ECONOMIC REPORT
of the
HUDSON VALLEY
ANNUAL 2008
MARIST COLLEGE
Dr. Christy Huebner Caridi
Bureau of Economic Research
School of Management
Poughkeepsie, New York 12601
Edited by Dana Gavin, M.A.
June 2009
This report is available on the Bureau of Economic Research homepage at
http://www.marist.edu/management/bureau
The support of research assistant Amanda Pfister and Trey Savage and student intern
Daniel Greco is acknowledged and appreciated.
While every effort has been made to ensure that the information in this report is accurate, Marist College
cannot be held responsible for any remaining errors.
TEXT
DATA
Introduction
1-3
—
Employment by Place of Residence
4-6
48-51
Non-Farm Employment by Place of Work
6-7
52-53
Select Average Weekly Wages by Place of Work
—
54-55
Total U.S. Non-Farm Employment
—
56
U.S. Manufacturing: Hours, Hourly
and Weekly Wages
—
57-60
Employment and Wage Trends
7-27
61-115
Total Personal Income
28-32
61-115
Per-Capita Income
32-33
61-115
Household Income by Quintile 2005-2007
33-36
—
Monthly Income Maintenance Benefits
37-38
116-122
Migration
38-39
125-135
Home Sales, Prices, and Permits
40-42
136-147
Average Housing Values and Income
42-46
—
Components of Population Change
—
148
Sales Tax Collection
46
149
Regional Inflation
46-47
123-124
Bankruptcies
47
150-151
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Economic Report of the Hudson Valley
National Review
Half way through 2009 and 18 months into the recession, the economy remains
weak. Unemployment continues to rise and will remain high well into 2010; givebacks
and unpaid leave have become common place; manufacturing activity remains slack;
state budgets have been compromised by falling tax revenue and an increased demand for
unemployment insurance and income maintenance benefits; and home foreclosures are at
record levels: the bankruptcy courts are flooded with personal and business bankruptcy
petitions. Moreover, while TARP funds averted a collapse of the global financial system
in October of 2008, financial fragility is the current norm. Households have lost $11.20
trillion of financial and housing wealth, while their debts – not subject to market forces –
have remained fixed in dollar terms. Taken together, these factors have greatly impacted
the expectations and behavior of the household sector. Across the country, the repayment
of debt and saving – contractionary in nature – has supplanted consumption expenditures.
Further, reduced expectations have led households to question their ability to provide for
their children’s education and to fund their retirement.
Of particular concern is the linkage between the real economy – the production of
goods and services – and the availability of business and household credit. Businesses
both large and small had become highly dependent on outside credit to fund working
capital and to finance capital projects. As the financial system contracted, so did the
ability of non-bank corporations/firms to secure financing. This is particularly true for
“small firms” dependent on their relationship with national, regional and local banks to
secure funding. Similarly, households have experienced reductions in consumer lines of
credit, increased costs to use consumer credit and a severe contraction in the availability
of home mortgages. Collectively, the reduction in credit has served to weaken the firm
sector; weakness in the firm sector has fed into and further weakened the household
sector. This negative feedback loop is of primary concern and is the focal point of the
American Recovery and Reinvestment Act (ARRA) passed by the Senate on February
10, 2009, and signed into law by the President on February 11, 2009.
The economy cannot return to its “potential” without first countering the
downward tendencies. Current data suggests that the downturn in the labor market is
beginning to decelerate, financial firms are beginning to lend and retail sales – while
sluggish – are less negative when compared to the fourth quarter of 2008. That said,
while the worst may be over for the region and the nation, it will take years to fully
employ the labor force, absorb the excess supply of single family homes, rebuild the
financial sector and adjust to the substitution of debt-financed demand by saving and
living within ones means.
Regional Review
In 2008, the region’s labor force accounted for 12.60% of the total labor force in
New York state and 21.00% of the labor force outside of New York City. As in previous
years, gains in service sector employment compensated for the on-going contraction in
manufacturing employment. At year-end, 69.12% of all private sector jobs were in the
1
service sector; 6.21 % were in the manufacturing sector. During the five-year period
beginning in 2003 and ending in 2007, the private service-providing industries created
5.44 jobs – the total service-providing sector created 6.00 jobs – for each manufacturing
job that left the region. Consistent with previous years, average wages in the service
sector in 2007 were 63% of the average wages in the manufacturing sector. Initial wage
and employment data for 2008 suggests that the private service-providing sector created
.96 jobs for each manufacturing job that left the region; the total service-providing sector
generated 1.73 jobs. If this trend held, the data will show a significant year-over-year
contraction in total compensation.
Westchester County continues to be the regional epicenter for employment in the
management of companies and enterprises and finance and insurance industry sectors.
Employment in professional and technical services, manufacturing and the wholesale
trade is somewhat more diversified. Westchester County is the largest employer in the
manufacturing sector: Dutchess County is the close second. Rockland and Orange
counties are significant regional employers in the professional and technical services
sector and the wholesale trade sector. As in previous years, employment opportunities in
Greene, Ulster and Sullivan were heavily weighted toward accommodation and food
services, arts and entertainment and the retail trade sector. Further, Orange, Greene and
Sullivan are particularly dependent on government employment.
The regional labor force continues to grow faster than the number of employment
opportunities within the region. This contributed to both an increase in the unemployment
rate and a rise in the number of persons seeking employment outside their home county.
In the year 2007, the net inflow of wages, salaries and benefits into the region, at $23.31
billion, was 28.66% of total earned income. Moreover, this inflow accounted for 38.14%
of the year-over-year increases in the region’s income by residence. Overall, 2007 total
personal income (TPI) advanced 6.19% relative to 2006. Over the same time period, TPI
advanced 5.98% nationwide and 6.11% in New York state.
In the Hudson Valley, during the 2005-2007 period, the distribution of TPI across
households was “more equal” than the distribution of TPI in the U.S. and in New York
state. Nationwide, for every one dollar ($1.00) earned by the average household in the
lowest 20% of all households, the average household in the top 20% of all households
earned $14.75. In New York state, the ratio was $18.55 to $1.00. Across the Hudson
Valley, the relationship ranged from a high of $20.90 to $1.00 in Westchester County to a
low of $9.15 to $1.00 in Putnam County. On average, the ratio of the top 20% of all
households to the bottom 20% of all households was (approximately) $12.75 to $1.00.
The relationship would be $13.42 to $1.00 if the outliers – Westchester and Putnam –
were removed from the equation. An inspection of the average income of the top 20% of
all households relative to the average income of the second, third and fourth quintile
(20%) of all households reveals a similar pattern. On the whole, Westchester County is
the “least equal” county in the Hudson Valley; Putnam County is the “most equal”.
By year-end 2008, the average selling price of an existing home in the Hudson
Valley, at $550,200, was 126.70% above the national average and 71.92% above of the
state average. During the five-year period beginning in 2003 and ending in 2007, the ratio
of average housing values to per capita income increased 4.65% from 10.53 to 1 in 2003
to 11.02 to 1 in 2007. Over the same time frame, the ratio of housing values to per capita
income advanced .31% nationwide and fell .16% in New York state. A similar pattern
2
exists with the 10-year – 1998-2007 – growth in average housing values relative to the
10-year growth in total personal income. On average, both across the nation and within
the region, the 10-year growth in total personal income has lagged behind the 10-year
growth in housing values. An examination of the five-year trend – 2003-2007 – exposes
an inflection point – near term peak – and the beginnings of a downward trend. In 2007,
the growth in housing values began to slow and in some (limited) cases, fall, while
income continued to rise. As a result, the gap between income and housing values has
begun to contract. The short term result is an increase in the affordability of homes in the
Hudson Valley by residents of the Hudson Valley. However, careful attention must be
paid to current economic conditions. As mentioned above, initial employment data for
2008-2009 suggests a reduction in the earned income component of TPI – unemployment
is rising and the average wage per job is trending downward. Other factors that should be
considered are the number of households moving into the Hudson Valley from New York
City – in the 2006-2007 period net migration from NYC into the Hudson Valley region
was a positive 4,411 households – and the number of persons living in the Hudson Valley
who work in the financial services sector. On average, households that migrate from
NYC to the Hudson Valley have adjusted gross income in the year of the move that is
above the average adjusted gross income of non-migrants. As a direct result, income by
residence – within the region – rises. A potential negative factor is the number of Hudson
Valley residents directly and indirectly employed in the financial services sector in New
York City.
Coincident with the disjoint between the growth in housing values and income
was an increase in the percentage of households in financial distress. The U.S. Census
Bureau estimates that between the years 2005 and 2007, the number of households
nationwide in financial distress advanced 8.75%, from 34.51% in 2005 to 37.53% in
2007. Over the same time frame, New York state experienced a 6.70% increase, from
39.70% in 2005 to 41.52% in 2007. As might be expected, the lower the household’s 12month income, the greater the probability that the household was in financial distress.
Across the region, there are two key income levels: $50,000-$74,000 and $75,000 or
more. On average, with the exception of the northern counties of Columbia and Greene
and Sullivan County in the west, households with annual income less than $75,000
experienced more distress than their counterparts with annual income of $75,000 and
above. In Columbia, Greene and Sullivan, the key income range was $50,000-$74,000.
Finally, the primary goal of this report is to examine and codify existing and
emerging trends across the region. As a general rule, trends are valuable indicators of
future economic activity. However, the duration and scope of the current recession
presents new challenges. It cannot be stated with certainty when or even if the region will
return to trend. The primary problem is noisy income and employment data and volatile
business and consumer confidence. That said, while the Hudson Valley region has
escaped the worst of the housing crisis, the unprecedented loss of financial and housing
wealth coupled with rising unemployment and increased uncertainty will have a lasting
impact on the nation and the region: Households will replace debt-financed demand by
saving, corporations will de-leverage and the housing markets will once again be driven
by “local” fundamentals rather than by global financial markets.
3
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4
Hudson Valley Labor Force 20081
► Labor force expanded 1.3%, reversing 2007 contraction
►The number of available jobs declined by 13,483 since 2006
► The regional unemployment rate in 2008 increased 33% (relative to 2007)
In 2008, the region’s labor force accounted for 12.6% of the total labor force in
New York State and 21% of the labor force outside of New York City. Year- over- year
labor force participation by Hudson Valley 2 residents resulted in an expansion of the
labor force from 1,203,650 persons in 2007 to 1,218,699 in 2008. This 15,049 (1.3%
increase) in labor force participation effectively reserved the (1.1% decline) observed in
2007. In contrast, the region experienced an 896 (.1% reduction) in the number of
available jobs.
Chart One
Percentage Change in Labor Force and Employment Between
2007 and 2008
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
New York State
U.S.
-7.00% -6.00% -5.00% -4.00% -3.00% -2.00% -1.00% 0.00% 1.00% 2.00% 3.00% 4.00%
Percentage Change in Labor Force
Percentage Change in Employment
Because labor force participation grew by more than the cutback in available jobs
(Chart One), the average annual unemployment rate for the Hudson Valley region
increased 33% year- over- year from 3.82% in 2007 to 5.08% in 2008.
1
Employment by Place of Residence
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.
2
5
For the third year in a row, the lowest unemployment rates in the region were
recorded by Putnam and Rockland counties at 4.45% and 4.82%, respectively. Over the
same three year period, the highest unemployment rates occurred in Greene and Sullivan
counties. In 2008, the unemployment rates in Greene and Sullivan were 6.00% and
6.63% respectively.
Statewide, the increase in available jobs lagged behind the change in the labor
force, resulting in a year- over- year increase in the unemployment rate of 19.9%. The
unemployment rate in the U.S. expanded 24.2% from 4.63% in 2007 to 5.75% in 2008.
Non-Farm Employment by Place of Work3
►Goods producing industries reduced employment by 2,500 jobs
►Service providing industries added 4,500 new jobs
►Employment in the government sector expanded by 1,900
For the year 2008, total non-farm employment in the Hudson Valley rose .19% (from
962,000 in 2007 to 963,800 in 2008). Private employment declined .04%. Employment in
the government sector rose 1.06% and accounted for all of the increase in non-farm
employment for the year.
Table One
Employment as a Percentage of Total Non-Farm
1999
Hudson Valley
NYS
U.S,
2004
Hudson Valley
NYS
U.S,
2008
Hudson Valley
NYS
U.S.
Govern.
18.34%
17.08%
15.74%
Private Service
67.94%
70.04%
65.29%
Goods Producing
13.74%
12.88%
19.11%
Manu.
8.90%
9.14%
13.43%
18.84%
17.53%
16.45%
68.89%
71.55%
66.90%
12.28%
10.93%
16.88%
6.96%
7.05%
10.89%
18.87%
69.12%
72.57%
67.96%
12.00%
10.25%
15.63%
6.21%
6.07%
9.80%
17.19%
16.42%
The structural change away from employment in the manufacturing sector toward
the service sector continued throughout 2008. Across the region, employment in the
private service-providing industries advanced .39% (2,500 jobs), while employment in
the manufacturing sector fell 3.23% (2,000 jobs). Over the same time period,
manufacturing employment in New York state declined 3.5% (19,400 jobs).
During the five-year period ending in 2008, employment in the private serviceproviding industries advanced 2.69% (22,200 jobs). Employment in the manufacturing
sector declined 8.69% (5,700 jobs). Currently, manufacturing employment accounts for
3
Current Employment Statistics (CES): survey of sample employers excludes self-employed, agricultural, domestic
workers and the military
6
6.21% of all employment by place of work, compared to 6.96% in 2004 and 8.90% in
1999 (see Table One). Statewide, employment in the manufacturing sector has declined
10.54% (62,900 jobs) since 2004.
On a job replacement basis over the five-year period ending in 2007, the private
service-providing industries created 5.44 jobs – the total service-providing sector created
6.00 jobs – for each manufacturing job that left the region. In the year 2007, the private
job replacement ratio was 1.31 to 1; the total replacement ratio was 2.25 to 1. However,
while the increase in employment in the service industries more than compensated for the
reduction of employment in manufacturing, the jobs are not equivalent. Average wages in
the service sector in the year 2007 were 63% of the average wages in the manufacturing
sector. Accordingly, on an average wage basis, one manufacturing job is equivalent to
1.60 jobs in the service-providing industries. For the region in the year 2007, the increase
in average annual wages paid by the service-providing industries (at $261.5 million)
more than compensated for the $91.6 million reduction in the wage bill in the
manufacturing sector. Preliminary wage and employment data for 2008 suggest that the
private service-providing sector created .96 jobs for each manufacturing job that left the
region; the total service-providing sector generated 1.73 jobs.
County Employment and Wage Trends by Industry:
Years 2003-2007 4
In the year 2007, employment in the management of companies and enterprises
sector, the finance and insurance sector and the professional and technical services sector
were concentrated in the southern counties of Westchester, Rockland and Orange and in
Dutchess County. Of the 92,255 jobs within these three sectors, the vast majority
(60.09%) were located in Westchester, followed by Rockland, Orange and Dutchess at
10.80%, 10.18%, and 8.35%, respectively. The average wages in these industries were
the highest in Westchester, Rockland and Putnam counties; the lowest wages were in the
northern counties of Columbia and Greene and the western county of Sullivan. Over the
five-year period ending in 2007, employment in management of companies and
enterprises grew the fastest in Ulster at 29.09%; followed by Dutchess at 19.98% and
Sullivan at 5.71% 5 . The county that recorded the greatest level change- number of jobswas Westchester at 2,177. Employment in the management, finance, and professional
sectors accounted for 9.89% of “all industries” employment and 12.08% of total private
sector employment.
4
Final covered employment and wages (CEW) statistics. The data set excludes the self-employed, railroad workers,
student workers and some agricultural workers.
5
The CES data for the management of companies and enterprises sector in Putnam and Columbia counties is
incomplete.
