
146,089,333
146,211,000
-3.53%
-3.53%
9.7%
9.13%
8.80%
4.40%
5.97%
5.33%
5%
94.00%
Labor Force
729,847
711,768
703,724
704,564
718,667
708,435
694,757
5.05%
0.00%
Employment
676,642
662,238
654,501
667,305
682,256
677,355
669,132
1.12%
-0.82%
7.29%
6.96%
6.99%
5.29%
5.07%
4.39%
3.69%
97.65%
Labor Force
4,083,500
4,003,160
3,987,673
3,980,255
3,973,498
3,923,762
3,872,009
5.46%
0.00%
Employment
3,681,400
3,658,637
3,670,122
3,714,793
3,739,395
3,736,350
3,672,236
0.25%
-1.55%
9.8%
8.60%
7.97%
6.70%
5.87%
4.77%
5.20%
88.46%
Labor Force
521,377
512,934
507,980
507,925
516,265
511,175
509,125
2.41%
0.00%
Employment
479,207
473,045
467,375
477,650
487,609
485,514
487,278
-1.66%
-1.72%
Unemployment Rate
8.09%
7.78%
7.99%
5.96%
5.55%
5.02%
4.29%
88.49%
Labor Force
58,133
55,980
55,555
55,140
57,487
56,200
55,409
4.92%
0.00%
Employment
53,584
51,524
50,969
51,884
54,487
53,433
52,825
1.44%
-1.66%
Unemployment Rate
7.83%
7.96%
8.25%
5.90%
5.22%
4.92%
4.66%
67.80%
Unemployment Rate
Upper Hudson Valley
Dec-07
493,786
Unemployment Rate
New York City
2nd
493,624
Unemployment Rate
Lower Hudson Valley
3rd
498,721
Unemployment Rate
U.S.
4th
511,208
Unemployment Rate
New York State
1st
Labor Force
Unemployment Rate
Total Hudson Valley
2nd
Albany-
Labor Force
463,253
459,134
456,197
454,556
462,837
460,557
449,812
2.99%
0.00%
Schenectady-Troy
Employment
430,396
427,300
422,844
430,170
439,744
439,229
431,374
-0.23%
-2.13%
7.10%
6.93%
7.33%
5.37%
5.00%
4.63%
4.10%
73.17%
Unemployment Rate
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
12
9/29/2009
Quarter-to-Quarter % Change (from Previous Year) in Labor Force
for the Hudson Valley 2001:01- 2009:02
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
2.00%4.00%6.00%2001
2002
2003
Hudson Valley
2004
2005
New York State
Source: NYS Department of Labor Place of Residence Series
Compiled by Bureau of Economic Research, School of Management, Marist College
2006
2007
2008
2009
United States
9/29/2009
13
Employment Data by Industry: Levels
CES Data (,000)
MSAs
Rockland/Westchester/
Putnam
Dutchess/Orange
United States
Jul-09
Dec-07
21,282.0
22,738.0
100.1
97.5
50.2
52.4
Federal Government
2,859.0
2,757.0
5.5
5.5
6.6
State Government
4,867.0
5,242.0
14.5
14.2
Local Government
0.1
0.1
80.1
13,556.0
14,739.0
19,015.0
Total Government
Local Government Education
Goods Producing
Service-Providing
Jul-09
Dec-07
Jul-09
Dec-07
Minor Counties
Columbia
Jul-09
5.0
Greene
Dec-07
5.3
Jul-09
4.9
Sullivan
Dec-07
4.8
Jul-09
6.5
Ulster
Dec-07
6.7
Jul-09
Dec-07
15.2
15.8
6.4
0.4
0.5
9.3
9.6
4.7
4.8
77.8
34.3
36.4
10.1
10.5
36.9
45.5
19.7
23.3
4.8
6.3
21,904.0
66.9
71.0
30.3
33.9
2.6
2.9
1.8
1.9
2.9
2.8
6.5
7.1
112,167.0 116,971.0
512.4
522.2
217.3
223.6
18.7
18.7
13.3
13.6
25.2
23.6
55.6
57.2
Manufacturing
11,850.0
13,776.0
29.3
31.7
18.7
22.0
1.5
1.8
1.0
1.0
1.4
1.4
3.7
4.2
Trade, Transportation, and Utilities
25,177.0
27,379.0
104.3
116.4
54.2
56.1
3.7
3.9
3.1
3.3
4.4
4.5
11.8
13.4
Wholesale Trade
5,699.0
6,053.7
23.6
24.8
9.3
9.8
1.3
1.4
Transportation and Warehousing
4,166.7
4,612.6
16.2
18.9
8.0
9.0
1.4
1.9
Retail Trade
14,741.0
16,156.4
64.5
72.7
35.7
36.1
9.1
10.1
Information
2,847.0
3,039.0
15.1
16.2
4.6
4.6
0.3
0.3
0.2
0.2
0.3
0.2
1.0
1.1
Financial Activities
7,805.0
8,232.0
35.8
36.9
9.2
9.5
0.6
0.6
0.4
0.4
1.3
1.4
2.5
2.7
Finance and Insurance
5,769.3
6,078.5
23.6
24.8
6.1
6.7
Professional and Business Services
7,587.7
7,839.9
71.5
73.8
21.1
21.2
1.5
1.7
0.5
0.6
1.4
1.5
4.4
4.4
13,851.0
13,244.0
47.5
42.7
20.8
19.5
2.2
1.6
2.6
2.5
4.3
2.4
7.5
6.8
Health Care and Social Assistance
Leisure and Hospitality
Data Source: New York State Department of Labor
Complied by: Marist College SOM, Bureau of Economic Research
14
10/1/2009
Employment Data by Industry: Percent of Non-Farm Employment
CES Data
United States
Jul-09
Total Government
Dec-07
MSAs
Rockland/Westchester/
Putnam
Dutchess/Orange
Jul-09
Dec-07
Jul-09
Dec-07
16.22%
16.37%
17.28%
16.44%
20.27%
20.15%
Federal Government
2.18%
1.99%
0.95%
0.93%
2.67%
State Government
3.71%
3.77%
2.50%
2.39%
Local Government
10.33%
10.61%
13.83%
5.22%
6.04%
Goods Producing
14.50%
Service-Providing
Minor Counties
Columbia
Jul-09
31.17%
Jul-09
23.13%
Dec-07
25.38%
Jul-09
Dec-07
2.46%
0.64%
0.01%
3.76%
3.69%
7.57%
7.47%
13.12%
13.85%
13.99%
16.26%
16.33%
6.37%
7.67%
7.96%
8.96%
7.73%
9.79%
15.70%
11.55%
11.97%
12.24%
13.03%
12.21%
13.43%
11.92%
12.33%
10.32%
10.60%
10.47%
11.02%
85.39%
14.34%