7
Table Two
Wage Trends 2007: Highest Paying Jobs by Sector
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
% of total sector employment
1.86%
5.39%
0.44%
6.42%
0.09%
8.05%
1.95%
3.06%
72.74%
% of total county employment
1.21%
0.63%
0.41%
0.68%
0.05%
0.96%
1.03%
0.67%
2.37%
NA
19.98%
NA
-4.87%
NA
4.61%
5.71%
29.09%
5.39%
Management of Companies
5-year growth rate
NA
335
NA
-230
NA
194
49
268
2,177
$55,551
$91,041
$53,960
$89,637
$110,978
$102,730
$41,083
$55,523
$253,606
% of total sector employment
1.08%
8.66%
0.87%
10.25%
2.02%
9.01%
2.60%
5.84%
59.67%
% of total county employment
1.79%
2.59%
2.08%
2.75%
2.73%
2.72%
3.49%
3.28%
4.95%
-4.79%
0.75%
3.86%
-2.02%
-5.65%
2.70%
-1.86%
2.23%
4.19%
5-year level change
Average wages 2007
Finance and Insurance
5-year growth rate
5-year level change
Average wages 2007
-74
31
53
-235
-152
385
-70
166
2,764
$39,789
$53,870
$37,239
$47,818
$60,074
$63,950
$55,658
$49,402
$129,035
Professional and Technical
% of total sector employment
1.80%
9.03%
0.66%
11.31%
2.77%
13.10%
1.28%
3.61%
56.45%
% of total county employment
3.71%
3.38%
1.95%
3.79%
4.66%
4.94%
2.16%
2.53%
5.85%
5-year growth rate
5.75%
2.78%
-18.29%
2.69%
1.52%
2.23%
2.03%
-1.75%
-0.01%
5-year level change
Average wages 2007
152
352
-483
500
74
474
30
-84
63
$43,285
$51,851
$34,620
$47,100
$54,357
$64,833
$28,590
$36,467
$89,276
2.90%
22.73%
1.61%
12.59%
2.72%
18.52%
2.20%
6.92%
29.82%
Manufacturing
% of total sector employment
% of total county employment
5-year growth rate
5-year level change
Average wages 2007
8.43%
11.98%
6.75%
5.95%
6.44%
9.84%
5.20%
6.82%
4.35%
-3.82%
-3.55%
4.52%
-2.41%
5.42%
0.24%
8.45%
-4.62%
-2.27%
-277
-2,266
152
-851
306
167
378
-942
-1,707
$41,140
$91,041
$50,546
$42,673
$53,451
$70,758
$28,485
$44,046
$93,030
1.47%
6.10%
1.43%
20.78%
2.50%
13.86%
1.88%
3.79%
48.19%
Wholesale Trade
% of total sector employment
% of total county employment
5-year growth rate
5-year level change
Average wages 2007
2.43%
1.83%
3.42%
5.60%
3.38%
4.19%
2.53%
2.13%
4.01%
-3.56%
1.22%
1.85%
0.27%
9.51%
0.62%
-0.35%
-1.35%
-0.32%
-61
104
12
180
246
-8
-3
-47
-78
$36,473
$61,161
$40,879
$48,712
$50,062
$66,119
$36,905
$44,350
$84,408
The five-year employment growth in finance and insurance ranged from a
positive 4.19% in Westchester to a negative 5.65% in Putnam. The largest level change in
the number of jobs occurred in Westchester County at 2,764, followed by Rockland at
385. Employment growth in professional and technical services ranged from a positive
5.75% in Columbia to a negative 18.29% in Greene. The largest level increase in the
professional sector occurred in Orange County at 500.
In the year 2007, there were 61,430 jobs in the manufacturing sector and 35,015
jobs in the wholesale trade sector. These two industry groups accounted for 10.34% of
“all industries” employment and 12.64% of total private employment. The largest
8
concentrations of manufacturing jobs were in Westchester, Dutchess and Rockland at
29.82%, 22.73% and 18.52% of total manufacturing employment, respectively.
Table Three
Wage Trends 2007: Lowest Paying Jobs by Industry
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
% of total sector employment
2.49%
13.32%
2.79%
14.57%
2.54%
11.51%
4.05%
10.55%
38.17%
% of total county employment
6.92%
6.71%
11.22%
6.58%
5.75%
5.84%
9.16%
9.95%
5.33%
5-year growth rate
5.06%
1.83%
1.24%
-0.21%
5.03%
1.27%
-5.56%
-0.37%
1.16%
222
647
48
-33
290
350
-548
-81
1,297
$13,349
$15,611
$12,663
$15,281
$14,805
$19,178
$16,740
$16,081
$22,297
Accommodation and Food
5-year level change
Average wages 2007
Arts and Entertainment
% of total sector employment
1.66%
12.18%
3.96%
9.17%
4.39%
7.71%
3.58%
4.47%
52.89%
% of total county employment
1.34%
1.78%
4.61%
1.20%
2.89%
1.14%
2.35%
1.22%
2.35%
5-year growth rate
1.77%
5.23%
-2.02%
0.34%
-0.42%
0.33%
13.84%
6.89%
-2.26%
5-year level change
Average wages 2007
18
356
-80
34
11
49
278
179
-261
$27,623
$19,782
$18,073
$17,283
$20,619
$26,285
$23,089
$21,183
$33,427
Retail Trade
% of total sector employment
2.25%
11.70%
1.84%
18.22%
2.28%
11.84%
2.69%
7.76%
41.43%
% of total county employment
12.80%
12.09%
15.16%
16.88%
10.59%
12.33%
12.47%
15.02%
12.47%
5-year growth rate
-0.04%
-0.08%
3.95%
2.09%
1.93%
-0.40%
-1.25%
1.28%
1.40%
5-year level change
Average wages 2007
-5
121
382
1,811
236
-186
-140
512
3,007
$27,306
$26,089
$24,229
$25,252
$28,645
$27,100
$24,202
$25,074
$31,553
These three counties also recorded the highest average manufacturing wages.
While manufacturing continues to be an important employer in Dutchess and Rockland
counties, at 11.31% and 9.84% of total county employment (the national average is
9.80% of total employment), the manufacturing sector in Westchester is only 4.35% of
total county employment. Like the manufacturing sector, employment in the wholesale
trade sector is highly concentrated, with 82.83% of total employment located in
Westchester, Orange and Rockland. The county that experienced the greatest five-year
growth and level change was Putnam County at 9.51% and 246, respectively.
At the other end of the spectrum are the lowest paying jobs. These include
accommodation and food services, arts and entertainment and the retail trade sector. In
the year 2007, these three industry groups employed one out of every four workers in the
private sector (25.70%). The counties with the highest concentrations were Greene,
Ulster and Sullivan at 44.00%, 33.95% and 31.61% of total private sector employment,
respectively.
9
Columbia County
► Average wages were 65.66% of the Hudson Valley average and
56.30% of the New York state average
► Average private sector wages were 86.55%
of average government wages
► 2003-2007: All industries employment
grew at an annual rate of .14%
In the year 2007, employment in Columbia County represented 2.27 % of total
employment 6 in the Hudson Valley and .25% of all industries employment in New York
state. Average wages at $33,486 were 65.66% of the average wages in the Hudson Valley
($51,000) and 56.30% of average wages in New York State ($59,474). Average private
sector wages at $32,351 were 86.55% of average government wages ($37,380).
In the year 2007, 993 persons – 4.69% of all industries employment – earned
average wages greater than $50,000 per year. The highest average wage sectors were the
state government ($57,817), management of companies and enterprises ($56,551) and
mining ($52,710). The lowest paying jobs were in the accommodation and food service
sector ($13,349), other services sector ($24,229) and the real estate and rental leasing
sector ($25,207). During the year 2007, 10.78% of the total labor force earned average
wages of $25,207 or less. The three largest employers were local government (18.37%),
the health care and social assistance sector (17.71%) and the retail sector (12.80%).
Over the five-year period ending in 2007, all industries employment grew at an
annual rate of .14%; all private employment grew .25% and employment in the
government sector declined .23%. The fastest growing industries were professional and
technical services, accommodation and food services and construction (Chart Two).
These three industry groups accounted for 15.38% of average employment in 2007,
compared to 12.97% in 2003.
Over the same time period, there was a significant contraction in the following
five sectors: information (-5.32%), finance and insurance (-4.79%), the state government
(-3.65%), manufacturing (-3.82%) and the wholesale trade (-3.56%) (Chart Three) 7 . In
2007, these five industry sectors accounted for 17.45% of average employment,
compared to 20.31% in 2003. The largest contraction in the number of jobs occurred in
the manufacturing sector, from 2,060 in 2003 to 1,783 in 2007. The number of firms
declined in the manufacturing and finance and insurance sectors; increased in the
information and wholesale trade sector; the number of state government
agencies/departments.
6
Total employment (all industries employment) includes private employment and employment in the
government sector.
7
Between 2004 and 2007, employment in the management of companies and enterprises sector declined by 50 jobs
from 305 in 2004 to 255 in 2007. Average wages in 2007 were $56,551. Growth can not be calculated because of an
incomplete data set.
.
10
The size of the bubble represents the five-year annual growth rate.
Chart Two
Columbia County: Indus try s e ctors with growth
rate s of 2.5% or more be twe e n 2003-2007
9.00%
P erc en t o f T o tal E m p lo ym en t 2007
8.00%
Construction,
4.00%
7.00%
6.00%
Professional and
Technical Services,
5.75%
Accommodation
and Food Services,
5.06%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
Ave rage Wage s 2007
Chart Three
Columbia County: Indus try s e ctors with growth
rate s of - 2.5% or more be twe e n 2003-2007
Percent of Total Employment 2007
10.00%
M anufacturing,
-3.82%
8.00%
6.00%
State Government,
-3.65%
Wholesale Trade,
-3.56%
4.00%
Finance and
Insurance,
-4.79%
2.00%
Information,
-5.32%
0.00%
$0
$10,000
$20,000
$30,000
$40,000
Ave rage Wage s 2007
11
$50,000
$60,000
$70,000
.
Dutchess County
► Average wages were 87.59% of the Hudson Valley average and
75.10% of the New York state average
► All industries employment grew at an annual rate
of .49% between 2003-2007
►Dutchess is the second largest regional employer in
the manufacturing sector
In the year 2007, employment in Dutchess County represented 12.50 % of total
employment 8 in the Hudson Valley and 1.36% of all industries employment in New York
state. Average wages at $44,667 were 87.59% of the average wages in the Hudson Valley
($51,000) and 75.10% of average wages in New York state ($59,474). Average private
sector wages at $43,846 were 90.94% of average government wages ($48,216).
The highest average wages in the region were paid in the manufacturing sector
($91,041), the wholesale sector ($61,161) and the management of companies and
enterprises sector ($58,678) 9 . These three industry groups accounted for 14.44% of the
total number of jobs in the county in 2007, compared to 16.32% in 2003. The entire
contraction between 2003 and 2007 was caused by a 2,266 job (13.96%) reduction in the
manufacturing sector. Currently, 22.73% of all manufacturing jobs in the Hudson Valley
are located in Dutchess County.
The lowest paying jobs were in the accommodation and food service sector
($15,611), the arts and entertainment sector ($19,782), other services sector ($25,747)
and retail ($26,089). Average employment in these four sectors represented 23.60% of
average employment in 2007 compared to 22.74% in 2003. The three largest employers
in 2007 were the health care and social assistance sector (14.58%), the retail sector
(12.09%) and the manufacturing sector (11.98%).
Over the five-year period ending in 2007, all industries employment grew at an
annual rate of .49%; all private employment grew .65% and employment in the
government sector declined .18%. The fastest growing industries were management of
companies and enterprises, educational services, arts and entertainment, transportation
and warehousing, construction and professional and technical services (Chart Four).
These six industry groups accounted for 19.78% of average employment in 2007,
compared to 17.63% in 2003.
During the same time period, there was a significant contraction in the following
three sectors: the federal government (-5.64%); manufacturing (-3.55%); and real estate,
rental and leasing (-3.25%) (Chart Five).
8
Total employment (all industries employment) includes private employment and employment in the government
sector.
9
Analysis does not consider the mining sector. In the year 2007, average wages were $72,579; the number of
employees was 146.
12
The size of the bubble represents the five-year annual growth rate.
Note: Charts for Dutchess County are not vertically comparable
Chart Four
Dutche ss County: Industry s e ctors that gre w
2.5% or gre ate r be twe e n 2003 and 2007
Percent of total Employment 2007
7.00%
Educational
Services, 5.91%
6.00%
5.00%
Arts and
Entertainment,
5.23%
4.00%
3.00%
2.00%
Construction, 2.84%
Professional and
Technical, 2.78%
Transportation and
W arehousing,
4.65%
Management of
Companies,
19.98%
1.00%
0.00%
$10,000
-1.00%
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
Ave rage Wage s 2007
Chart Five
Dutche s s County: Indus try s e ctors with growth
rate s of - 2.5% or gre ate r be twe e n 2003 and 2007
Percent of Total Employment
2007
4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
Manufacturing,
-3.55%
Real Estate,
Rental, and
Leasing,
- 3.25%
Federal
Government,
-5.64%
1.50%
1.00%
0.50%
0.00%
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
Ave rage Wage s 2007
13
$80,000
$90,000
$100,000
Greene County
► Average wages were 65.04% of the Hudson Valley average and
66.77% of the New York state average
►Average private sector wages were 65.88% of average government wages
► All industries employment grew at an annual rate
of 1.55% between 2003-2007
In the year 2007, employment in Greene County represented 1.57 % of total
employment 10 in the Hudson Valley and .17% of all industries employment in New York
State. Average wages at $33,169 were 65.04% of the average wages in the Hudson
Valley ($51,000) and 55.77% of average wages in New York state ($59,474). Average
private sector wages at $28,762 were 65.88% of average government wages ($43,661).
The highest average wages in the region were paid in the state government sector
($60,135), the management of companies and enterprises sector ($53,960) and the
manufacturing sector ($50,546).
The lowest paying jobs were in the accommodation and food service sector
($12,663), arts and entertainment ($18,073), educational services ($23,007) and
administrative and waste services ($23,020). ). During the year 2007, 17.04% of the total
labor force earned average wages of $24,020 or less .The four largest employers were the
local government (18.77%), the retail sector (15.16%), accommodation and food services
(11.22%) and the state government (10.06%).
Over the five-year period ending in 2007, all industries employment grew at an
annual rate of 1.55%; all private employment grew 1.71% and employment in the
government sector grew 1.16%. The fastest growing industries were construction,
manufacturing, health care and social assistance, retail trade, real estate and finance and
insurance (Chart Six). These six industry groups have increased from 33.91% of average
employment in 2003 to 39.24% in 2007. The largest level change occurred in the retail
sector from 1,836 jobs in 2003 to 2,218 jobs in 2007.
During the same time period, employment declined in professional and technical
services from 769 jobs in 2003 to 286 jobs in 2007; average wages fell 8.37%. The
educational services sector shed 19 jobs, from 51 in 2003 to 32 to 2007. Over the same
time period, the number of firms in the professional and technical services sector
increased from 83 to 85; the number of firms in the educational services sector increased
by 3, from 9 in 2003 to 12 in 2007.
10
Total employment (all industries employment) includes private employment and employment in the
government sector.
14
The size of the bubble represents the five-year annual growth rate.
Chart Six
Gre e ne County: Indus try s e ctors that gre w by 2.5%
or more be twe e n 2003 and 2007
Percent of Total Employment 2007
19.00%
17.00%
15.00%
Re tail Trade , 3.95%
He alth Care and
Social As s is tance ,
4.29%
13.00%
11.00%
M anufacturing,
4.52%
9.00%
7.00%
5.00%
3.00%
1.00%
Re al Es tate and
Re ntal and Le as ing,
3.94%
Finance and
Ins urance ,
3.86%
Construction,
8.81%
-1.00%
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
Ave rage wage s 2007
Chart Seven
Percent of Total Employment 2007
Gre e ne County: Indus try s e ctors that gre w -2.5%
or le s s be twe e n 2003 and 2007
2.50%
Professional and
Technical Services, -18.29%
2.00%
1.50%
1.00%
0.50%
Educational
Services , -9.06%
0.00%
-0.50%
-1.00%
$10,000
$20,000
$30,000
$40,000
Ave rage Wage s 2007
15
$50,000
$60,000
Orange County
► Average wages were 73.43% of the Hudson Valley average and
77.67% of the New York state average
► All industries employment grew at an annual rate
of 1.14% between 2003-2007
In the year 2007, employment in Dutchess County represented 13.94 % of total
employment 11 in the Hudson Valley and 1.52% of all industries employment in New
York State. Average wages at $37,448 were 73.43% of the average wages in the Hudson
Valley ($51,000) and 62.96% of average wages in New York state ($59,474). Average
private sector wages at $34,262 were 69.35% of average government wages ($49,401).