88.45%
88.03%
87.76%
86.97%
87.79%
86.57%
88.07%
88.30%
89.68%
89.39%
89.53%
88.90%
9.05%
9.92%
5.06%
5.34%
7.55%
8.30%
7.04%
8.33%
6.62%
6.49%
4.98%
5.30%
5.96%
6.53%
19.19%
19.71%
18.00%
19.62%
21.89%
22.71%
17.37%
18.06%
20.05%
21.42%
15.66%
17.04%
19.00%
20.83%
Wholesale Trade
4.61%
4.36%
4.07%
4.18%
3.76%
3.88%
2.09%
2.18%
Transportation and Warehousing
3.18%
11.63%
2.80%
3.19%
3.23%
4.08%
2.25%
2.95%
Retail Trade
11.24%
3.32%
11.13%
12.26%
14.42%
14.99%
14.65%
15.70%
Information
2.17%
2.19%
2.61%
2.73%
1.86%
1.77%
1.41%
1.39%
1.30%
1.07%
0.76%
1.61%
1.71%
Financial Activities
5.95%
5.93%
6.18%
6.22%
3.72%
3.77%
2.82%
2.78%
2.59%
4.60%
5.30%
4.26%
4.20%
Finance and Insurance
4.30%
4.38%
4.07%
4.18%
2.46%
2.58%
Professional and Business Services
5.78%
5.65%
12.34%
12.44%
8.52%
8.15%
7.04%
7.87%
3.31%
3.89%
4.98%
5.68%
7.08%
6.84%
10.44%
9.54%
8.20%
7.20%
8.40%
7.50%
10.33%
7.41%
17.21%
16.23%
15.30%
9.09%
12.08%
10.57%
Trade, Transportation, and Utilities
32.45%
Dec-07
Ulster
24.57%
Manufacturing
24.54%
Jul-09
Sullivan
24.48%
Local Government Education
23.47%
Dec-07
Greene
Health Care and Social Assistance
Leisure and Hospitality
Data Source: New York State Department of Labor
Complied By: Marist College, SOM, Bureau of Economic Research
15
10/1/2009
Dutchess and Orange Counties: 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
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
Jul-09
247.6
197.4
50.2
6.6
9.3
34.3
19.7
30.3
217.3
167.1
50.2
18.7
54.2
9.3
8.0
35.7
7.2
4.9
5.7
4.6
9.2
6.1
21.1
10.1
37.4
8.8
20.8
16.8
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
2009:02
251.4
198.2
53.2
6.5
9.4
37.3
23.8
30.4
221.0
167.8
53.2
21.1
54.4
9.3
8.5
35.5
7.1
4.9
5.7
4.5
9.1
6.1
21.1
12.0
37.5
8.7
19.6
16.0
2009:01
248.9
195.7
53.2
6.5
9.5
37.2
23.8
30.0
218.9
165.7
53.2
21.1
54.5
9.2
8.5
35.7
7.1
5.0
5.8
4.5
9.4
6.2
20.9
11.9
37.1
8.7
18.1
15.0
2008:04
258.1
205.0
53.1
6.5
9.6
37.0
24.0
32.4
225.7
172.5
53.1
21.7
57.8
9.6
9.0
38.0
7.2
4.9
5.9
4.7
9.4
6.4
21.6
12.4
37.3
8.8
19.5
15.9
2008:03
254.4
203.7
50.7
6.6
9.8
34.4
20.4
35.0
221.2
170.5
50.7
22.0
56.0
9.7
8.8
36.3
7.3
5.3
5.8
4.7
9.6
6.4
21.7
10.1
36.1
8.9
21.7
17.1
2009:02
256.6
203.4
53.2
6.5
9.8
36.9
23.8
34.3
223.6
170.4
53.2
22.0
56.1
9.8
9.0
36.1
7.3
5.0
5.7
4.6
9.5
6.4
21.6
11.4
36.8
8.9
20.5
16.5
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
Percent change 7-09 and peak of
7-09 and near
last Business
term low
Cycle
-0.52%
0.85%
0.00%
3.12%
0.00%
0.00%
0.00%
0.90%
0.00%
0.84%
0.00%
0.00%
0.00%
1.09%
0.00%
0.56%
0.98%
0.62%
0.00%
2.22%
1.10%
0.00%
0.81%
0.00%
3.66%
1.15%
6.67%
12.00%
-4.81%
-4.96%
-4.20%
3.12%
-3.12%
-5.77%
-15.45%
-10.62%
-3.93%
-3.86%
-4.20%
-13.43%
-8.24%
-7.92%
-24.53%
-8.46%
-1.37%
-14.04%
-13.64%
0.00%
-6.12%
-8.96%
-0.47%
-12.93%
1.91%
-1.12%
6.67%
5.00%
9/29/2009
16
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
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
Jul-09
579.3
479.2
100.1
5.5
14.5
80.1
36.9
66.9
512.4
412.3
100.1
29.3
104.3
23.6
16.2
64.5
14.6
7.5
8.8
15.1
35.8
23.6
71.5
22.2
90.8
19.5
47.5
33.6
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
17
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
Percent change 7-09 and peak of
7-09 and near
last Business
term low
Cycle
2.54%
2.37%
3.41%
0.00%
2.11%
3.89%
-17.63%
4.04%
2.35%
2.11%
3.37%
-1.79%
-1.01%
0.43%
-7.43%
0.31%
0.00%
-5.06%
-2.22%
0.00%
1.13%
-0.42%
3.62%
-11.55%
1.23%
1.04%
19.95%
9.45%
-2.34%
-3.33%
2.67%
0.00%
2.11%
2.96%
-18.90%
-5.77%
-1.88%
-2.92%
2.67%
-7.57%
-10.40%
-4.84%
-14.29%
-11.28%
-2.67%
-28.57%
-24.79%
-6.79%
-2.98%
-4.84%
-3.12%
-10.84%
2.25%
3.17%
11.24%
3.38%
9/29/2009
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
Manufacturing
Trade, Transportation, and Utilities
Wholesale Trade
Transportation and Warehousing
Retail Trade
Natural Resources, Mining and Construc
Information
Financial Activities
Finance and Insurance
Professional and Business Services
Educational Health Services
Health Care and Social Assistance
Hospitals
Leisure and Hospitality
Jul-09
62.1
46.9
15.2
0.4
4.7
10.1
4.8
6.5
55.6
40.4
15.2
3.7
11.8
1.3
1.4
9.1
2.8
1.0
2.5
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
2.7
1.0
2.5
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
2.5
1.0
2.5
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
2.8
1.0
2.6
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
2.9
1.0
2.7
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