The highest average wages in the region were paid in the management of
companies and enterprises sector ($89,637), the mining sector ($70,805) and state and
federal government sectors at ($60,341) and ($54,237), respectively. These four industry
groups accounted for 6.64% of the total number of jobs in the county in 2007, compared
to 7.53% in 2003. The contraction between 2003 and 2007 was caused by a 444 job
(15.22%) reduction in the state government sector and a 230 job (20.68%) reduction in
the management of companies and enterprises sector.
The lowest paying jobs in the county were in the accommodation and food service
sector ($15,281), the arts and entertainment sector ($17,283), other services sector
($23,777) and retail ($25,252). Total employments in these four sectors represented
28.63% of total employment in 2007 – virtually unchanged from 28.17% in 2003. The
three largest employers in 2007 were the retail sector (16.88%), the local government
sector (15.13%) and the health care and social assistance sector (13.56%). Over the fiveyear period ending in 2007, all industries employment grew at an annual rate of 1.14%;
all private employment grew 1.34% and employment in the government sector
grew.41%.
The fastest growing industries were real estate, construction, transportation and
warehousing, health care and social assistance, administration and waste services,
professional and technical services (Chart Eight). These six industry groups increased
from 28.50% of total employment in 2003 to 30.46% in 2007. The largest level change
occurred in the heath care sector from 15,903 jobs in 2003 to 17,639 jobs in 2007.
Average wages in the sectors of transportation and warehousing, construction and
professional and technical services were above the 2007 all industry average wage.
Over the same five-year period, employment in the management of companies
and enterprises sector, the state government sector and the manufacturing sector
experienced negative growth of 4.87%, 4.70% and 2.41%, respectively (Chart Nine).
Employment in the management of companies and enterprises sector declined from 1,112
jobs in 2003 to 882 in 2007. Over the same time frame, the number of firms increased
from 22 in 2003 to 37 in 2007. Average wages increased by 4.02%. Job loss in the state
government sector numbered 444 while the manufacturing sector reduced employment by
851 jobs.
11
Total employment (all industries employment) includes private employment and employment in the
government sector.
16
The size of the bubble represents the five-year annual growth rate.
Chart Eight
Orange County: Industry s e ctors that gre w 2.5%
or gre ate r be twe e n 2003 and 2007
17.50%
He alth Care and
Social Se rvice ,
2.59%
Percent of Total Employment 2007
15.50%
13.50%
11.50%
9.50%
Adminis tration and
Was te Se rvice s ,
2.81%
7.50%
5.50%
Construction,
3.09%
Trans portation and
Ware hous ing,
3.00%
Profe s s ional and
Te chnical Se rvice s,
2.69%
3.50%
1.50%
Real estate, 3.59%
-0.50%
-2.50%
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
Ave rage Wage s 2007
Chart Nine
Percent of Total Employment
2007
7.50%
Orange County: Industry sectors that grew
-2.5% or less between 2003-2007
6.50%
M anufacturing,
-2.41%
5.50%
4.50%
State Gove rnme nt,
-4.70%
3.50%
2.50%
M anage me nt of
Companie s and
Ente rpris e s ,
- 4.87%
1.50%
0.50%
-0.50%
$20,000
$40,000
$60,000
$80,000
Average W ages 2007
17
$100,000
$120,000
Putnam County
► Average wages were 85.36% of the Hudson Valley average and
73.20% of the New York state average
► All industries employment grew at an annual rate
of 2.16% between 2003-2007
In the year 2007, employment in Putnam County represented 2.78% of total
employment 12 in the Hudson Valley and .30% of all industries employment in New York
State. Average wages at $43,533 were 85.36% of the average wages in the Hudson
Valley ($51,000) and 73.20% of average wages in New York state ($59,474). Average
private sector wages at $40,619 were 71.42% of average government wages ($56,875).
The highest average wages in the region were paid in the management of
companies and enterprises sector ($110,978), the state government sector ($62,067), the
finance and insurance sector ($60,074) and the information sector ($58,423).
Employment in these four industry groups declined from 7.35% of total employment in
2003 to 5.30% in 2007. The contraction between 2003 and 2007 can be traced to a 305
job loss in the two highest paid industries (management of companies and enterprises and
finance and insurance).
The lowest paying jobs were in the accommodation and food service sector
($14,805), the arts and entertainment sector ($20,619), retail ($28,645) and other services
sector ($29,199).Total employments in these four sectors represented 24.66% of total
employment in 2007 compared to 24.81% in 2003. The three largest employers in 2007
were the local government (16.83%), the health care and social assistance sector
(16.66%) and the retail sector (10.59%).
Over the five-year period ending in 2007, all industries employment grew at an
annual rate of 2.73%; all private employment grew 3.21% and employment in the
government sector grew at .68%. Of the twenty major sectors located in Putnam County,
eight sectors grew in excess of 2.50% between 2003 and 2007. Of that group, the fastest
growing industries were wholesale trade, administration and waste management, and
construction followed by manufacturing and accommodation and food services. It should
be further noted that four of the eight sectors reported average wages above the county all
industry average.
Over the same time period, employment declined in finance and insurance, real
estate and the federal government sectors (Chart Eleven). 13
12
Total employment (all industries employment) includes private employment and employment in the government
sector.
13
Between 2003 and 2007, employment in the management of companies and enterprises sector declined by 153 jobs,
from 165 in 2003 to 12 in 2007. Growth can not be calculated because of an incomplete data set.
18
The size of the bubble represents the five-year annual growth rate.
Chart Ten
Orange County: Industry s e ctors that gre w 2.5%
or gre ate r be twe e n 2003 and 2007
17.50%
He alth Care and
Social Se rvice ,
2.59%
Percent of Total Employment 2007
15.50%
13.50%
11.50%
9.50%
Adminis tration and
Was te Se rvice s ,
2.81%
7.50%
5.50%
Construction,
3.09%
Trans portation and
Ware hous ing,
3.00%
Profe s s ional and
Te chnical Se rvice s,
2.69%
3.50%
1.50%
Real estate, 3.59%
-0.50%
-2.50%
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
Ave rage Wage s 2007
Chart Eleven
Percent of Total Employment
2007
7.50%
Orange County: Industry sectors that grew
-2.5% or less between 2003-2007
6.50%
M anufacturing,
-2.41%
5.50%
4.50%
State Gove rnme nt,
-4.70%
3.50%
2.50%
M anage me nt of
Companie s and
Ente rpris e s ,
- 4.87%
1.50%
0.50%
-0.50%
$20,000
$40,000
$60,000
$80,000
Average W ages 2007
19
$100,000
$120,000
Rockland County
► Average wages were 92.54% of the Hudson Valley average and
79.35% of the New York state average
► All industries employment grew at an annual rate
of 1.14% between 2003-2007
In the year 2007, employment in Rockland County represented 12.40 % of total
employment 14 in the Hudson Valley and 1.35% of all industries employment in New
York state. Average wages at $47,197 were 92.54% of the average wages in the Hudson
Valley ($51,000) and 79.35% of average wages in New York state ($59,474). Average
private sector wages at $46,057 were 88.23% of average government wages ($52,199).
The highest average wages in the region were paid in the management of companies and
enterprises sector ($102,730), the manufacturing sector ($70,758), the information sector
($70,662) and the wholesale trade ($66,119). These four industry groups accounted for
17.45% of the total number of jobs in the county in 2007, compared to 18.25% in 2003.
Over the five-year period ending in 2007, employment expanded in management of
companies and enterprises, information and wholesale trade. Employment contracted in
the information sector from 3,142 jobs in 2003 to 2,856 jobs in 2007.
The lowest paying jobs in the county were in the accommodation and food service
sector ($19,178), other services sector ($22,979), the arts and entertainment sector
($26,285) and retail sector ($27,100). Total employment in these four sectors represented
23.28% of total employment in 2007, virtually unchanged from 24.06% in 2003. The four
largest employers in 2007 were the health care and social assistance at 15.64% of total all
industry employment, local government at 13.22%, retail at 12.33% and manufacturing at
9.84%. Over the five-year period ending in 2007, all industries employment grew at an
annual rate of 1.14%; all private employment grew .95% and employment in the
government sector grew 2.00%.
The fastest growing industries were the state government, administration and
waste services, management of companies and enterprises, construction, and finance and
insurance (Chart Twelve). These five industry groups increased from 15.92% of total
employment in 2003 to 18.22% in 2007. The largest level change occurred in the health
care sector from 17,124 jobs in 2003 to 18,094 jobs in 2007.
Over the same five-year period, employment in the information and transportation
and warehousing sectors experienced negative growth at 3.46% and 3.22%, respectively
(Chart Thirteen). Employment in the information sector declined from 3,142 jobs in 2003
to 2,856 in 2007. Over the same time frame, the number of firms decreased from 163 in
2003 to 155 in 2007. Average wages grew at an annual rate of 7.46%, second only to the
10.14% growth in the average wages paid in the management of companies and
enterprises sector. Job loss in the transportation and warehousing sector numbered 404
while the number of firms declined from 157 in 2003 to 153 in 2007. Average wages
grew at an annual rate of 6.04%.
14
Total employment (all industries employment) includes private employment and employment in the government
sector.
20
The size of the bubble represents the five-year annual growth rate.
Chart Twelve
Rockland County: Industry sectors
that grew 2.5% or more between 2003 and 2007
7.00%
Percentage of Total 2007
Employment
6.00%
Construction,
4.52%
State
Government,
5.06%
5.00%
4.00%
3.00%
M anagement of
Companies and
enterprises,
4.61%
Admin. and Waste
Services, 5.27%
2.00%
Finance and
Insurance, 2.70%
1.00%
0.00%
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$100,000
$120,000
Ave rage Wage s 2007
Chart Thirteen
Rockland County: Industry Sectors
that grew - 2.5% or less between
2003 and 2007
5.00%
Percent of Total Employment
2007
4.50%
4.00%
3.50%
3.00%
Transportation
and Warehousing,
-3.22%
Information,
-3.46%
2.50%
2.00%
1.50%
1.00%
$20,000
$40,000
$60,000
$80,000
Average Wages 2007
21
Sullivan County
► Average wages were 64.69% of the Hudson Valley average and
55.47% of the New York state average
►Average private sector wages were 63.05% of average all government wages
► All industries employment grew at an annual rate
of .59% between 2003-2007
In the year 2007, employment in Sullivan County represented 2.78 % of total
employment 15 in the Hudson Valley and .30% of all industries employment in New York
state. Average wages at $32,991 were 64.69% of the average wages in the Hudson Valley
($51,000) and 55.47% of average wages in New York state ($59,474). Average private
sector wages at $29,168 were 63.05% of average all government wages ($46,259). The
local, state and federal government sectors were the largest employers in the county –
24.15% of total all industry employment – the public sector also paid some of the highest
wages in the region. In 2007, the average wages paid by the state government was
$55,970; the federal and local government sectors paid average wages of $44,836 and
$42,333, respectively. The only private sector industries which paid comparable wages
were in finance and insurance at $55,658 and mining at $45,221.
The lowest paying jobs were in the education services sector ($14,335), the
accommodation and food services sector ($16,740), the other services sector ($19,300)
and the real estate sector ($20,612). These four sectors accounted for 16.19% of total
employment in 2007, compared to 19.42% in 2003. The contraction between 2003 and
2007 can be traced to a 548 job loss in the accommodation and food services sector.
Over the same time period, the number of firms in the accommodation and food
sector declined from 267 in 2003 to 263 in 2007. Over the five-year period ending in
2007, all industries employment grew at an annual rate of .59%; all private employment
grew.61% and employment in the government sector did not change. The fastest growing
industries were arts and entertainment, administration and waste management,
management of companies and enterprises, followed by mining, manufacturing and
construction. These six industry groups increased from 11.55% of total employment in
2003 to 15.70% in 2007. The largest level change occurred in the manufacturing sector
from 971 jobs in 2003 to 1,349 jobs in 2007(Chart Fourteen).
15
Total employment (all industries employment) includes private employment and employment in the
government sector.
22
The size of the bubble represents the five-year annual growth rate.
Chart Fourteen
Sullivan County: Indus try s e ctors that gre w by 2.5%
or gre ate r be twe e n 2003 and 2007
Percent of Total Employment 2007
7.00%
M anufacturing,
8.45%
6.00%
Construction,
5.61%
5.00%
Administrative and
Waste Services,
11.97%
4.00%
3.00%
M anagement of
Companies and
Enterprises, 5.71%
2.00%
1.00%
Arts, Entertainment,
and Recreation,
13.84%
0.00%
M ining, 9.64%
-1.00%
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
$45,000
$50,000
$55,000
Ave rage Wage s 2007
Chart Fifteen
Sullivan County: Indus try s e ctors that gre w
by -2.5% or le s s be twe e n 2003 and 2007
P erc en t o f T o tal E m p lo ym etn 2007
12.00%
Accommodation and
Food Services,
5.56%
10.00%
8.00%
6.00%
Other Services,
3.06%
4.00%
2.00%
0.00%
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
Ave rage Wage s 2007
23
$40,000
Ulster County
► Average wages were 68.63% of the Hudson Valley average and
58.55% of the New York state average
►Average private sector wages were 67.59%
of all government average wages
► All industries employment grew at an annual rate
of 1.84% between 2003-2007
In the year 2007, employment in Ulster County represented 6.68 % of total
employment 16 in the Hudson Valley and .73% of all industries employment in New York
state. Average wages at $35,001 were 68.63% of the average wages in the Hudson Valley
($51,000) and 58.85% of average wages in New York State ($59,474). Average private
sector wages at $31,545 were 67.59% of average government wages ($46,672).
The highest average wages in the county were paid by the management of
companies and enterprises sector and the federal and state government sectors, followed
by the finance and insurance sector. The largest employers were the local government at
15.47% of total employment, the retail sector at 15.02% and health care and social
assistance at 13.64%. The lowest paying jobs in the county were in the accommodation
and food services sector ($16,801), the arts and entertainment sector ($21,183) and the
educational services sector ($23,235). These three sectors represented 12.45% of total
employment in 2007 compared to 12.22% in 2003.
Over the five-year period ending in 2007, all industries employment grew at an
annual rate of .17%; all private employment grew.27% and employment in the
government sector declined at an annual rate of .16%. The fastest growing industries
were management of companies and enterprises, administration and waste services, arts
and entertainment, real estate, construction and educational services (Chart Sixteen).
These six industries have increased from 10.74% of total employment in 2003 to 14.07%
in 2007. Within this group, management of companies and enterprises, construction and
professional and technical services paid wages above the all industry average at $55,523,
$38,195 and $36,467, respectively.
Over the same five-year period, employment in the information and
manufacturing sectors recorded negative growth rates of 21.86% and 4.62%,
respectively(Chart Seventeen). Employment in the information sector contracted from
2,691 jobs in 2003 to 1,014 jobs in 2007. During the same time period, the number of
firms in the information sector grew 1.93%, from 92 at the beginning of the five-year
period to 99 at the end of 2007. Employment in the manufacturing sector declined by 952
jobs to 4,248 in 2007; the number of firms declined from 220 in 2003 to 211 in 2007.
16
Total employment (all industries employment) includes private employment and employment in the
government sector.
24
The size of the bubble represents the five-year annual growth rate.
Chart Sixteen
Uls te r County: Indus try se ctors that gre w by 2.5%
or more be twe e n 2003-2007
Percent of Total Employment 2007
7.00%
Adminis trative and
Waste Se rvice s,
13.35%
6.00%
5.00%
Construction, 3.11%
4.00%
Educational Se rvice s ,
3.01%
3.00%
2.00%
Re al Estate and
Re ntal and Le as ing,
5.40%
1.00%
0.00%
-1.00%
Arts, Ente rtainme nt,
and Re cre ation,
6.89%
$10,000
$20,000
$30,000
$40,000
M anage me nt of
Companie s and
Ente rprise s , 29.09%
$50,000
$60,000
$70,000
$60,000
$70,000
Average Wages 2007
Chart Seventeen
Uls te r County: Indus try s e ctors that gre w by -2.5%
or le s s be twe e n 2003 and 2007
Percent of Total Employment in
2007
8.00%
7.00%
6.00%
M anufacturing,
-4.62%
5.00%
4.00%
3.00%
Information,
-21.86%
2.00%
1.00%
0.00%
$10,000
$20,000
$30,000
$40,000
Average Wages 2007
25
$50,000
Westchester County
► Average wages were 121.10% of the Hudson Valley average and
103.76% of the New York state average
► All industries employment grew at an annual rate
of .93% between 2003-2007
In the year 2007, employment in Westchester County represented 45.09 % of total
employment 17 in the Hudson Valley and 4.92% of all industries employment in New
York state. Average wages at $61,708 were 121.10% of the average wages in the Hudson
Valley ($51,000) and 103.76% of average wages in New York state ($59,474). Average
private sector wages at $62,061 were 103.85% of average government wages ($59,761).