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
10.5
4.6
10.6
4.1
10.5
4.1
10.6
4.2
10.4
4.7
10.4
7.5
7.1
6.5
7.1
7.6
7.3
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
18
Percent change 7Percent change 7- 09 and peak of
09 and near term last Business
low
Cycle
1.31%
3.53%
-3.80%
-20.00%
-2.08%
-3.81%
-23.81%
3.17%
1.46%
3.59%
-3.80%
-2.63%
-0.84%
0.00%
-17.65%
2.25%
12.00%
0.00%
0.00%
-3.42%
-3.30%
-3.80%
-20.00%
-2.08%
-3.81%
-23.81%
-8.45%
-2.80%
-2.42%
-3.80%
-11.90%
-11.94%
-7.14%
-26.32%
-9.90%
-3.45%
-9.09%
-7.41%
4.4
10.3
7.32%
0.00%
0.00%
1.94%
6.8
15.38%
10.29%
9/29/2009
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, 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
Jul-09
21.3
16.3
5.0
2009:02
2009:01
2008:04
2008:03
2008:02
20.9
15.8
5.0
20.1
15.1
4.9
21.2
16.1
5.0
21.6
16.7
5.0
21.5
16.3
5.1
Dec-07
21.6
16.2
5.3
2.6
18.7
13.7
5.0
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
2.9
18.8
13.8
5.0
1.7
3.8
2.9
18.6
13.5
5.1
1.7
3.8
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
1.5
4.4
1.5
4.5
1.4
4.4
1.6
4.5
2.2
1.7
1.3
1.6
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
19
Percent change 7Percent change 7- 09 and peak of
09 and near term last Business
low
Cycle
5.97%
7.95%
2.04%
-1.39%
0.62%
-5.66%
2.9
18.7
13.4
5.3
1.8
3.9
4.00%
6.25%
7.87%
2.04%
-6.25%
0.00%
-10.34%
0.00%
2.24%
-5.66%
-16.67%
-5.13%
1.2
0.3
0.6
1.1
0.3
0.6
22.22%
0.00%
20.00%
0.00%
0.00%
0.00%
1.6
4.4
1.6
4.5
1.7
4.3
7.14%
0.00%
-11.76%
2.33%
2.1
1.7
1.6
69.23%
37.50%
9/29/2009
Greene 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
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
Jul-09
15.1
10.2
4.9
2009:02
2009:01
2008:04
2008:03
2008:02
Percent change 7-09
and near term low
Percent change 7-09
and peak of last
Business Cycle
1.34%
0.00%
4.26%
-1.95%
-4.67%
2.08%
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
1.8
13.3
8.4
4.9
1.0
3.1
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
1.9
13.6
8.8
4.8
1.0
3.3
20.00%
-0.75%
-3.45%
4.26%
0.00%
0.00%
-5.26%
-2.21%
-4.55%
2.08%
0.00%
-6.06%
0.8
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
0.8
0.2
0.4
0.9
0.2
0.4
60.00%
0.00%
0.00%
-11.11%
0.00%
0.00%
0.5
1.2
0.5
1.3
0.5
1.3
0.6
1.3
0.6
1.3
0.6
1.3
0.6
1.4
0.00%
-7.69%
-16.67%
-14.29%
2.6
2.1
2.8
2.2
2.6
2.1
2.5
-7.14%
4.00%
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
20
9/29/2009
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
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
Jul-09
28.1
21.6
6.5
2009:02
2009:01
2008:04
2008:03
2008:02
26.4
19.6
6.8
25.1
18.5
6.6
26.7
20.0
6.7
28.1
21.6
6.6
26.9
20.1
6.8
Dec-07
26.4
19.7
6.7
2.9
25.2
18.7
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
2.8
25.4
18.8
6.6
1.3
4.6
2.7
24.2
17.4
6.8
1.3
4.4
1.5
0.3
1.3
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
5.7
1.4
5.7
1.4
5.6
1.5
5.8
4.3
2.8
2.2
2.7
Source: NY State Department of Labor-Current Employment Survey
Complied by Bureau of Economic Research, Marist College
21
Percent change 7Percent change 7- 09 and peak of
09 and near term last Business
low
Cycle
11.95%
16.76%
-1.52%
6.44%
9.64%
-2.99%
2.8
23.6
16.9
6.7
1.4
4.5
20.83%
11.01%
16.15%
-1.52%
7.69%
4.76%
3.57%
6.78%
10.65%
-2.99%
0.00%
-2.22%
1.4
0.2
1.4
1.4
0.2
1.4
36.36%
50.00%
0.00%
7.14%
50.00%
-7.14%
1.5
5.7
1.5
5.7
1.5
5.7
0.00%
1.79%
-6.67%
0.00%
3.9
2.8
2.4
95.45%
79.17%
9/29/2009
Total U.S. NonFarm Employees
(Seasonally Adjusted in Thousands)
Month
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2009
134,333
133,652
133,000
132,481
132,178
131,715
131,439
131,223
Average
% Change
2008
2007
2006
2005
2004
138,080
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
137,400
137,435
137,591
137,645
137,580
137,552
137,652
137,817
138,032
138,152
135,155
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
132,841
133,153
133,365
133,624
133,946
134,136
134,223
134,321
134,701
134,861
130,420
130,463
130,801
131,051
131,361
131,442
131,489
131,610
131,770
132,121
132,185
132,317
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
Jan-Feb
Feb-Mar
Mar-Apr
Apr-May
May-Jun
Jun-Jul
Jul-Aug
Aug-Sep
Sep-Oct
Oct-Nov
Nov-Dec
Dec-Jan
Total
Average
2009
2008
(681)
(652)
(519)
(303)
(463)
(276)
(216)
2007
(144)
(122)
(160)
(137)
(161)
(128)
(175)
(321)
(380)
(597)
(681)
(741)
36
184
35
156
54
(65)
(28)
100
165
215
120
(150)
(3,747)
(312)
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.
9/29/2009
22
Average Weekly Earnings of Manufacturing Workers
$775.00
$725.00
Dollars
$675.00
$625.00
`
$575.00
$525.00
$475.00
$425.00
2002
2003
2004
2005
2006
NYC
NYS
2007
2008
2009
USA
Length of Average Work Week for Manufacturing Workers
43
42
41
Hours
40
39
38
37
36
35
34
2002
2003
2004
2005
2006
NYC
NYS
Source: Bureau of Labor Statistics
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
23
2007
2008
2009
USA
9/29/2009
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
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
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
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
24
9/29/2009
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
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
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
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
25
9/29/2009
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
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
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
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
26
9/29/2009
Total Temporary Assistance- Recipients
Monthly Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007
Columbia
805
725
666
682
681
616
Dutchess
2,499
2,408
2,276
2,257
2,162
2,212
Greene
891
889
815
792
802
792
Orange
5,665
5,221
4,966
4,960
4,880
4,684
Putnam
112
102
104
127
135
124
Rockland
2,523
2,443
2,343
2,373
2,376
2,315
Sullivan
1,839
1,691
1,599
1,422
1,514
1,303
Ulster
2,640
2,509
2,333
2,236
2,249
2,370
Westchester
13,386
13,019
13,026
13,071
12,736
12,890
Hudson Valley
30,360
29,007
28,128
27,920
27,536
27,306
New York City
342,031
340,007
338,058
334,771
342,776
348,414
New York State
522,713
516,398
509,801
503,614
512,268
516,298
Percentage Change:Monthy Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007 to
2009:02
Columbia
11.1%
8.8%
-2.3%
0.1%
-2.0%
30.74%
Dutchess
3.8%
5.8%
0.9%
4.4%
3.1%
12.99%
Greene
0.2%
9.1%
2.9%
-1.2%
4.0%
12.50%
Orange
8.5%
5.1%
0.1%
1.6%
2.9%
20.94%
Putnam
10.2%
-1.9%
-18.6%
-5.9%
2.5%
-9.68%
Rockland
3.2%
4.3%
-1.3%
-0.1%
-1.1%
8.97%
Sullivan
8.7%
5.8%
12.5%
-6.1%
-0.4%
41.14%
Ulster
5.2%
7.5%
4.4%
-0.6%
-3.8%
11.41%
Westchester
2.8%
-0.1%
-0.3%
2.6%
-0.3%
3.85%
Hudson Valley
4.7%
3.1%
0.7%
1.4%
0.2%
11.19%
New York City
0.6%
0.6%
1.0%
-2.3%
-0.6%
-1.83%
New York State
1.2%
1.3%
1.2%
-1.7%
-0.5%
1.24%
Source: New York State Office of Temporary and Disability Assistance
Compiled by: Bureau of Economic Research, Marist College
27
9/29/2009
Total Temporary Assistance- Expenditures
Monthly Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007
Columbia
$355,504
$250,603
$231,427
$229,616
$238,835
$147,507
Dutchess
$1,105,929
$1,035,853
$852,172
$1,062,894
$954,017
$932,340
Greene
$272,868
$248,708
$235,962
$214,200
$230,606
$219,399
Orange
$2,305,102
$1,957,117
$1,826,474
$2,010,841
$2,167,715
$1,759,145
Putnam
$60,066
$53,563
$54,596
$71,686
$65,368
$54,391
Rockland
$796,770
$774,647
$762,706
$735,318
$749,598
$912,368
Sullivan
$679,113
$593,096
$548,764
$528,427
$559,569
$571,176
Ulster
$1,024,602
$965,802
$854,775
$872,003
$878,252
$1,002,493
Westchester
$7,002,876
$6,410,749
$6,495,212
$7,552,282
$6,814,096
$7,143,591
Hudson Valley
$13,602,830
$12,290,137
$11,862,088
$13,271,740
$12,663,763
$12,742,410
New York City
$106,314,878
$106,154,667
$106,540,333
$107,230,333
$114,342,667
$101,812,000
New York State
$163,065,049
$160,656,245
$158,852,065
$159,979,700
$168,356,596
$160,080,182
Percentage Change:Monthy Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007 to
2009:02
Columbia
41.9%
8.3%
0.8%
-3.9%
-9.9%
141.01%
Dutchess
6.8%
21.6%
-19.8%
11.4%
1.0%
18.62%
Greene
9.7%
5.4%
10.2%
-7.1%
11.8%
24.37%
Orange
17.8%
7.2%
-9.2%
-7.2%
24.1%
31.04%
Putnam
12.1%
-1.9%
-23.8%
9.7%
8.3%
10.43%
2.9%
1.6%
3.7%
-1.9%
-2.8%
-12.67%
14.5%
8.1%
3.8%
-5.6%
-8.6%
18.90%
Ulster
6.1%
13.0%
-2.0%
-0.7%
-2.5%
2.21%
Westchester
9.2%
-1.3%
-14.0%
10.8%
-3.4%
-1.97%
Hudson Valley
10.7%
3.6%
-10.6%
4.8%
0.7%
6.75%
New York City
0.2%
-0.4%
-0.6%
-6.2%
11.3%
4.42%
New York State
1.5%
1.1%
-0.7%
-5.0%
5.1%
1.86%
Rockland
Sullivan
Source: New York State Office of Temporary and Disability Assistance