The six highest average wages in the county were paid in the management of companies
and enterprises sector ($253,606), the finance and insurance sector ($129,035), the
manufacturing sector ($93,030), the professional and technical services sector ($89,276),
the wholesale trade sector ($84,408) and the information sector ($81,705). Over the fiveyear period ending in 2007, employment in the management of companies and
enterprises sector and the finance and insurance sector expanded from 6.42% of total
employment in 2003 to 7.33% in 2007. Employment in the manufacturing sector
declined from 4.97% of total employment in 2003 to 4.35% in 2007; employment in the
information sector declined from 3.49% of total employment in 2003 to 2.93% in 2007.
Over the same time period, the number of firms in the manufacturing and information
sectors declined by 27 and 44, respectively.
The lowest paying jobs in the county were in the accommodation and food service
sector ($22,297), other services sector ($29,626), retail trade ($31,553) and the arts and
entertainment sector ($33,427).Total employment in these four sectors represented
24.09% of total employment in 2007, virtually unchanged from 23.75% in 2003. The four
largest employers in 2007 were the health care and social assistance sector at 15.02%,
local government at 12.65%, retail at 11.87% and construction at 6.53% of total all
industry employment.
Over the five-year period ending in 2007, all industries employment grew at an
annual rate of .93%; all private employment grew 1.09% and employment in the
government sector grew .08%. The fastest growing industry sectors were management of
companies and enterprises, finance and insurance, construction, transportation and
warehousing and educational services (Chart Nineteen). Of these five industries,
management of companies and enterprises and finance and insurance were the only two
sectors which paid average wages above the all industry average. Over the same five-year
period, employment declined in information, the federal government, manufacturing and
arts and entertainment.
17
Total employment (all industries employment) includes private employment and employment in the government
sector.
26
The size of the bubble represents the five-year annual growth rate.
Chart Eighteen
Percent of Total Employment 2007
We s tche s te r County: Indus try s e ctors that gre w
2.5% or M ore be twe e n 2003-2007
7.00%
Cons truction,
3.02%
6.00%
5.00%
4.00%
Finance and
Ins urance , 4.19%
Educational
Se rvice s , 2.36%
3.00%
2.00%
M anage me nt of
Companie s ,5.39%
Transportion and
Ware housing,
2.59%
1.00%
$20,000
$70,000
$120,000
$170,000
$220,000
$270,000
$320,000
Ave rage Wage s 2007
Chart Nineteen
We stche s te r County: Industry s e ctors that gre w - 2.5%
or le s s be twe e n 2003-2007
Percent of Total Employment 2007
7.00%
6.00%
5.00%
4.00%
M anufacturing,
-2.27%
Arts and
Ente rtainme nt,
-2.26%
3.00%
2.00%
Fe de ral
Gove rnme nt,
-2.34%
1.00%
Information,
-2.87%
0.00%
$20,000
$40,000
$60,000
$80,000
Ave rage Wage s 2007
27
$100,000
$120,000
Total Personal Income (2007)
►Net earnings by residence increased $4.76 billion
►Interest, dividends and rents increased $1.98 billion
►Transfer payments advanced $0.82 billion
According to the Bureau of Economic Analysis, total personal income (TPI) 18 for
residents of the Hudson Valley advanced 6.19%, from $122.00 billion in 2006 19 to
$129.56 billion in 2007. The $7.56 billion increase is explained by a $4.76 billion
advance in net earnings by residence, a $1.98 billion increase in income on real and
financial assets – interest, dividends and rents – and a .82 billion increase in transfer
payments.
Table Four
Total Personal Income: Year 2007
(In thousands of dollars)
Source: BEA
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
NYS
U.S.
Earnings by
Residence
1,361,413
8,504,246
964,441
9,280,806
3,800,936
11,284,122
1,474,548
3,977,110
47,009,896
87,657,518
602,444,110
7,882,235,000
Earnings from Real and
Financial Assets
422,236
1,973,842
211,325
1,710,401
721,520
2,603,983
322,107
1,038,443
17,581,756
26,585,613
153,142,463
2,039,293,000
Transfer
Payments
435,328
1,697,932
336,448
2,048,432
518,582
1,996,382
609,728
1,167,807
6,510,214
15,320,853
145,232,104
1,712,794,000
Total Personal
Income (TPI)
2,218,977
12,176,020
1,512,214
13,039,639
5,041,038
15,884,487
2,406,383
6,183,360
71,101,866
129,563,984
90,018,677
11,634,322,000
Total personal income in the U.S. and New York state advanced 5.98% and
6.11%, respectively. Within the Hudson Valley, Rockland experienced the largest yearover-year increase at 7.74%, followed by Westchester at 6.43% and Dutchess at 6.11%.
Greene recorded the smallest increase at 3.56%.
Net Earnings by Residence (2007)
The net earnings of residents 20 of the Hudson Valley increased 5.74%, from $82.9
billion in 2006 to $87.7 billion in 2007. Residents of Rockland, Dutchess, Westchester
and Putnam recorded increases greater than the U.S. average of 4.99%. The smallest
18
Total personal income is the sum of earnings by place of residence, income on real and financial assets and transfer
payments. It is the most inclusive definition of regional income.
19
In April of 2009, The Bureau of Economic Analysis released revised 2006 income numbers.
20
Net earnings by residence consist of earnings by place of work, less contributions to government social insurance,
plus adjustment for residence.
28
increases were recorded in Columbia, Greene and Ulster counties at 3.41%, 3.51% and
3.67%, respectively (Chart Twenty).
Chart Twenty
Percentage Change in Nominal Net Earnings by Place of Residence: 2006-2007
Source: BEA
8.18%
7.60%
4.57%
4.13%
3.51%
3.41%
5.74%
3.67%
Ulster
Sullivan
Rockland
Putnam
Orange
Greene
Dutchess
Columbia
NYS
.U.S
5.69%
Hudson
Valley
5.69%
4.99%
Westchester
6.02%
Adjustment for Residence 21 (2007)
► Net inflow of wages, salaries and benefits increased 7.78%
In the year 2007, 28.66% of all wages, salaries and benefits were earned in a
county other than the worker’s resident county. Moreover, the adjustment for
Chart Twenty-one
70.00%
80.00%
60.00%
70.00%
60.00%
50.00%
50.00%
40.00%
40.00%
30.00%
30.00%
20.00%
20.00%
10.00%
10.00%
0.00%
Contribution to the Change in
Income by Residence 2006-2007
Percent of Income By Residence
The Adjustment for Residence 2007
0.00%
Columbia
Dutchess
Greene
Orange
Percent of Income by Residence
Putnam
Rockland
Sullivan
Ulster Westchester Hudson
Valley
Contribution to the Change in Income by Residence
21
The adjustment for residence captures the wage, salary and benefits earned by Hudson Valley residents who work
outside their “home” county.
29
residence – net inflow of wages, salaries and benefits – accounted for 38.14% of the yearover-year increase in the region’s income by residence. Overall, the adjustment for
residence advanced 7.78%, from $23.31 billion in 2006 to $25.12 billion in 2007. This
year-over-year increase – greater than the 4.81% year-over-year increase in income by
place of work – suggests that either the number of persons employed outside of their
home county has increased and/or there has been a significant shift away from low
compensation employment – outside of the worker’s home county – toward high
compensation employment – outside of the worker’s home county. 22
In the year 2007, 62.04% of the increased in income by residence in Putnam
County could be traced to a net inflow of wages, salaries and benefits —the adjustment
for residence. Over the same time period, Dutchess and Sullivan counties posted
residence adjustments less than the region average of 28.66%.
Earnings from Real and Financial Assets (2007)
►Across the region, interest, dividends and rent advanced 8.04%
In the year 2007, unearned income – earnings from real and financial assets –
advanced 8.04% relative to 2006 and 23.57% relative to 2005. Nationwide unearned
income posted a year-over-year advanced of 9.16%. New York state recorded a smaller
increase at 6.91%.Within the region, the largest increases in income from real and
financial assets occurred in Westchester at 8.93%, followed by Columbia and Rockland
at 7.19% and 6.90%, respectively.
Chart Twenty-Two
$20,000.00
10.00%
$18,000.00
9.00%
$16,000.00
8.00%
$14,000.00
7.00%
$12,000.00
6.00%
$10,000.00
5.00%
$8,000.00
4.00%
$6,000.00
3.00%
$4,000.00
2.00%
$2,000.00
1.00%
$0.00
0.00%
Columbia
Dutchess
Greene
Orange
Putnam
Per Capita
22
Rockland
Sullivan
Ulster Westchester Hudson
Valley
Percentage Change
A third possibility is a shift toward low paying jobs across the Hudson Valley.
30
Percentage Change
Per Capita
Income of Re al and Financial As s e ts : Pe r Capita and Ye ar-Ove r-Ye ar Pe rce ntage Change
Transfer Payments (2007)
►Transfer payments expanded 5.74% compared
to a 4.56% advance statewide and a 6.89% increase nationwide.
Transfer payments include, but are not limited to: retirement and disability
benefits; old-age, survivors and disability insurance benefits; medical benefits; income
maintenance benefits; state unemployment insurance compensation; veteran’s benefits;
and federal training and educational assistance.
Chart Twenty-Three
Pe r Capita Tranfe r Payme nts 2006 and 2007
Columbia
$6,996
Dut chess
$5,810
Greene
$6,859
Orange
$5,442
P ut nam
$5,227
Rockland
$6,722
Sullivan
$7,979
Ulst er
$6,431
W est chest er
$6,856
Hudson Valley
$3,000
$6,427
$4,000
$5,000
$6,000
2007
$7,000
$8,000
$9,000
2006
In the year 2007, per-capita transfer payments in the Hudson Valley region were
$6,427, compared to $6,096 in 2006. This is 86.00% of the national average ($7,475) and
113.05% of the state average ($5,685). Across the region, Sullivan County had the
highest per capita transfer payment at $7,979.
Contribution to Total Personal Income
by Source (2007)
The three primary sources of total personal income (TPI) are wages, salaries and
benefits (earned income); interest, dividends, and rent (unearned income); and transfer
payments. Nationwide, in the year 2007, 67.75% of total personal income was derived
from earned income, 17.53% from unearned income and 14.72% from transfer payments.
In New York state, the earned income component of TPI was lower at 66.88%, while
unearned income and transfer payments were 17.00% and 16.12% of TPI, respectively.
Across the Hudson Valley, the contribution to TPI by source in the year 2007 was
31
virtually unchanged relative to 2006. In 2007 and on average, 67.66% of TPI was earned
income, 20.52% was unearned income and transfer payments were 11.82% of TPI. This
is compared to earned income of 67.51%, unearned income of 20.52% and transfer
payments of 11.97% for 2006.
Chart Twenty-Four
Contibution to TPI by Source: Year 2007
100%
95%
90%
85%
80%
75%
70%
65%
60%
55%
50%
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Total Wages, Salaries and Benefits
Sullivan
Ulster
Westchester Hudson
Valley
Interest, Dividends and Rents
NYS
U.S.
Transfer Payments
Within the region, earned income as a percent of TPI was the highest in Putnam
and Rockland at 75.40% and 71.04% of TPI, respectively. The earned income component
of TPI was the lowest in Sullivan and Columbia at 61.28% and 61.35% of TPI,
respectively. Unearned income – earnings from real and financial assets – as a percent of
TPI was the highest in Westchester at 24.73% of TPI, followed by Columbia at 19.03%
of TPI. Unearned income was the lowest in Orange and Sullivan at 13.12% and 13.39%
of TPI, respectively. Transfer payments were the highest in Sullivan at 25.34% of TPI
and lowest in Westchester at 9.16% of TPI.
Per Capita Total Personal Income (2007)
►Per capita income in the Hudson Valley:
$54,354, up 5.89% from 2006
In the year 2007, the per capita income in Westchester, Rockland, and Putnam counties –
at $74,878, $53,482 and $50,813, respectively – were above both the U.S. and state per
capita incomes of $38,615 and $46,364, respectively. The per capita income in Dutchess
County, at $41,667, was 7.90% above the national level, but fell 10.13% below the state
average. The per capita incomes across the remaining Hudson Valley counties were
below both the national and state average.
32
Chart Twenty-Five
2007 Pe r Capita Income as a Pe rce ntage of U.S. and NYS Pe r Capita Income
As a Percentage of New York State
160.00%
200.00%
140.00%
120.00%
150.00%
100.00%
80.00%
100.00%
60.00%
40.00%
50.00%
20.00%
0.00%
As a Percentage of United States
250.00%
180.00%
0.00%
Columbia Dutchess
Greene
Orange
Putnam Rockland Sullivan
New York State
Ulster Westchester Hudson
Valley
United States
Household Income by Quintile 2005-2007
During the 2005-2007 period, 50% of all income earned in the U.S. accrued to the
top 20% of all households. During the same time frame, the top 5% earned 22.20% of all
income. In New York state, the top 20%’s share of total income was 52.90%; 25% of all
income accrued to the top 5% of all households. In the Hudson Valley, Westchester was
the only county where the share of income that accrued to the top 20% (57.20%) and the
top 5% (28.60%) exceeded both the national and state averages. Across the region,
Putnam County recorded both the smallest share earned by the top 20% (44.30%) and the
largest share earned by the lowest 20% (4.70%).The smallest share that accrued to the top
5% occurred in Orange at 16.60% of all income. An examination of the average income
of the top 20% of all households relative to the average income of the “other” quintiles
(20%) of all households reveals a distribution of income across the Hudson Valley which
is on average “more equal” than the distribution of income in the U.S. and in New York
state. Nationwide, for every one dollar ($1.00) earned by the average household in the
lowest 20% of all households, the average household in the top 20% of all households
earned $14.75. In New York state, the relationship was $18.55 to $1.00. Across the
Hudson Valley, the relationship ranges from a high of $20.90 to 1 in Westchester County
to a low of $9.15 to 1 in Putnam County (Table Five). On average, the relationship was
(approximately) $12.75 to $1.00. If Westchester and Putnam are removed from the mix,
the ratio of the top 20% to the lowest 20% would be $13.42 to $1.00 An inspection of the
average income of the top 20% of all households relative to the average income of the
second, third and fourth quintile (20%) of all households reveals a similar pattern.
Westchester County is the “least equal” county in the Hudson Valley; Putnam County is
the “most equal” county.
33
Table Five: 1 of 3
Distribtuion of Aggregate Income by Household 2005-2007
Source: U.S. Census Bureau, Anerican Communtiy Survey, B19080,B19081,B19082,B19013
Columbia
Lowest Quintile
Second Quintile
Share
Limit
3.90
$0
Mean
Limit
$13,774
$22,298
9.20
Third Quintile
15.30
Fourth Quintile
23.20
Fifth Quintile
48.40
Top 5% (lower)
22.50
$22,298
Mean
$32,832
Limit
Mean
Limit
$54,218
$65,593
Mean
Limit
$82,292
$101,362
Mean
Limit
$172,047
$165,096
Mean
$42,706
$42,706
$65,593
$101,362
$165,096
$319,291
Dutchess
Lowest Quintile
4.20
Second Quintile
10.40
Third Quintile
16.40
Fourth Quintile
24.10
Fifth Quintile
44.90
Top 5% (lower)
17.90
$0
$17,008
$29,903
$29,903
$41,884
$53,650
$53,650
$66,427
$80,562
$80,562
$97,530
$116,733
$116,733
$181,684
$195,225
$195,225
$258,978
Greene
Lowest Quintile
Second Quintile
3.80
$0
$11,503
9.90
Third Quintile
15.00
Fourth Quintile
22.30
Fifth Quintile
49.00
Top 5% (lower)
23.40
$21,483
$21,483
$29,521
$36,296
$36,296
$44,778
$53,252
$53,252
$66,741
$79,750
$79,750
$137,311
$146,285
$146,285
$280,254
Orange
Lowest Quintile
4.00
Second Quintile
10.50
Third Quintile
17.00
Fourth Quintile
24.90
Fifth Quintile
43.60
Top 5% (lower)
16.60
$0
$15,545
$28,102
$28,102
$41,198
$52,708
$52,708
$66,459
$80,082
$80,082
$97,517
$117,385
$117,385
$170,929
$181,724
$181,724
34
$259,955
Table Five: 2 of 3
Distribtuion of Aggregate Income by Household 2005-2007
Source: U.S. Census Bureau, Anerican Communtiy Survey, B19080,B19081,B19082,B19013
Putnam
Share
Limit
Lowest Quintile
4.70
Second Quintile
11.20
Third Quintile
16.70
Fourth Quintile
23.90
Fifth Quintile
43.40
Top 5% (lower)
17.50
$0
Mean
Limit
$24,094
$42,940
$42,940
Mean
$57,149
Limit
Mean
Limit
$84,896
$100,881
Mean
Limit
$121,757
$144,508
Mean
Limit
$220,450
$224,786
Mean
$72,081
$72,081
$100,881
$144,508
$224,786
$356,723
Rockland
Lowest Quintile
3.60
Second Quintile
9.40
Third Quintile
15.80
Fourth Quintile
23.90
Fifth Quintile
47.30
Top 5% (lower)
19.70
Sullivan
Lowest Quintile
Second Quintile
Share
$0
16.00
Fourth Quintile
24.20
Fifth Quintile
46.50
Top 5% (lower)
17.70
$48,258
$63,537
$63,537
$81,174
$99,159
$99,159
$122,736
$151,740
$151,740
$0
Mean
Limit
$11,195
$19,101
9.50
Third Quintile
$32,496
$32,496
Limit
3.80
$18,270
$19,101
Mean
$28,291
Limit
Mean
Limit
$47,897
$58,545
Mean
Limit
$72,265
$88,767
$243,094
$250,687
$250,687
$405,336
Mean
Limit
Mean
$155,511
$138,935
$37,902
$37,902
$58,545
$88,767
$138,935
$211,066
Ulster
Lowest Quintile
3.80
Second Quintile
9.70
Third Quintile
15.90
Fourth Quintile
23.90
Fifth Quintile
46.70
Top 5% (lower)
19.20
$0
$13,214
$23,420
$23,420
$33,500
$43,267
$43,267
$54,868
$67,375
$67,375
$82,393
$101,791
$101,791
$0
$169,345
$161,191
$161,191
35
$265,265
Table Five: 3 of 3
Distribtuion of Aggregate Income by Household 2005-2007
Source: U.S. Census Bureau, Anerican Communtiy Survey, B19080,B19081,B19082,B19013
Westchester
Lowest Quintile
Second Quintile
Share
Limit
2.70
$0
Mean
Limit
$17,294
$31,469
7.30
Third Quintile
12.50
Fourth Quintile
20.30
Fifth Quintile
57.20
Top 5% (lower)
28.60
$31,469
Mean
$45,812
Limit
Mean
Limit
$78,700
$99,580
Mean
Limit
$128,271
$167,195
Mean
Limit
$361,407
$395,957
Mean
$61,194
$61,194
$99,580
$167,195
$395,957
$722,256
New York City
Lowest Quintile
0.02
Second Quintile
0.05
Third Quintile
0.11
Fourth Quintile
0.19
Fifth Quintile
0.63
Top 5% (lower)
0.32
$0
$9,216
$18,370
$18,370
$31,272
$45,846
$45,846
$62,934
$82,478
$82,478
$112,639
$157,369
$157,369
$369,467
$402,475
$402,475
$757,298
$205,345
$205,345
$381,572
$176,570
$176,570
$301,083
NYS
Lowest Quintile
2.90
Second Quintile
8.00
Third Quintile
14.00
Fourth Quintile
22.30
Fifth Quintile
Top 5% (lower)
52.90
25.00
U.S.
Lowest Quintile
Second Quintile
Third Quintile
Fourth Quintile
Fifth Quintile
Top 5% (lower)
3.40
8.80
14.80
22.90
50.00
22.20
$0
$10,872
$20,358
$20,358
$30,516
$41,221
$41,221
$53,322
$66,712
$66,712
$84,897
$107,269
$107,269
$0
$11,505
$20,873
$20,873
$29,993
$39,449
$39,449
36
$50,120
$61,934
$61,934
$77,725
$97,365
$97,365
$201,626
$169,652
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Left Blank
37
Monthly Income Maintenance Benefits (2008)
►Total income maintenance benefits increased 9.94% relative to 2007
►Expenditures on food stamps increased 19.33%; the number of food stamp
recipients posted a year-over-year increase of 9.88%
Across the region, the total expenditure on income maintenance benefits posted a
year-over-year increase of 9.94%, compared to a 5.67% increase in 2007. Statewide,
expenditures on income maintenance benefits expanded 8.59% for the full year 2008.
Across the Hudson Valley, five counties out of nine recorded double-digit, year-overyear increases in total income maintenance benefits. Overall, Ulster recorded the largest
increase at 13.29%; Putnam recorded the smallest increase at 5.06%.
Region-wide, total expenditures on food stamps and temporary assistance posted
year-over-year increases of 19.33% and 10.5%, respectively. Within the region, the yearover-year increase in food stamp expenditures ranged from a high of 23.98% in Ulster
County to a low of 15.51% in Putnam County. Ulster also posted the largest increase in
temporary assistance expenditures at 20.70%; Putnam posted the smallest year-over-year
decrease of 3.4%. In New York state, expenditures on food stamps advanced 17.72%;
expenditures on temporary assistance increased 7.00%. Expenditures on Supplemental
Social Security income advanced 4.18% in the Hudson Valley and 3.97% in New York
state.
Chart Twenty-Six
Year-Over-Year Change in Total Income Maintenance Payments
13.29%
14.00%
12.00%
11.23%
10.00%
11.23% 11.13%
11.22%
9.94%
9.38%
9.26%
8.68%
8.33%
8.59%
Hudson
New York
Valley Total
City
New York
State
8.00%
6.00%
5.06%
4.00%
2.00%
0.00%
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Migration23
►Net migration into the region was a negative 6,242 Households
►Migration from New York City was a positive 4,411 Households
During the period (2006-2007), net migration – defined as inflows less outflows –
into the Hudson Valley was a negative 6,242 households.24 Migration between the
23
24
Data Source: IRS.
A household is equivalent to one personal income tax return filed with the U.S. government.
38
Hudson Valley and other New York counties was a negative 3,847 households. Of this
total, the region experienced a net inflow of 4,411 households from New York City.
Migration between the Hudson Valley and the two states of New Jersey and Connecticut
was a negative 1,227 households. Migration outside the tri-state area – defined as New
York, New Jersey, and Connecticut – was a negative 8,862 households.
The number of households that moved within the Hudson Valley was 11,501
compared to 12,633 in the 2005-2006 period. This inter-regional activity accounted for
23.05% of all outflows and 26.35% of all inflows. Consistent with earlier findings 25 ,
migration within the Hudson Valley displayed a near perfect correlation with median
housing values: migration flowed from high median housing areas to areas with lower
median housing values. The counties that experienced the largest regional inflows were
Dutchess at 470 households, followed by Ulster and Orange at 402 households and 273
households, respectively.
During the 2006-2007 period, 2,472 households moved into Westchester County
from New York City. During the same time frame, 1,163 households moved away from
Westchester in favor of other Hudson Valley communities. Of this total, there was a net
outflow of 491 to Dutchess, 347 households to Putnam and 194 to Orange. From Putnam,
258 households migrated to Dutchess.
From Westchester
To Dutchess
To Putnam
To Orange
To Dutchess
From Dutchess, 200 households migrated to Ulster and 53 households migrated to
Columbia. The primary migratory flows from Ulster and Columbia were into Greene.
From Dutchess
To Columbia
To Ulster
To Greene
To Greene
From Rockland, 379 households moved into Orange; from Orange, 160 households
moved into Ulster and 138 households moved into Sullivan.
From Orange
To Ulster
To Sullivan
To Sullivan
25
Economic Report of the Hudson Valley Annual 2006, Marist College, Bureau of Economic Research
39
Home Sales, Prices and Building Permits
► 2008 homes sales were 40.16% off the 2004 peak
► Average housing price decreased 8.15% relative to 2007
►The median housing price fell 6.44%
►Construction spending on Single Family Homes declined 52.62% from peak
For the full year 2008, the number of existing homes sold fell 22.90%, compared
to 2007 and 29.37% compared to 2006. In the first quarter of 2009, home sales were
down 26.29%, compared with the same period in 2008. In New York State, existing
home sales declined 15.32% on the year and 27.20% quarter-over-quarter. Nationwide,
sales retrenched 13.08% in 2008.
Chart Twenty-Seven
Huds on Valle y Ave rage Sale s Price Tre nd:
Data Source NYSAR
$700,000
7000
$650,000
6000
5000
$550,000
$500,000
4000
$450,000
3000
$400,000
2000
# Homes Sold
Average Sales Price
$600,000
$350,000
1000
$300,000
$250,000
0
2000
2001
2002
2003
2004
2005
Average Selling Price
2006
2007
2008
Home Sales
Each county in the region recorded both a year-to-year and quarter-to-quarter
decline in home sales. The largest year-over-year contraction in the number of homes
sold occurred in Orange, Westchester and Columbia at -29.38%, -25.81% and -23.06%,
respectively. Greene and Sullivan counties experienced the smallest decline in existing
home sales at -8.30% and -13.43%. Between the first quarter of 2008 and the first quarter
of 2009, the largest percentage declines occurred in Columbia at -47.30%, Westchester at
-41.90% and Ulster at -32.30%. With the number of homes sold in 2008 falling faster
than 2008 sales volume, the average selling price of an existing home in the Hudson
Valley fell 8.15% relative to 2007. The median selling price recorded a year-over-year
decline of 6.44%. During the same time frame, the median selling price of an existing
home in New York state and the U.S. declined 9.65% and 9.54%, respectively. The
40
average selling price in New York state decreased .93%; nationwide, the average selling
price declined 8.76%.By year-end, the average selling price of an existing home in the
Hudson Valley at $550,200 was 126.70% above the national average and 71.92% above
of the state average. Greene was the only county in the region with an average selling
price below the national average. Home prices in Dutchess, Orange, Putnam, Rockland
and Westchester continue to exceed the both the state and national averages of $320,025
and $242,700, respectively. The median selling price of an existing home in the Hudson
Valley, at $318, 540, was 60.80% above the national median and 47.51% above the state
median. The only counties in the region with median selling prices below the state and
national medians were Greene and Sullivan. Since 2000, the average selling price of a
single-family home in the Hudson Valley has advanced 75.30%; the median selling price
has increased 115.16%. 26
Chart Twenty-Eight
Ave rage and M e dian Hous ing Value s 2008
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
Co lum bia Dutchess
Greene
Orange
P utnam
Ro ckland
Average
Sullivan
Ulster
Westchester Hudso n
Valley
N ew Yo rk
State
U.S.
M edian
Across the Hudson Valley, construction spending on new single-family homes
declined 27.87%, from $833 million in 2007 to $601 million in 2008. The average cost
per permit recorded a year-over-year advance of 1.74, compared to a 2.74% year-overyear increase in 2007.
26
When looking at housing data, the median selling price it captures the cost of a typical home. When the
average selling price is greater than the median, it is an indication that the distribution of the housing stock
is skewed to the left (i.e. a large stock of low-to-medium valued homes with a nontrivial stock of expensive
homes). 2008 sales data supports reduced activity in the high end of the market.
41
Chart Twenty-Nine
Single Family Permits, Select Years
Source: Census Bureau
Logarithmic Scale
10,000
1,000
100
10
C o lum bia
D utc he s s
Gre e ne
1999
194
1,075
128
2002
301
909
197
O ra nge
P utna m
R o c kla nd
S ulliva n
Uls te r
1,383
372
1,727
308
We s tc he s te r
659
213
443
1,360
220
527
718
1,049
2008
116
354
169
626
75
246
313
270
321
2004
356
926
416
1,480
196
206
656
851
898
Relative to 2007, the number of construction permits fell 29.10%.The largest
reduction in aggregate spending occurred in Ulster at -38.23%, followed by Sullivan and
Greene at -34.88% and -33.67%, respectively. The smallest declined occurred in Putnam
at 4.02%. From the peak in 2004 27 , annual construction spending on single-family homes
has declined 52.62%, or $667 million.
Average Housing Values and Income28
►In 2007 the “average house” in the Hudson Valley
cost 11.02 times per capita income
►Number of households in financial distress continued to climb
During the five-year period ending in 2007, the ratio of average housing values to
per capita income increased 4.65% from 10.53 to 1 in 2003 to 11.02 to 1 in 2007. Over
the same time frame, the ratio of housing values to per capita income advanced .31%
nationwide and fell .16% in New York state. A similar pattern exits with the 10-year –
1998-2007 – growth in average housing values relative to the 10-year growth in total
27
Revised census data moves the peak from 2005 as reported in the 2008 Annual Report of the Hudson Valley to 2004.
In the long run, housing values display a stable relationship with income, employment and population growth.
However, in the short-run, housing values can and do de-link from economic fundamentals.
28
42
Dutchess County
Ratio Average Housing Values to Per Capita Income
Columbia County
Ratio Average Housing Values to Per Capita Income
10.00
9.55
9.21
9.00
8.00
7.00
6.00
6.02
5.00
4.00
1998
1999
2000
2001
2002
2003
2004
2005
2006
12.00
11.00
10.00
9.00
8.00
7.00
6.00
5.00
4.00
3.00
2.00
2007
10.60
9.44
5.53
1998
1999
Greene County
Ratio Average Housing Values to Per Capita Income
7.00
2000
2001
2002
2003
2004
2005
2006
2007
Orange County
Ratio Average Housing Values to Per Capita Income
13.00
6.71
12.32
12.00
6.00
11.66
11.00
10.00
5.00
4.00
9.00
8.00
3.84
7.00
3.67
6.00
3.00
5.89
5.00
2.00
4.00
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Putnam County
Ratio Average Housing Values to Per Capita Income
11.00
1998
2000
2001
2002
2003
2004
2005
2006
2007
Rockland County
Ratio Average Housing Values to Per Capita Income
16.00
14.77
10.48
14.00
10.00
9.13
9.00
1999
8.00
12.89
12.00
10.00
7.00
6.11
8.00
6.00
6.41
6.00
5.00
4.00
4.00
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
1998
1999
Sullivan County
Ratio Average Housing Values to Per Capita Income
2000
2001
2002
2003
2004
2005
2006
Ulster County
Ratio Average Housing Values to Per Capita Income
10.00
11.00
8.88
9.00
9.76
10.00
8.00
9.13
9.00
7.00
6.32
8.00
6.00
7.00
5.00
4.00
2007
6.00
3.32
5.10
5.00
3.00
2.00
4.00
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
1998
1999
Westchester County
Ratio Average Housing Values to Per Capita Income
2000
2002
2003
2004
2005
2006
2007
United States and New York State
Ratio Average Housing Values to Per Capita Income
15.00
New York State
13.82
14.00
2001
United States
9.00
13.00
12.50
12.00
8.34
8.00
7.48
6.89
7.40
7.00
11.00
5.91
10.00
6.00
9.00
5.00
8.00
8.40
7.00
4.00
6.00
3.00
1998
1999
2000
2001
2002
2003
2004
2005
2006
3.72
1998
2007
Source: NYSAR, Bureau of Economic Analysis
Compiled by Bureau of Economic Research, Marist College
1999
2000
2001
2002
2003
2004
2005
2006
2007
6/29/2009
43
personal income. On average, both across the nation and within the region, the ten year
growth in total personal income has lagged behind the 10-year growth in housing values.
An examination of the five-year trend – 2003-2007 – exposes a near term peak and the
beginnings of a downward trend. In 2007, the growth in housing values began to slow
and, in some (limited) cases, fall while income continued to rise. As a result, the gap
between income and housing values began to contract. The short term result was an
increase in the affordability of homes in the Hudson Valley by residents of the Hudson
Valley. However, careful attention must be paid to current economic conditions. Rising
unemployment coupled with stagnant wages, benefits and givebacks will significantly
impact the growth rate of earned income.