Compiled by: Bureau of Economic Research, Marist College
28
9/29/2009
Food Stamps - Recipients
Monthly Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007
Columbia
4,053
3,734
3,392
3,209
3,211
2,970
Dutchess
15,822
14,617
13,528
12,720
12,212
11,382
Greene
4,529
4,246
3,892
3,657
3,560
3,400
Orange
30,029
28,477
26,871
25,731
24,833
23,502
Putnam
1,394
1,200
1,091
1,052
1,027
982
27,689
26,228
24,914
24,119
23,397
22,324
8,541
8,060
7,495
7,125
7,071
6,762
Ulster
13,977
12,833
11,667
10,821
10,516
9,862
Westchester
52,322
49,228
46,735
45,066
43,466
41,717
158,355
148,622
139,584
133,500
129,292
122,901
New York City
1,473,358
1,391,018
1,332,464
1,278,266
1,228,069
1,129,368
New York State
2,383,662
2,251,234
2,141,884
2,053,351
1,986,287
1,849,851
Rockland
Sullivan
Hudson Valley Total
Percentage Change:Monthy Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007 to
2009:02
Columbia
8.55%
10.07%
5.71%
-0.07%
4.30%
36.46%
Dutchess
8.24%
8.05%
6.35%
4.16%
3.96%
39.01%
Greene
6.68%
9.09%
6.43%
2.72%
1.41%
33.22%
Orange
5.45%
5.98%
4.43%
3.62%
3.64%
27.77%
Putnam
16.17%
9.99%
3.68%
2.40%
1.05%
41.92%
Rockland
5.57%
5.28%
3.29%
3.09%
3.35%
24.03%
Sullivan
5.97%
7.54%
5.19%
0.77%
2.12%
26.31%
Ulster
8.91%
9.99%
7.82%
2.90%
3.45%
41.73%
Westchester
6.29%
5.33%
3.70%
3.68%
2.66%
25.42%
Hudson Valley Total
6.55%
6.47%
4.56%
3.25%
3.12%
28.85%
New York City
5.92%
4.39%
4.24%
4.09%
2.32%
30.46%
New York State
5.88%
5.11%
4.31%
3.38%
2.55%
28.86%
Data: New York State Office of Temporary and Disability Assistance
Compiled by: Bureau of Economic Research, Marist College
29
9/29/2009
Food Stamps - Expenditures
Monthly Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007
Columbia
$592,379
$458,626
$402,824
$315,594
$313,808
$294,006
Dutchess
$2,332,674
$1,824,290
$1,653,254
$1,305,677
$1,262,671
$1,187,670
Greene
$642,846
$515,742
$456,543
$362,400
$350,448
$340,713
Orange
$4,409,160
$3,636,373
$3,297,824
$2,692,236
$2,622,313
$2,508,410
Putnam
$200,668
$146,385
$126,957
$87,963
$89,041
$82,545
Rockland
$3,981,932
$3,231,269
$2,995,298
$2,464,282
$2,390,172
$2,299,166
Sullivan
$1,220,088
$984,373
$902,241
$658,438
$651,910
$642,660
Ulster
$2,006,079
$1,568,365
$1,413,625
$1,085,588
$1,039,639
$1,003,238
Westchester
$7,729,591
$6,220,940
$5,792,617
$4,795,002
$4,590,614
$4,452,015
$23,115,417
$18,586,363
$17,041,183
$13,767,181
$13,310,617
$12,810,423
New York City
$236,010,130
$191,086,940
$183,774,735
$146,713,495
$142,328,074
$137,456,394
New York State
$366,093,812
$295,519,287
$279,354,584
$224,341,487
$218,448,308
$210,768,403
Hudson Valley Total
Percentage Change:Monthy Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007 to
2009:02
Columbia
29.16%
13.85%
27.64%
0.57%
3.37%
-32.84%
Dutchess
27.87%
10.35%
26.62%
3.41%
3.38%
-34.53%
Greene
24.64%
12.97%
25.98%
3.41%
0.65%
-37.11%
Orange
21.25%
10.27%
22.49%
2.67%
4.16%
-41.41%
Putnam
37.08%
15.30%
44.33%
-1.21%
3.93%
-18.97%
Rockland
23.23%
7.88%
21.55%
3.10%
2.90%
-42.27%
Sullivan
23.95%
9.10%
37.03%
1.00%
-0.84%
-36.72%
Ulster
27.91%
10.95%
30.22%
4.42%
3.51%
-33.35%
Westchester
24.25%
7.39%
20.81%
4.45%
2.66%
-42.13%
Hudson Valley Total
24.37%
9.07%
23.78%
3.43%
2.92%
-39.85%
New York City
23.51%
3.98%
25.26%
3.08%
3.42%
-42.77%
New York State
23.88%
5.79%
24.52%
2.70%
3.16%
-42.10%
Data: New York State Office of Temporary and Disability Assistance
Compiled by: Bureau of Economic Research, Marist College
30
9/29/2009
Supplemental Social Security Income- Recipients
Monthly Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007
Columbia
1,545
1,541
1,514
1,502
1,510
1,498
Dutchess
4,845
4,781
4,705
4,688
4,677
4,666
Greene
1,271
1,288
1,262
1,260
1,239
1,232
Orange
6,423
6,401
6,357
6,343
6,245
6,135
Putnam
825
827
834
838
826
803
Rockland
4,750
4,699
4,661
4,626
4,582
4,522
Sullivan
2,485
2,500
2,513
2,530
2,529
2,515
Ulster
4,088
4,077
4,074
4,059
4,026
3,959
Westchester
16,652
16,644
16,590
16,435
16,239
16,160
Hudson Valley
42,883
42,758
42,510
42,280
41,872
41,490
New York City
413,755
412,449
411,101
410,169
409,000
407,295
New York State
665,927
663,229
660,202
657,678
654,460
650,041
Percentage Change:Monthy Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007 to