Chart Thirty
Five-Year Growth in Average Housing Values and Total Personal Income
20.0%
18.9%
18.0%
16.0%
14.0%
10.0%
11.5%
11.3%
12.0%
10.1%
8.9%
8.7%
8.0%
6.8%6.4%
5.4%
5.0%
6.0%
4.4%
6.8%
6.0%
6.3%
4.5%
8.2%
5.9%
6.54%
6.80%
6.21%
5.57%
4.1%
4.0%
2.0%
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Five-Year Growth in Average Housing Values
Ulster
Westchester
NYS
U.S.
Five-Year Growth in Total Personal Income
Chart Thirty-One
Ten-Year Growth in Average Housing Values and Total Personal Income
16.0%
15.3%
14.9%
14.0%
14.0%
12.8%
12.2%
12.0%
11.61%
12.0%
10.7%
9.6%
9.7%
10.0%
8.0%
6.61%
6.0%
4.0%
4.8%
4.4%
4.8%
4.6%
4.3%
3.3%
4.0%
4.5%
4.7%
4.40%
4.83%
2.0%
Colum bia
Dutches s
Greene
Orange
Putnam
Rockland
10 Year Growth in Average Hous ing Values
Sullivan
Uls ter
Wes tches ter
NYS
U.S.
Ten Year Growth in Total Pers onal Incom e
Coincident with the disjoint between the growth in housing values and income
was an increase in the percentage of households in financial distress. The U.S. Census
44
Bureau estimates that between the years 2005 and 2007, the number of households
nationwide in financial distress advanced 8.75%, from 34.51% in 2005 to 37.53% in
2007. Over the same time frame, New York state experienced a 6.70% increase from
39.70% in 2005 to 41.52% in 2007.
Table Six
Percent of Owner Occupied Housing Units with Mortgages
with Housing Costs Greater Than or Equal to 30% of 12-Month Income
2007
Estimate
Upper
Bound
2006
Lower
Bound
Estimate
2005
Upper
Bound
Lower
Bound
Upper
Bound
Estimate
Lower
Bound
United States
37.53%
37.72%
37.34%
36.93%
37.20%
36.67%
34.51%
34.66%
34.37%
New York
Columbia
(2005-2007)
41.52%
42.64%
40.38%
40.93%
42.15%
39.70%
38.91%
39.89%
37.91%
34.82%
41.90%
26.77%
N/A
N/A
N/A
N/A
N/A
N/A
Dutchess
Greene
( 2005-2007)
44.30%
50.47%
37.60%
41.43%
49.28%
33.57%
38.45%
45.96%
30.31%
39.10%
49.60%
27.00%
N/A
N/A
N/A
N/A
N/A
N/A
Orange
46.72%
53.42%
39.48%
45.91%
54.78%
37.05%
36.36%
41.98%
30.10%
Putnam
52.00%
62.89%
39.41%
47.00%
60.39%
33.61%
45.68%
56.98%
32.47%
Rockland
47.71%
54.96%
39.74%
45.74%
53.88%
37.61%
39.65%
45.81%
32.96%
Sullivan
39.28%
52.50%
22.75%
46.85%
64.26%
29.43%
31.02%
41.20%
18.73%
Ulster
42.91%
51.01%
33.66%
39.93%
51.26%
28.61%
36.56%
44.49%
27.30%
Westchester
43.31%
47.72%
38.68%
42.91%
48.24%
Data Source: U.S. Census Bureau, The American Community Survey, B25101
37.58%
39.72%
44.13%
34.99%
As might be expected, the lower the household’s 12-month income, the greater
the probability that the household is in financial distress. Across the region, there are two
key income levels: $50,000-$74,000 and $75,000 or more. On average, with the
exception of the northern counties of Columbia and Greene and the western county of
Sullivan, households with annual income less than $75,000 experienced more distress
than their counterparts with annual income of $75,000 and above. In Columbia, Greene
and Sullivan, the key income range was $50,000-$74,000.
Table Seven
Percent of Owner Occupied Housing Units with Mortgages with Costs
greater than or equal to 30% of 12 Month Income
Columbia
Dutchess
Greene
Orange
Mortgage
W
W/o
W
W/o
W
W/o
W
W/o
$20,000
to
$34,999
$35,000
to
$49,999
$50,000
to
$74,999
$75,000
or more:
Households
Less than
$20,000
11,703
100.00%
90.51%
67.27%
37.20%
9.24%
6,766
79.39%
21.17%
6.35%
1.50%
0.24%
52,210
100.00%
89.63%
84.97%
64.47%
20.47%
21,799
83.12%
43.63%
6.26%
1.31%
0.25%
8,319
100.00%
80.21%
72.20%
25.98%
5.99%
5,849
70.54%
21.18%
5.29%
0.45%
1.15%
64,191
97.59%
94.01%
85.25%
67.77%
23.03%
22,260
81.69%
47.07%
12.20%
1.20%
1.89%
45
Median
Income
2005-2007
$54,207
$66,296
$45,177
$60,445
Table Seven (continued)
Percent of Owner Occupied Housing Units with Mortgages with Costs
greater than or equal to 30% of 12 Month Income
Putnam
Rockland
Sullivan
Ulster
Westchester
Mortgage
W
W/o
W
W/o
W
W/o
W
W/o
W
W/o
$35,000
to
$49,999:
$50,000
to
$74,999
$75,000
or
more:
Households
Less than
$20,000:
$20,000
to
$34,999:
21,454
94.98%
96.93%
95.47%
81.19%
31.64%
7,129
86.25%
59.58%
21.64%
6.72%
0.00%
50,384
97.22%
96.22%
92.27%
79.22%
28.88%
18,908
91.44%
61.49%
26.73%
4.45%
0.04%
12,173
100.00%
97.20%
70.86%
35.43%
10.58%
7,799
84.07%
27.76%
21.21%
0.00%
0.00%
30,174
96.77%
83.91%
79.90%
48.28%
17.06%
16,800
76.43%
33.74%
6.69%
2.80%
0.00%
144,479
97.87%
92.93%
83.42%
71.06%
30.20%
69,221
88.23%
69.97%
43.74%
18.69%
3.12%
Median
Income
20052007
$84,306
$81,471
$47,325
$54,871
$77,856
Sales Tax Collection
One indicator of retail sales activity is sales tax collection. Across the region, total
sales tax collection advanced .75% for the full year 2008, compared to a 3.52% advance
in 2007. The largest percentage increase occurred in Putnam at 11.26%, followed by
Sullivan and Columbia at 4.31% and 4.06%, respectively. Sales tax collection fell 1.64%
in Dutchess and was unchanged in Rockland.
Regional Inflation
The all item CPI (prices of all goods and services) in the New York- Northern
New Jersey-Long Island metropolitan statistical area (MSA) increased at an annual rate
of 3.90% for the full year 2008, up from 2.8% for the full year 2007. In the first five
months of 2009, the all item inflation rate for the New York- Northern New Jersey- Long
Island MSA was fell .10% compared to a 4.00% year-over-year advance in May of 2008.
Over the same time frame, the U.S. City Average all items CPI fell 1.30%. Across the
region, core inflation—all items less food and energy— advanced 2.40% in May of 2009
relative to May of 2008. 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%.
46
Table Eight
12 Month Percentage
Change as Reported by
the BLS
Core
New York-Northern NJ- Long Island
May-09 May-08 Dec-08 Dec-07
U.S. City Average
May-09 May-08 Dec-08
Dec-07
2.40%
2.10%
2.50%
2.30%
1.80%
2.30%
2.30%
2.30%
-0.10%
4.00%
3.90%
2.80%
-1.30%
4.20%
3.80%
2.80%
Food
2.90%
5.70%
5.70%
4.00%
2.70%
5.10%
5.50%
4.00%
Rent Primary Residence
5.30%
4.50%
5.10%
4.50%
3.00%
3.50%
3.70%
4.30%
Owner's Equivalent Rent
3.40%
3.10%
3.20%
3.60%
2.10%
2.60%
2.50%
3.40%
-9.90%
13.20%
13.40%
5.40%
-8.70%
11.90%
10.50%
2.60%
Gasoline
-39.60%
25.50%
17.50%
5.70%
-39.40%
20.80%
16.60%
8.20%
Medical
0.00%
2.80%
2.30%
5.50%
3.20%
4.10%
3.70%
4.40%
Services less Medical
2.50%
3.20%
3.60%
3.20%
1.50%
3.50%
3.40%
3.20%
All Items
Household Energy
Bankruptcies
For the full year 2008, total bankruptcies in the southern and northern districts advanced
33.20% and 8.70%, respectively, compared to a 15.70% year-over-year increase in New
York state. Total business bankruptcies in New York state increased 34.39%. Statewide,
non-business bankruptcies increased 19.18%. Of this total, Chapter 7 fillings advanced
from 32,264 in 2007 to 41,299 for the full year 2008.
47
Average Annual Labor Force for Hudson Valley Counties
2003-2008
% Change
County
2008
2007
2006
2005
2004
2003
2003-2008
Peak
(Year)
% Change
From Peak
Columbia
% Change from Previous Yr.
31,862
-1.0%
32,186
0.1%
32,160
0.2%
32,092
-7.6%
34,750
0.2%
34,692
0.5%
-8.16%
34,750
2004
-8.31%
Dutchess
% Change from Previous Yr.
146,950
-0.6%
147,856
-1.3%
149,838
1.3%
147,882
12.1%
131,950
1.1%
130,450
0.7%
12.65%
149,838
2006
-1.93%
Greene
% Change from Previous Yr.
24,311
0.9%
24,083
-0.1%
24,095
2.1%
23,605
3.3%
22,858
-2.2%
23,367
1.0%
4.04%
24,311
2008
NM
Orange
% Change from Previous Yr.
180,815
1.2%
178,703
-1.1%
180,743
1.4%
178,282
3.7%
171,875
1.2%
169,908
2.0%
6.42%
180,743
2006
0.04%
Putnam
% Change from Previous Yr.
56,391
0.3%
56,249
-1.2%
56,906
1.2%
56,243
-9.3%
61,992
3.6%
59,850
1.4%
-5.78%
61,992
2004
-9.04%
Rockland
% Change from Previous Yr.
155,704
2.5%
151,854
-1.3%
153,833
1.0%
152,254
-4.9%
160,025
1.2%
158,142
1.4%
-1.54%
160,025
2004
-2.70%
Sullivan
% Change from Previous Yr.
35,748
1.1%
35,365
-1.7%
35,976
1.7%
35,389
5.2%
33,625
2.8%
32,700
0.3%
9.32%
35,976
2006
-0.63%
Ulster
% Change from Previous Yr.
90,702
-2.3%
92,859
-0.6%
93,409
1.3%
92,214
5.2%
87,675
1.4%
86,467
0.6%
4.90%
93,409
2006
-2.90%
Westchester
% Change from Previous Yr.
496,216
2.4%
484,500
-1.3%
490,685
1.2%
485,012
3.5%
468,483
0.2%
467,750
0.3%
6.09%
496,216
2008
NM
Total Hudson Valley
% Change from Previous Yr.
1,218,699
1.3%
1,203,650
-1.1%
1,217,647
1.2%
1,202,972
2.5%
1,173,233
0.9%
1,163,325
0.8%
4.76%
1,218,699
2008
NM
New York City
% Change from Previous Yr.
3,949,538
-3.5%
4,091,274
7.6%
3,801,972
1.1%
3,761,477
2.0%
3,687,192
0.1%
3,682,967
-1.2%
7.24%
4,091,274
2007
-3.46%
New York State
% Change from Previous Yr.
9,679,617
1.7%
9,519,301
0.2%
9,498,563
0.7%
9,429,656
1.2%
9,315,000
0.0%
9,315,250
-0.3%
3.91%
9,679,617
2008
NM
U.S.
% Change from Previous Yr.
154,346,000
0.8%
153,083,500
1.1%
151,427,583
1.4%
149,320,333
1.3%
147,401,167
0.6%
146,510,000
1.1%
5.35%
154,346,000
2008
NM
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
48
6/26/2009
Average Annual Employment for Hudson Valley Counties
2003-2008
County
2008
2007
2006
2005
2004
2003
% Change
2003-2008
Peak
(Year)
% Change
From Peak
Columbia
% Change from Previous Yr.
30,302
-1.7%
30,813
-0.5%
30,958
0.3%
30,855
-7.8%
33,458
0.0%
33,475
0.5%
-9.48%
33,475
2003
-9.48%
Dutchess
% Change from Previous Yr.
139,361
-2.0%
142,249
-1.4%
144,231
1.5%
142,141
12.2%
126,675
0.9%
125,517
1.0%
11.03%
144,231
2006
-3.38%
Greene
% Change from Previous Yr.
22,854
-0.4%
22,952
-0.1%
22,972
2.2%
22,478
3.7%
21,683
-2.5%
22,242
0.9%
2.75%
22,972
2006
-0.52%
Orange
% Change from Previous Yr.
170,956
-0.2%
171,290
-1.2%
173,346
1.5%
170,835
4.5%
163,425
0.9%
161,900
1.6%
5.59%
173,346
2006
-1.38%
Putnam
% Change from Previous Yr.
53,875
-1.0%
54,419
-1.0%
54,943
1.4%
54,172
-9.6%
59,933
3.6%
57,850
1.5%
-6.87%
59,933
2004
-10.11%
Rockland
% Change from Previous Yr.
148,185
1.2%
146,381
-1.1%
148,058
1.4%
145,980
-4.9%
153,558
1.3%
151,633
1.2%
-2.27%
153,558
2004
-3.50%
Sullivan
% Change from Previous Yr.
33,386
-0.6%
33,596
-1.9%
34,236
1.7%
33,662
5.8%
31,817
2.6%
31,017
0.2%
7.64%
34,236
2006
-2.48%
Ulster
% Change from Previous Yr.
85,680
-3.8%
89,078
-0.6%
89,598
1.5%
88,245
5.7%
83,450
0.8%
82,767
0.5%
3.52%
89,598
2006
-4.37%
Westchester
% Change from Previous Yr.
472,208
1.1%
466,925
-1.1%
471,948
1.4%
465,325
3.5%
449,425
0.1%
449,042
0.5%
5.16%
472,208
2008
NM
Total Hudson Valley
% Change from Previous Yr.
1,156,806
-0.1%
1,157,702
-1.1%
1,170,289
1.4%
1,153,694
2.7%
1,123,425
0.7%
1,115,442
0.9%
3.71%
1,170,289
2006
-1.15%
New York City
% Change from Previous Yr.
3,730,777
2.1%
3,652,462
1.0%
3,616,432
2.0%
3,545,866
3.6%
3,424,225
1.5%
3,374,900
-1.7%
10.54%
3,730,777
2008
NM
New York State
% Change from Previous Yr.
9,152,934
0.7%
9,087,278
0.2%
9,072,733
1.3%
8,959,845
2.2%
8,771,167
0.5%
8,726,417
-0.5%
4.89%
9,152,934
2008
NM
U.S.
% Change from Previous Yr.
145,476,667
-0.4%
146,002,833 144,427,000
1.1%
1.9%
141,729,750
1.8%
139,251,917
1.1%
137,736,000
0.9%
5.62%
144,427,000
2006
0.73%
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
49
6/26/2009
Average Annual Unemployment for Hudson Valley Counties
2003-2008
County
2008
2007
2006
2005
2004
2003
% Change
2003-2008
Peak
(Year)
% Change
From Peak
Columbia
% Change from Previous Yr.
4.89%
14.6%
4.27%
14.1%
3.74%
-3.0%
3.85%
3.7%
3.72%
6.0%
3.51%
-0.46%
39.43%
3.51%
2003
39.32%
Dutchess
% Change from Previous Yr.
5.16%
36.1%
3.79%
1.3%
3.74%
-3.6%
3.88%
-2.9%
4.00%
5.7%
3.78%
-8.27%
36.44%
3.74%
2006
37.97%
Greene
% Change from Previous Yr.
6.00%
27.8%
4.70%
0.7%
4.66%
-2.4%
4.78%
-7.1%
5.14%
6.8%
4.81%
2.06%
24.62%
4.66%
2006
28.76%
Orange
% Change from Previous Yr.
5.44%
31.1%
4.15%
1.4%
4.09%
-2.0%
4.18%
-15.0%
4.92%
4.3%
4.71%
8.91%
15.42%
4.09%
2006
33.01%
Putnam
% Change from Previous Yr.
4.45%
36.8%
3.25%
-5.6%
3.45%
-6.3%
3.68%
10.9%
3.32%
-0.6%
3.34%
-2.58%
33.17%
3.25%
2007
36.92%
Rockland
% Change from Previous Yr.
4.82%
33.7%
3.60%
-4.0%
3.75%
-8.9%
4.12%
2.0%
4.04%
-1.8%
4.12%
5.91%
17.12%
3.60%
2007
33.89%
Sullivan
% Change from Previous Yr.
6.63%
32.6%
5.00%
3.4%
4.84%
-0.9%
4.88%
-9.3%
5.38%
4.5%
5.15%
2.20%
28.79%
4.84%
2006
36.98%
Ulster
% Change from Previous Yr.
5.53%
35.8%
4.07%
-0.2%
4.08%
-5.2%
4.30%
-10.7%
4.82%
12.6%
4.28%
1.92%
29.23%
4.07%
2007
35.87%
Westchester
% Change from Previous Yr.
4.83%
33.1%
3.63%
-5.0%
3.82%
-5.9%
4.06%
-0.2%
4.07%
1.7%
4.00%
-5.52%
20.76%
3.63%
2007
33.06%
Total Hudson Valley
% Change from Previous Yr.
5.08%
33.0%
3.82%
-1.8%
3.89%
-5.1%
4.10%
-3.5%
4.25%
3.1%
4.12%
-0.94%
23.38%
3.82%
2007
32.95%
New York City
% Change from Previous Yr.
5.54%
-48.4%
10.73%
119.8%
4.88%
-14.9%
5.73%
-19.6%
7.13%
-14.7%
8.36%
6.07%
-33.78%
4.88%
2006
13.50%
New York State
% Change from Previous Yr.
5.44%
19.9%
4.54%
1.2%
4.48%
-10.0%
4.98%
-14.7%
5.84%
-7.6%
6.32%
3.33%
-13.92%
4.54%
2007
19.85%
U.S.
% Change from Previous Yr.
5.75%
24.2%
4.63%
0.0%
4.62%
-9.1%
5.08%
-8.1%
5.53%
-7.7%
5.99%
3.55%
-4.05%
4.62%
2007
24.38%
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
50
6/26/2009
Quarter-to-Quarter % Change (from Previous Year) in Employment
for the Hudson Valley 2001-2008
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
-1.00%
-2.00%
-3.00%
-4.00%
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
United States
6/24/2009
51
Annual Nonagricultural Employment ( Not Seasonally Adjusted)
County or Region
NAICS Industry Classification
Columbia
Total Nonfarm
Total Private
Goods Producing
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Other Services
Government
21,300
16,200
2,800
1,100
1,700
18,500
3,800
300
600
1,600
4,400
1,700
1,000
5,100
21,400
16,300
2,900
1,100
1,800
18,500
3,800
300
600
1,700
4,300
1,800
1,000
5,100
21,600
16,600
3,000
1,000
2,000
18,600
4,000
300
600
1,500
4,400
1,800
1,000
5,000
21,400
16,400
3,000
1,000
2,100
18,400
3,900
400
600
1,500
4,400
1,700
1,000
5,000
21,400
16,500
3,100
900
2,200
18,400
4,000
400
600
1,500
4,300
1,600
1,000
5,000
Greene
Total Nonfarm
Total Private
Goods Producing
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Other Services
Government
15,100
10,400
1,900
800
1,100
13,200
3,200
200
400
600
1,300
2,400
400
4,700
15,200
10,500
1,900
900
1,000
13,200
3,200
200
400
600
1,300
2,400
400
4,600
14,800
10,300
1,900
900
1,000
12,900
3,000
200
400
600
1,300
2,400
500
4,500
14,500
10,000
1,700
800
900
12,900
3,200
200
400
600
1,200
2,400
400
4,500
14,200
9,700
1,600
700
900
12,600
3,000
200
400
600
1,100
2,300
400
4,500
Sullivan
Total Nonfarm
Total Private
Goods Producing
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Other Services
Government
26,900
20,100
2,700
1,400
1,300
24,100
4,500
200
1,300
1,500
5,700
2,900
1,300
6,700
26,700
20,200
2,700
1,400
1,400
24,000
4,500
200
1,400
1,500
5,600
3,000
1,200
6,600
26,400
19,900
2,600
1,400
1,300
23,800
4,600
200
1,400
1,400
5,400
3,200
1,200
6,500
26,500
20,100
2,500
1,300
1,100
24,000
4,700
200
1,300
1,400
5,100
3,600
1,200
6,400
26,400
20,000
2,300
1,200
1,100
24,200
4,800
200
1,400
1,200
5,200
3,700
1,300
6,400
Kingston, NY
Total Nonfarm
Total Private
Goods Producing
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Retail
Other Services
Government
63,100
47,600
6,800
2,800
4,000
56,300
12,600
1,000
2,600
4,400
10,400
7,100
9,400
2,700
15,500
63,600
48,300
7,100
2,800
4,300
56,500
12,600
1,100
2,800
4,600
10,300
7,000
9,500
2,700
15,400
63,400
48,100
7,400
3,000
4,400
56,000
12,400
1,100
2,900
4,800
10,300
7,000
9,400
2,800
15,300
63,500
48,100
7,200
2,800
4,500
56,300
12,400
1,600
2,800
4,300
10,000
6,900
9,400
2,800
15,400
64,500
49,100
7,500
2,800
4,800
57,000
12,300
1,800
2,700
4,300
10,200
6,900
9,200
2,800
15,500
Poughkeepsie-NewburghTotal Nonfarm
Total Private
Middletown, NY Metropolitan Statistical
Goods Producing
Area
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Retail
Other Services
Government
255,300
202,900
32,800
11,700
21,000
222,600
56,500
4,700
9,500
21,600
48,100
20,000
36,600
9,800
52,400
255,600
203,900
34,200
12,300
21,900
221,400
56,700
4,600
10,000
20,800
47,400
20,300
36,600
10,000
51,800
255,500
204,000
35,000
12,100
22,900
220,400
56,200
4,600
10,300
21,100
47,100
19,900
36,200
9,800
51,400
253,900
202,500
35,400
12,000
23,300
218,600
55,500
4,500
10,300
21,200
46,000
20,000
35,700
9,700
51,400
251,700
200,900
35,400
11,300
24,100
216,300
55,200
4,600
10,300
20,500
45,700
19,600
35,600
9,600
50,800
Metropolitan Statistical Area
2008
Data Source: NYS Department of Labor.
Complied by The Bureau of Economic Research, School of Management, Marist College
2007
2006
2005
2004
6/25/2009
52
Annual Nonagricultural Employment (continued)
Putnam-Rockland-Westchester
Total Nonfarm
Total Private
Goods Producing
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Retail
Other Services
Government
582,100
484,600
68,700
37,900
30,800
513,400
109,400
15,800
36,400
73,100
113,000
43,500
67,000
24,800
97,500
579,500
482,900
69,400
37,900
31,500
510,000
110,500
16,300
36,900
72,300
110,700
42,500
67,500
24,400
96,500
569,500
474,600
67,300
35,400
31,900
502,200
110,200
16,800
37,400
70,600
107,900
40,400
66,800
23,900
94,900
566,200
471,000
66,200
33,700
32,400
500,000
109,800
17,200
38,000
70,100
105,700
40,500
66,300
23,500
95,200
563,700
468,400
65,800
33,300
32,500
497,400
108,600
18,100
35,700
71,100
104,500
41,500
65,700
23,200
95,300
Albany-Schenectady-
Total Nonfarm
Total Private
Goods Producing
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Retail
Other Services
Government
450,900
342,800
40,700
18,200
22,500
410,200
76,000
9,600
26,000
56,300
82,300
33,500
49,000
18,500
108,100
449,000
341,200
41,300
18,200
23,100
407,700
77,500
9,900
26,200
54,400
80,400
33,100
49,600
18,300
107,800
446,900
340,200
41,400
18,200
23,300
405,500
79,000
10,700
26,700
53,400
78,700
32,300
50,300
18,200
106,800
446,600
338,300
41,300
18,200
23,100
404,300
80,100
10,900
26,400
52,100
77,700
31,900
50,500
18,200
107,300
444,600
336,200
40,700
17,900
22,800
402,900
79,600
10,900
26,100
50,900
77,900
31,800
50,300
18,400
107,400
New York City
Total Nonfarm
Total Private
Goods Producing
Construction
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Retail
Other Services
Government
3,790,200
3,226,600
226,500
36,900
131,500
95,100
3,563,600
573,200
167,700
465,100
605,000
719,300
308,300
299,400
161,400
563,600
3,743,800
3184800
228,300
34,600
127,300
101,000
3,515,500
570,600
165,500
467,900
593,200
705,100
297,800
295,400
157,700
559,000
3,666,600
3,111,400
224,600
30,800
118,500
106,100
3,442,100
558,300
164,600
458,300
571,800
694,700
284,900
287,400
154,300
555,400
3,602,500
3,046,900
227,200
28,400
113,300
113,900
3,375,300
347,500
162,800
445,100
555,600
678,000
276,700
281,300
153,200
555,600
3,549,300
2,995,000
232,600
27,100
111,800
120,800
3,316,700
539,300
160,200
435,500
541,500
665,300
270,100
273,500
150,500
554,400
New York State
Total Nonfarm
Total Private
Goods Producing
Construction
Natural Resources, Mining and Construction
Manufacturing
Service-Providing
Trade, Transportation, and Utilities
Information
Financial Activities
Professional and Business Services
Educational and Health Services
Leisure and Hospitality
Retail
Other Services
Government
8,794,900
7,282,700
900,500
360,100
6,300
534,100
7,894,400
1,524,300
263,300
722,400
1,156,800
1,631,200
715,600
896,700
368,500
1,512,200
8,734,000
7,233,000
911,500
352,200
6,200
553,100
7,822,600
1,524,900
264,200
731,100
1,138,300
1,599,200
701,100
894,300
362,800
1,501,100
8,618,400
7,133,100
911,500
337,400
6,200
567,900
7,706,900
1,509,000
266,800
726,300
1,108,800
1,573,500
680,200
883,200
357,000
1,485,300
85,370,000
7,047,800
912,100
325,300
5,900
580,100
7,625,000
1,500,100
269,300
713,300
1,082,700
1,543,800
670,500
878,900
356,000
1,489,300
8,464,800
6,981,000
924,900
322,200
5,700
597,000
7,540,000
1,486,800
268,800
701,900
1,058,700
1,526,300
663,500
868,000
352,900
1,483,800
Troy, NY Metropolitan Statistical Area
Data Source: NYS Department of Labor.
Complied by The Bureau of Economic Research, School of Management, Marist College
6/25/2009
53
Select Average Weekly Wages in the Hudson Valley
by Place of Work
2003 - Third Qt. 2008
% change 2007-2006
2008 3rd Qt. (P)
2007
2006
2005
2004
Current
Dollars
2003
Inflation
Adjusted
Dollars
Columbia
All
$623
$644
$616
$600
$604
$563
4.55%
0.65%
Total Private
Goods Producing
Construction
$620
$622
$604
$583
$597
$553
2.98%
-0.92%
$599
$708
$705
$665
$660
$654
0.43%
-3.47%
$684
$668
$652
$595
$622
$634
2.45%
-1.45%
Manufacturing
Service- Providing
$765
$791
$778
$737
$725
$701
1.67%
-2.23%
$596
$597
$573
$557
$576
$521
4.19%
0.29%
$703
$660
$622
$604
$573
$535
6.11%
2.21%
NA
$722
$595
$590
$563
$525
21.34%
17.44%
$860
$858
$828
$797
$767
$750
3.62%
-0.28%
$844
$843
$814
$786
$762
$749
3.56%
-0.34%
$1,406
$1,464
$1,395
$1,343
$1,310
$1,266
4.95%
1.05%
$918
$902
$911
$827
$792
$768
-0.99%
-4.89%
$1,680
$1,750
$1,634
$1,578
$1,522
$1,467
7.10%
3.20%
$692
$668
$644
$619
$596
$582
3.73%
-0.17%
$818
$746
$708
$648
$635
$620
5.37%
1.47%
NA
$908
$880
$786
$687
$681
3.18%
-0.72%
$648
$638
$629
$632
$608
$593
1.43%
-2.47%
$568
$553
$540
$514
$498
$514
2.41%
-1.49%
$866
$860
$807
$752
$708
$740
6.57%
2.67%
$742
$773
$725
$667
$638
$718
6.62%
2.72%
$1,002
$972
$910
$861
$797
$795
6.81%
2.91%
$494
$481
$477
$466
$454
$471
0.84%
-3.06%
$616
$556
$553
$544
$532
$488
0.54%
-3.36%
NA
$793
$781
$783
$760
$671
1.54%
-2.36%
All
Total Private
Goods Producing
$711
$719
$698
$677
$653
$628
3.01%
-0.89%
$665
$659
$643
$625
$605
$585
2.49%
-1.41%
$804
$798
$786
$764
$750
$729
1.53%
-2.37%
Construction
Manufacturing
$827
$821
$816
$796
$768
$765
0.61%
-3.29%
$832
$820
$802
$777
$772
$741
2.24%
-1.66%
$642
$636
$620
$602
$581
$560
2.58%
-1.32%
$720
$693
$675
$632
$608
$586
2.67%
-1.23%
NA
$964
$918
$837
$782
$732
5.01%
1.11%
All
$816
$837
$813
$779
$755
$728
2.95%
-0.95%
Total Private
Goods Producing
$785
$781
$758
$727
$714
$682
3.03%
-0.87%
Private Health and Education
Local Health and Education
Dutchess
All
Total Private
Goods Producing
Construction
Manufacturing
Service- Providing
Private Health and Education
Local Health and Education
Greene
All
Total Private
Goods Producing
Construction
Manufacturing
Service- Providing
Private Health and Education
Local Health and Education
Orange
Service- Providing
Health and Education
Local Health and Education
Putnam
Construction
Manufacturing
Service- Providing
Private Health and Education
Local Health and Education
$1,004
$989
$928
$900
$908
$848
6.57%
2.67%
$977
$974
$896
$865
$876
$804
8.71%
4.81%
$1,061
$1,028
$994
$969
$977
$933
3.42%
-0.48%
$728
$726
$715
$686
$667
$644
1.54%
-2.36%
$844
$817
$805
$748
$733
$676
1.49%
-2.41%
NA
$1,287
$1,271
$1,144
$1,022
$1,052
1.26%
-2.64%
$918
$909
$864
$825
$809
$780
5.21%
1.31%
$908
$888
$843
$812
$792
$763
5.34%
1.44%
$1,270
$1,243
$1,234
$1,205
$1,181
$1,146
0.73%
-3.17%
$1,046
$1,026
$1,014
$1,030
$980
$959
1.18%
-2.72%
Rockland
All
Total Private
Goods Producing
Construction
Source: U.S. Bureau of Labor Statistics
Complied by The Bureau of Economic Research, Marist College
6/26/2009
54
Select Average Weekly Wages in the Hudson Valley
by Place of Work
2003 - Third Qt. 2008
% change 2007-2006
2008 3rd Qt. (P)
Manufacturing
Service- Providing
Private Health and Education
2007
2006
2005
2004
Current
Dollars
2003
Inflation
Adjusted
Dollars
$1,392
$1,361
$1,341
$1,284
$1,277
$1,232
1.49%
-2.41%
$824
$803
$752
$720
$702
$675
6.78%
2.88%
$908
$814
$746
$723
$699
$656
9.12%
5.22%
NA
$1,152
$1,090
$1,027
$993
$962
5.69%
1.79%
$606
$634
$619
$614
$599
$579
2.42%
-1.48%
$560
$561
$546
$522
$509
$488
2.75%
-1.15%
$653
$619
$635
$617
$604
$542
-2.52%
-6.42%
$730
$692
$700
$704
$682
$588
-1.14%
-5.04%
$566
$548
$558
$525
$542
$508
-1.79%
-5.69%
$545
$551
$531
$507
$495
$480
3.77%
-0.13%
$663
$649
$621
$615
$606
$595
4.51%
0.61%
NA
$913
$889
$880
$847
$798
2.70%
-1.20%
$659
$673
$648
$591
$567
$548
3.86%
-0.04%
$603
$607
$587
$555
$540
$511
3.41%
-0.49%
$764
$761
$739
$705
$682
$663
2.98%
-0.92%
$762
$735
$706
$697
$678
$660
4.11%
0.21%
$850
$847
$831
$769
$738
$699
1.93%
-1.97%
$570
$576
$556
$525
$510
$479
3.60%
-0.30%
$661
$640
$624
$597
$580
$560
2.56%
-1.34%
NA
$951
$907
$678
$597
$650
4.85%
0.95%
All
Total Private
Goods Producing
Construction
Manufacturing
$1,086
$1,187
$1,128
$1,071
$1,026
$961
5.23%
1.33%
$1,088
$1,194
$1,126
$1,033
$1,029
$962
6.04%
2.14%
$1,356
$1,417
$1,404
$1,337
$1,325
$1,269
0.93%
-2.97%
$1,202
$1,180
$1,129
$1,070
$1,075
$1,051
4.52%
0.62%
$1,617
$1,788
$1,801
$1,693
$1,646
$1,547
-0.72%
-4.62%
Service- Providing
Private Health and Education
$1,048
$1,160
$1,086
$1,033
$986
$915
6.81%
2.91%
$895
$882
$856
$824
$793
$756
3.04%
-0.86%
NA
$1,260
$1,227
$1,122
$1,061
$1,001
2.69%
-1.21%
All
$1,030
$1,143
$1,067
$999
$960
$909
7.12%
3.22%
Total Private
Goods Producing
Construction
Manufacturing
$1,046
$1,181
$1,095
$1,019
$977
$921
7.85%
3.95%
$1,049
$1,063
$1,016
$976
$948
$921
4.63%
0.73%
$1,101
$1,074
$1,018
$970
$947
$937
5.50%
1.60%
$1,036
$1,077
$1,034
$999
$966
$930
4.16%
0.26%
Service- Providing
$1,045
$1,199
$1,107
$1,025
$981
$921
8.31%
4.41%
$835
$804
$775
$746
$723
$695
3.74%
-0.16%
$877
$927
$899
$839
$819
$791
3.11%
-0.79%
Local Health and Education
Sullivan
All
Total Private
Goods Producing
Construction
Manufacturing
Service- Providing
Private Health and Education
Local Health and Education
Ulster
All
Total Private
Goods Producing
Construction
Manufacturing
Service -Providing
Private Health and Education
Local Health and Education
Westchester
Local Health and Education
New York State
Private Health and Education
Local Health and Education
Source: U.S. Bureau of Labor Statistics
Complied by The Bureau of Economic Research, Marist College
6/26/2009
55
Total U.S. NonFarm Employees
(Seasonally Adjusted in Thousands)
Month
2008
2007
2006
2005
2004
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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
Average
% Change
137,046
-0.41%
137,604
1.11%
136,098
1.79%
133,699
1.73%
131,419
1.09%
Monthly Changes in LABSTAT Series Report
(in Thousands)
Period
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
(144)
(122)
(160)
(137)
(161)
(128)
(175)
(321)
(380)
(597)
(681)
(741)
Total
Average
(3,747)
(312)
2007
2006
36
184
35
156
54
(65)
(28)
100
165
215
120
(150)
822
69
2005
2004
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.