2009:02
Columbia
0.26%
1.76%
0.82%
-0.55%
0.96%
3.12%
Dutchess
1.35%
1.62%
0.35%
0.24%
-0.20%
3.84%
Greene
-1.37%
2.11%
0.13%
1.72%
0.51%
3.14%
Orange
0.34%
0.69%
0.23%
1.57%
0.86%
4.69%
Putnam
-0.28%
-0.80%
-0.56%
1.49%
1.14%
2.70%
1.07%
0.82%
0.76%
0.96%
0.64%
5.03%
-0.61%
-0.49%
-0.67%
0.04%
-0.08%
-1.19%
Ulster
0.29%
0.06%
0.39%
0.82%
0.40%
3.27%
Westchester
0.05%
0.32%
0.95%
1.20%
0.64%
3.04%
Hudson Valley
0.29%
0.58%
0.54%
0.97%
0.53%
3.36%
New York City
0.32%
0.33%
0.23%
0.29%
0.02%
1.59%
New York State
0.41%
0.46%
0.38%
0.49%
0.21%
2.44%
Rockland
Sullivan
Data: New York State Office of Temporary and Disability Assistance
Compiled by: Bureau of Economic Research, Marist College
31
9/29/2009
Supplemental Social Security Income- Expenditures
Monthly Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007
Columbia
$889,770
$857,496
$776,007
$763,559
$790,566
$783,695
Dutchess
$2,676,873
$2,632,549
$2,476,209
$2,479,700
$2,479,252
$1,880,976
Greene
$682,891
$699,342
$634,171
$631,857
$627,215
$573,588
Orange
$3,420,898
$3,338,624
$3,182,800
$3,198,312
$3,129,023
$3,024,983
Putnam
$414,947
$406,629
$389,692
$406,742
$386,231
$401,210
Rockland
$2,603,057
$2,557,243
$2,382,143
$2,355,146
$2,366,577
$2,240,373
Sullivan
$1,321,088
$1,343,633
$1,257,121
$1,292,645
$1,330,151
$1,275,920
Ulster
$2,227,108
$2,162,945
$2,120,434
$2,158,285
$2,124,732
$2,092,125
Westchester
$8,829,177
$8,684,946
$8,273,940
$8,230,901
$8,230,808
$8,019,659
Hudson Valley
$23,065,809
$22,683,407
$21,492,517
$21,517,146
$21,464,553
$20,292,529
New York City
$237,317,888
$235,382,114
$223,266,292
$222,957,377
$224,760,811
$217,967,166
New York State
$377,346,515
$372,623,744
$353,612,330
$351,600,165
$353,300,585
$340,236,129
Percentage Change:Monthy Average per Quarter
Counties
2009:02
2009:01
2008:04
2008:03
2008:02
Dec 2007 to
2009:02
Columbia
3.76%
10.50%
1.63%
-3.42%
4.71%
13.54%
Dutchess
1.68%
6.31%
-0.14%
0.02%
-1.44%
42.31%
Greene
-2.35%
10.28%
0.37%
0.74%
1.89%
19.06%
Orange
2.46%
4.90%
-0.48%
2.21%
1.19%
13.09%
Putnam
2.05%
4.35%
-4.19%
5.31%
-5.34%
3.42%
Rockland
1.79%
7.35%
1.15%
-0.48%
2.34%
16.19%
-1.68%
6.88%
-2.75%
-2.82%
1.36%
3.54%
Ulster
2.97%
2.00%
-1.75%
1.58%
1.28%
6.45%
Westchester
1.66%
4.97%
0.52%
0.00%
1.57%
10.09%
Hudson Valley
1.69%
5.54%
-0.11%
0.25%
1.19%
13.67%
New York City
0.82%
5.43%
0.14%
-0.80%
0.53%
8.88%
New York State
1.27%
5.38%
0.57%
-0.48%
1.11%
10.91%
Sullivan
Data: New York State Office of Temporary and Disability Assistance
Compiled by: Bureau of Economic Research, Marist College
32
9/29/2009
Sales: Existing Single Family Homes
2008:02-2009:02
2009
County
2nd Q
2008
1st Q
4th Q
% Change
3rd Q
2nd '09 to
1st '09
2nd Q
2nd '09 to
4th '08
2nd '09 to
3rd '08
2nd '09 to
2nd '08
Columbia
74
49
71
121
112
51.02%
4.23%
-38.84%
-33.93%
Dutchess
514
374
492
630
559
37.43%
4.47%
-18.41%
-8.05%
Greene
67
46
55
82
66
45.65%
21.82%
-18.29%
1.52%
Orange
429
310
434
576
507
38.39%
-1.15%
-25.52%
-15.38%
Putnam
130
88
147
199
147
47.73%
-11.56%
-34.67%
-11.56%
Rockland
233
189
287
399
279
23.28%
-18.82%
-41.60%
-16.49%
62
46
96
83
71
34.78%
-35.42%
-25.30%
-12.68%
Ulster
223
134
242
319
237
66.42%
-7.85%
-30.09%
-5.91%
Westchester
705
425
753
1,318
1,002
65.88%
-6.37%
-46.51%
-29.64%
2,437
1,661
2,577
3,727
2,980
46.72%
-5.43%
-34.61%
-18.22%
18,141
11,672
18,518
24,534
20,310
55.42%
-2.04%
-26.06%
-10.68%
4,756,667
4,583,333
4,740,000
5,006,667
3.78%
0.35%
-4.99%
Sullivan
Hudson Valley Total
New York State
**U.S.
N/A
NA
Sales: Existing Single Family Homes
1,400
1,200
1,000
800
600
400
200
0
Columbia
Dutchess
Greene
Orange
2nd Q
1st Q
Putnam
4th Q
Rockland
3rd Q
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
33
Sullivan
Ulster
Westchester
2nd Q
10/1/2009
Average Annual Selling Price
20008:02 -2009:02
2009
County
Columbia
% Change
2008
2nd Q
1st Q
4th Q
3rd Q
2nd Q
$ 256,885
$ 241,212
$ 313,154
$ 329,444
$ 370,490
2nd '09 to
1st '09
2nd '09 to
4th '08
2nd '09 to
3rd '08
2nd '09 to
2nd '08
6.50%
-17.97%
-22.02%
-30.66%
Dutchess
$305,166
$332,612
$312,337
$347,660
$354,852
-8.25%
-2.30%
-12.22%
-14.00%
Greene
$196,017
$195,661
$204,379
$228,988
$212,297
0.18%
-4.09%
-14.40%
-7.67%
Orange
$335,790
$323,581
$339,250
$352,948
$392,812
3.77%
-1.02%
-4.86%
-14.52%
Putnam
$346,454
$359,591
$400,731
$430,721
$449,829
-3.65%
-13.54%
-19.56%
-22.98%
Rockland
$543,747
$531,353
$578,850
$590,015
$609,100
2.33%
-6.06%
-7.84%
-10.73%
Sullivan
$155,932
$195,190
$163,420
$181,139
$178,083
-20.11%
-4.58%
-13.92%
-12.44%
Ulster
$240,440
$243,468
$278,201
$290,011
$315,345
-1.24%
-13.57%
-17.09%
-23.75%
Westchester
$757,892
$695,567
$796,265
$919,416
$896,121
8.96%
-4.82%
-17.57%
-15.43%
Hudson Valley
$452,353
$430,353
$481,963
$569,206
$561,873
5.11%
-6.14%
-20.53%
-19.49%
New York State
$274,898
$282,568
$299,168
$326,772
$319,896
-2.71%
-8.11%
-15.87%
-14.07%
U.S.
$174,433
$167,633
$180,800
$201,567
4.06%
-3.52%
-13.46%
NA
N/A
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
$Columbia
Dutchess
Greene
Orange
2nd Q
Putnam
1st Q
4th Q
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
34
Rockland
3rd Q
Sullivan
Ulster
Westchester
2nd Q
10/1/2009
Median Selling Price (in Dollars)
2000-2008
2009
% Change
2008
2nd '09 to
1st '09
2nd '09 to
4th '08
2nd '09 to
3rd '08
2nd '09 to
2nd '08
County
2nd Q
1st Q
4th Q
3rd Q
2nd Q
Columbia
$227,750
$190,000
$200,000
$225,000
$236,500
19.87%
13.88%
1.22%
-3.70%
Dutchess
$269,950
$280,000
$285,000
$309,900
$318,274
-3.59%
-5.28%
-12.89%
-15.18%
Greene
$165,000
$156,000
$179,000
$179,950
$179,050
5.77%
-7.82%
-8.31%
-7.85%
Orange
$270,000
$260,450
$270,000
$285,655
$300,000
3.67%
0.00%
-5.48%
-10.00%
Putnam
$324,450
$342,450
$350,000
$375,000
$400,000
-5.26%
-7.30%
-13.48%
-18.89%
Rockland
$420,000
$407,500
$432,500
$462,500
$455,000
3.07%
-2.89%
-9.19%
-7.69%
Sullivan
$138,000
$119,000
$146,500
$159,000
$139,000
15.97%
-5.80%
-13.21%
-0.72%
Ulster
$209,000
$190,560
$220,000
$250,000
$255,000
9.68%
-5.00%
-16.40%
-18.04%
Westchester
$565,000
$534,000
$569,000
$710,000
$674,950
5.81%
-0.70%
-20.42%
-16.29%
Hudson Valley*
$269,950
$260,450
$294,667
$328,556
$328,642
3.65%
-8.39%
-17.84%
-17.86%
New York State
$185,500
$199,000
$210,000
$219,000
$212,250
-6.78%
-11.67%
-15.30%
-12.60%
$169,900
$175,700
$191,400
U.S.**
$182,000
NA
* Estimate ** Medians of Last Month of Quarter
Median Selling Prices: Existing Single Family Homes
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
Dutchess
Greene
Orange
Putnam
2nd Q
1st Q
Rockland
4th Q
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
35
3rd Q
Sullivan
Ulster
Westchester
2nd Q
10/1/2009
Monthly Construction Permits
Single Family Homes
2009
Counties
July
June
May
April
March
February
Total
January
Columbia
1
0
1
0
0
0
19
21
Dutchess
7
10
8
10
5
6
6
52
Greene
0
0
0
0
0
0
0
0
Orange
28
28
21
23
21
11
11
143
Putnam
1
5
2
0
3
1
3
15
Rockland
5
8
9
4
5
10
9
50
Sullivan
6
3
13
14
10
2
11
59
Ulster
7
9
11
7
6
4
2
46
23
13
18
18
13
6
16
107
Westchester
Hudson Valley
78
76
83
76
63
40
77
493
Monthly Construction Permits
Non-single Family Construction (# of buildings)
2009
Counties
July
June
May
April
March
February
January
Total
Columbia
Dutchess
Greene
Orange
1
3
3
1
1
2
1
12
Rockland
1
0
0
0
1
1
0
3
Sullivan
0
0
0
1
1
1
2
5
Ulster
0
0
0
0
1
1
0
2
Westchester
0
1
0
3
0
0
0
4
Hudson Valley
2
4
3
5
4
5
3
26
Putnam
Hudson Valley (All)
80
80
86
81
36
67
45
80
260
Dollar Cost of Construction Single Family Homes
2009
Counties
Columbia
July
June
May
April
March
February
Total
January
$46,667
$0
$46,667
$0
$0
$0
$2,340,000
$2,433,334
$1,967,452
$2,469,525
$905,452
$1,709,903
$1,041,500
$1,351,235
$1,086,500
$10,531,567
Greene
$0
$0
$0
$0
$0
$0
$0
$0
Orange
$4,701,098
$4,151,352
$3,087,222
$3,697,169
$4,150,057
$1,999,914
$1,841,499
$23,628,311
Putnam
$191,400
$1,004,352
$547,012
$0
$967,980
$337,980
$1,237,980
$4,286,704
Rockland
$1,506,286
$2,717,000
$4,860,155
$1,054,000
$1,715,000
$2,003,388
$1,877,886
$15,733,715
Sullivan
$1,117,228
$743,000
$1,782,163
$1,713,518
$921,312
$195,828
$1,112,599
$7,585,648
Ulster
$1,160,925
$1,785,616
$958,000
$1,035,308
$1,155,184
$505,000
$169,000
$6,769,033
Westchester
$10,483,170
$7,297,686
$10,274,083
$8,948,891
$6,628,224
$2,684,714
$7,697,487
$54,014,255
Hudson Valley
$21,174,226
$20,168,531
$22,460,754
$18,158,789
$16,579,257
$9,078,059
$17,362,951
$124,982,567
Dutchess
Dollar Cost of Construction Non-single Family Construction (# of buildings)
2009
Counties
July
June
May
April
March
February
January
Total
Columbia
$0
Dutchess
$0
Greene
$0
Orange
$531,059
$1,178,441
$1,261,955
$955,906
$570,181
$979,838
$255,208
$5,732,588
$240,000
$0
$0
$0
$663,194
$535,200
$0
$1,438,394
Sullivan
$0
$0
$0
$86,110
$57,348
$57,348
$130,000
$330,806
Ulster
$0
$0
$0
$0
$0
$260,000
$0
$260,000
Westchester
$0
$200,000
$0
$23,378,550
$0
$0
$0
$23,578,550
$771,059
$1,378,441
$1,261,955
$24,420,566
$1,290,723
$1,832,386
$385,208
$31,340,338
Putnam
Rockland
Hudson Valley
Hudson Valley (All)
21,945,285
21,546,972
23,722,709
42,579,355
37
17,869,980
10,910,445
17,748,159
78,161,453
Monthly Average Cost of Construction per Permit Single Family Homes
2009
Counties
July
June
May
April
March
February
January
Monthly
Average
Columbia
$46,667
$0
$46,667
$0
$0
$0
$123,158
$115,873
Dutchess
$281,065
$246,953
$113,182
$170,990
$208,300
$225,206
$181,083
$202,530
Greene
$0
$0
$0
$0
$0
$0
$0
$0
Orange
$167,896
$148,263
$147,011
$160,746
$197,622
$181,810
$167,409
$165,233
Putnam
$191,400
$200,870
$273,506
$0
$322,660
$337,980
$412,660
$285,780
Rockland
$301,257
$339,625
$540,017
$263,500
$343,000
$200,339
$208,654
$314,674
Sullivan
$186,205
$247,667
$137,089
$122,394
$92,131
$97,914
$101,145
$128,570
Ulster
$165,846
$198,402
$87,091
$147,901
$192,531
$126,250
$84,500
$147,153
Westchester
$455,790
$561,360
$570,782
$497,161
$509,863
$447,452
$481,093
$504,806
Hudson Valley
$271,464
$265,375
$270,611
$238,931
$263,163
$226,951
$225,493
$251,713
Monthly Average Cost of Construction per Permit Non-single Family Construction (# of buildings)
2009
Counties
March
February
January
Monthly
Average
July
June
May
April
$531,059
$392,814
$420,652
$955,906
$570,181
$489,919
$255,208
$477,716
$240,000
$0
$0
$0
$663,194
$535,200
$0
$479,465
$86,110
$57,348
$57,348
$65,000
$66,161
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
$0
$0
$0
$0
$0
$260,000
$0
$130,000
Westchester
$0
$200,000
$0
$7,792,850
$0
$0
$0
$5,894,638
$771,059
$592,814
$420,652
$8,834,866
$1,290,723
$1,342,467
$320,208
$1,938,970
858,189
691,263
9,073,797
1,553,886
1,569,418
545,701
$1,095,341
Hudson Valley
Hudson Valley (All)
1,042,523
38
The Rate of Inflation
Year-to-Year Percent Change in CPI-U
2003 to July 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%
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%
0.67%
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%
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
-0.59%
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
40
9/29/2009
The Rate of Inflation Year-to-Year Change - 2001 to July 2009
(All Urban Consumers)
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
-1.00%
-2.00%
2001
2002
2003
2004
2005
U.S.
Source: U.S. Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
2006
2007
2008
2009
NY Area
9/29/2009
41
Total Sales Tax Collection
Quarters 2008:02-2009:02
County
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
2009:02
2009:01
2008:04
2008:03
2008:02
$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
$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
$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
$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
$7,989,382
$37,500,354
$6,758,862
$56,724,327
$13,156,844
$39,917,549
$17,813,671
$24,421,036
$116,957,617
$286,836,987
$286,386,974
$296,511,758
$333,484,530
$321,239,641
Quarterly Percentage Change
County
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
2009:02-2009:01
2009:01-2008:04
2008:04-2008:03
2008:03-2008:02
2008:02-2008:01
14.01%
-0.52%
-2.15%
2.12%
5.87%
0.74%
17.54%
-0.58%
-3.31%
1.86%
-8.04%
2.89%
-1.73%
-10.36%
0.97%
-7.77%
-5.46%
-3.46%
4.22%
-3.06%
4.87%
3.39%
13.12%
0.93%
3.13%
4.14%
2.79%
10.66%
10.89%
16.36%
5.38%
4.15%
11.41%
-36.84%
10.59%
1.73%
10.31%
7.88%
3.33%
6.17%
7.73%
-10.59%
125.57%
2.82%
-1.29%
0.16%
-3.41%
2.42%
3.81%
3.97%
Source: NYS Department of Taxation and Finance
Compiled by Bureau of Economic Research, School of Management, Marist College
9/29/2009
39