6/26/2009
56
Wage and hours data for Manufacturing workers (NAICS 30)
Average Weekly Hours
New York State**
January
February
March
April
May
June
July
August
September
October
November
December
2008
40.0
40.0
40.2
40.2
39.5
39.4
39.1
39.6
39.3
39.0
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
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
57
6/29/2009
Wage and hours data for Manufacturing workers (NAICS 30)
Average Hourly Earnings
New York State
January
February
March
April
May
June
July
August
September
October
November
December
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
$17.77
$17.74
$17.56
$17.78
$17.73
$17.83
$17.56
$17.87
$17.90
$17.62
$17.95
$17.93
2004
$17.17
$17.00
$16.92
$17.20
$17.26
$17.24
$17.15
$17.32
$17.67
$17.33
$17.45
$17.74
2003
$16.78
$16.69
$16.73
$16.69
$16.70
$16.60
$16.57
$16.88
$16.89
$16.71
$16.91
$17.21
2002
$16.65
$16.81
$16.84
$17.00
$16.70
$16.61
$16.39
$16.64
$16.76
$16.67
$16.98
$16.84
United States
January
February
March
April
May
June
July
August
September
October
November
December
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
58
6/29/2009
Wage and hours data for Manufacturing workers (NAICS 30)
Average Weekly Earnings
New York State
January
February
March
April
May
June
July
August
September
October
November
December
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
$736.00
$758.08
$766.92
$738.30
$757.27
$757.38
$749.50
$757.06
$772.88
2005
$698.36
$698.96
$688.35
$704.09
$698.56
$697.15
$676.06
$700.50
$713.81
$713.61
$721.59
$724.37
2004
$679.93
$673.20
$671.72
$672.52
$688.67
$682.70
$667.14
$687.60
$697.97
$688.00
$701.49
$718.47
2003
$676.64
$673.01
$674.62
$665.93
$669.67
$664.00
$646.23
$656.63
$678.98
$670.07
$679.78
$695.28
2002
$662.67
$677.44
$683.70
$683.40
$676.35
$669.38
$649.04
$665.04
$680.46
$673.47
$689.39
$692.12
United States
January
February
March
April
May
June
July
August
September
October
November
December
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
59
6/29/2009
Average Weekly Earnings of Manufacturing Workers
$800.00
$780.00
$760.00
Dollars
$740.00
$720.00
$700.00
$680.00
$660.00
$640.00
$620.00
$600.00
2003
2004
2005
2006
2007
NYS
2008
USA
Length of Average Work Week for Manufacturing Workers
43
42
41
Hours
40
39
38
37
36
35
2003
2004
2005
2006
NYS
Source: Bureau of Labor Statistics
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
60
2007
2008
USA
6/29/2009
United States of America Total Personal Income (TPI)
1998-2007
1998
Population (persons)
Per capita personal income (dollars)
Wage and salary disbursements ($000)
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
275,854,104
279,040,168
282,171,936
285,039,803
287,726,647
290,210,914
292,892,127
295,560,549
298,362,973
301,290,332
0.96%
$26,883
$27,939
$29,847
$30,582
$30,838
$31,530
$33,157
$34,690
$36,794
$38,615
3.83%
$4,179,922,000
$4,463,650,000
$4,825,906,000
$4,939,944,000
$4,976,522,000
$5,107,298,000
$5,388,680,000
$5,665,392,000
$6,020,799,000
$6,355,759,000
4.31%
$831,722,000
$880,775,000
$948,315,000
$993,918,000
$1,104,311,000
$1,191,021,000
$1,269,098,000
$1,345,933,000
$1,396,794,000
$1,448,625,000
6.75%
Employer contributions for employee pension and
insurance funds
$525,262,000
$557,944,000
$605,320,000
$637,864,000
$739,693,000
$809,299,000
$861,464,000
$918,558,000
$948,983,000
$983,724,000
7.83%
Employer contributions for government social insurance
$306,460,000
$322,831,000
$342,995,000
$356,054,000
$364,618,000
$381,722,000
$407,634,000
$427,375,000
$447,811,000
$464,901,000
4.71%
$629,941,000
$680,545,000
$730,458,000
$774,137,000
$770,485,000
$810,604,000
$909,685,000
$958,585,000
$1,015,157,000
$1,043,856,000
5.76%
$31,535,000
$30,869,000
$24,763,000
$21,935,000
$12,668,000
$28,545,000
$35,376,000
$32,870,000
$16,600,000
$31,650,000
-0.39%
$598,406,000
$649,676,000
$705,695,000
$752,202,000
$757,817,000
$782,059,000
$874,309,000
$925,715,000
$998,557,000
$1,012,206,000
5.98%
$5,641,585,000
$6,024,970,000
$6,504,679,000
$6,707,999,000
$6,851,318,000
$7,108,923,000
$7,567,463,000
$7,969,910,000
$8,432,750,000
$8,848,240,000
4.85%
Plus: Supplements to wages and salaries
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
Equals: Earnings by place of work ($000)
$623,147,000
$660,395,000
$701,650,000
$730,005,000
$748,787,000
$777,556,000
$827,415,000
$872,860,000
$924,059,000
$964,574,000
4.83%
Employee and self-employed contributions for government
social insurance
$316,687,000
$337,564,000
$358,655,000
$373,951,000
$384,169,000
$395,834,000
$419,781,000
$445,485,000
$476,248,000
$499,673,000
4.95%
Employer contributions for government social insurance
$306,460,000
$322,831,000
$342,995,000
$356,054,000
$364,618,000
$381,722,000
$407,634,000
$427,375,000
$447,811,000
$464,901,000
4.71%
$1,022,000
$1,030,000
$1,060,000
$1,093,000
$1,162,000
$1,198,000
$1,228,000
$1,257,000
$1,292,000
$1,431,000
3.61%
Equals: Net earnings by place of residence ($000)
$5,017,416,000
$5,363,545,000
$5,801,969,000
$5,976,901,000
$6,101,369,000
$6,330,169,000
$6,738,820,000
$7,095,793,000
$7,507,399,000
$7,882,235,000
4.86%
Plus: Dividends, interest, and rent
$1,419,686,000
$1,410,543,000
$1,536,284,000
$1,546,360,000
$1,485,161,000
$1,468,652,000
$1,549,599,000
$1,636,711,000
$1,868,206,000
$2,039,293,000
3.41%
$978,607,000
$1,022,049,000
$1,083,821,000
$1,193,731,000
$1,286,341,000
$1,351,499,000
$1,422,944,000
$1,520,469,000
$1,602,448,000
$1,712,794,000
6.54%
$7,415,709,000
$7,796,137,000
$8,422,074,000
$8,716,992,000
$8,872,871,000
$9,150,320,000
$9,711,363,000
$10,252,973,000
$10,978,053,000
$11,634,322,000
4.83%
Less: Contributions for government social insurance
Plus: Adjustment for residence
Plus: Personal current transfer receipts
Equals: Personal income ($000)
Source: Regional Economic Information System, Bureau of Economic Anaysis, U.S. Deaprtment of Commerence
Complied by: Bureau of Economic Research, Marist College
6/26/2009
61
New York State Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
18,755,906
18,882,725
18,998,429
19,088,220
19,161,573
19,230,877
19,301,113
19,336,376
19,367,028
19,429,316
0.38%
$31,555
$32,816
$34,898
$35,618
$35,363
$36,064
$38,338
$40,781
$43,724
$46,364
4.01%
Wage and salary disbursements ($000)
$343,477,768
$365,395,640
$400,389,483
$409,929,265
$400,159,919
$406,548,023
$431,824,743
$452,938,051
$488,038,912
$529,083,776
4.15%
Plus: Supplements to wages and salaries
Population (persons)
Per capita personal income (dollars)
Growth
$62,299,697
$65,220,565
$70,860,469
$74,190,102
$81,058,574
$85,564,321
$92,579,052
$100,483,470
$105,195,718
$110,147,705
6.85%
Employer contributions for employee pension and insurance
funds
$36,459,250
$38,345,965
$42,054,391
$44,329,956
$50,666,660
$54,165,027
$59,671,208
$66,526,009
$69,294,879
$72,644,330
8.59%
Employer contributions for government social insurance
$25,840,447
$26,874,600
$28,806,078
$29,860,146
$30,391,914
$31,399,294
$32,907,844
$33,957,461
$35,900,839
$37,503,375
4.03%
$64,318,377
$68,842,936
$67,372,591
$67,031,369
$68,289,516
$69,133,223
$75,182,071
$80,155,943
$86,414,029
$87,766,904
3.46%
$270,825
$416,632
$294,134
$365,058
$17,056
$247,806
$409,248
$466,414
$205,953
$701,861
5.58%
$64,047,552
$68,426,304
$67,078,457
$66,666,311
$68,306,572
$68,885,417
$74,772,823
$79,689,529
$86,208,076
$87,065,043
3.45%
$470,095,842
$499,459,141
$538,622,543
$551,150,736
$549,508,009
$561,245,567
$599,585,866
$633,577,464
$679,648,659
$726,998,385
4.44%
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
Equals: Earnings by place of work ($000)
$51,013,926
$53,641,776
$57,239,416
$59,469,854
$60,352,947
$61,947,244
$65,286,401
$67,916,145
$72,175,940
$76,008,391
4.22%
Employee and self-employed contributions for government
social insurance
$25,173,479
$26,767,176
$28,433,338
$29,609,708
$29,961,033
$30,547,950
$32,378,557
$33,958,684
$36,275,101
$38,505,016
4.41%
Employer contributions for government social insurance
$25,840,447
$26,874,600
$28,806,078
$29,860,146
$30,391,914
$31,399,294
$32,907,844
$33,957,461
$35,900,839
$37,503,375
4.03%
$28,638,695
$30,402,236
$34,495,079
$35,416,421
$31,536,908
$31,238,435
$35,098,648
$38,171,296
$42,828,219
$48,545,884
4.73%
Equals: Net earnings by place of residence ($000)
$390,443,221
$415,415,129
$446,888,048
$456,264,461
$457,618,154
$468,059,888
$499,200,817
$527,490,023
$564,644,500
$602,444,110
4.44%
Plus: Dividends, interest, and rent
$108,539,418
$108,354,209
$115,783,562
$113,584,886
$103,078,144
$102,457,764
$108,460,110
$129,937,988
$143,248,499
$153,142,463
3.38%
$92,864,486
$95,889,496
$100,333,553
$110,036,301
$116,908,016
$123,015,368
$132,307,646
$131,133,218
$138,902,465
$145,232,104
5.33%
$591,847,125
$619,658,834
$663,005,163
$679,885,648
$677,604,314
$693,533,020
$739,968,573
$788,561,229
$846,795,464
$900,818,677
4.40%
Less: Contributions for government social insurance
Plus: Adjustment for residence
Plus: Personal current transfer receipts
Equals: Personal income ($000)
Source: Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce.
omplied by: Bureau of Economic Research, Marist College
6/26/2009
62
New York State
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Growth in the
Number of Firms
(within industry)
Agriculture, Forestry, Fishing & Hunting
0.75%
Average
Growth in Total
Growth in Average
Employment Growth Compensation (within Compensation per
(within Industry)
Industry)
job (within Industry)
Level Change in
Level Change in
Average Wages by
Average Wages by
Avg. Employ. by
Avg. Employ. by
Industry (2007)
Industry (2006)
Industry (2007-2003) Industry (2006-2002)
Ranked from Highest Ranked from Highest Ranked from Highest Ranked from Highest
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
0.34%
4.37%
4.02%
22
22
22
22
23
Mining
1.16%
5.51%
9.39%
3.68%
11
11
23
Utilities
2.42%
-1.32%
2.48%
3.85%
3
3
20
21
Construction
3.19%
2.63%
6.24%
3.51%
9
9
10
10
4
Manufacturing
-1.07%
-2.47%
1.10%
3.66%
8
8
6
Wholesale Trade
0.16%
0.27%
4.79%
4.51%
6
6
9
9
Retail Trade
0.43%
1.11%
4.37%
3.22%
21
21
3
3
Transportation and Warehousing
0.80%
1.60%
4.77%
3.12%
17
16
15
15
Information
0.24%
-0.91%
4.25%
5.21%
4
4
13
13
Finance and Insurance
2.41%
1.57%
14.99%
13.21%
1
1
7
7
Real Estate and Rental and Leasing
1.19%
0.86%
7.36%
6.45%
10
10
16
16
Professional and Technical Services
2.09%
3.20%
8.12%
4.76%
5
5
4
5
Management of Companies and Enterprises
6.70%
1.84%
8.46%
6.50%
2
2
18
19
Administrative and Waste Services
3.46%
1.33%
6.25%
4.85%
19
19
8
8
12
Educational Services
3.49%
2.02%
6.39%
4.28%
16
15
12
Health Care and Social Assistance
1.78%
1.69%
5.26%
3.51%
18
17
1
1
Arts, Entertainment, and Recreation
2.97%
1.94%
6.25%
4.23%
14
14
17
17
Accommodation and Food Services
2.03%
1.94%
6.43%
4.40%
23
23
5
6
Other Services
1.31%
0.97%
5.11%
4.10%
20
20
11
11
Federal Government
5.53%
-1.57%
2.25%
3.88%
7
7
19
18
State Government
1.34%
-0.22%
0.87%
1.10%
12
12
14
14
Local Government
Unclassified
0.52%
0.44%
3.81%
3.36%
13
13
2
2
-3.45%
-5.53%
1.62%
7.58%
15
18
21
20
Total, All Industries
1.32%
0.97%
6.84%
5.81%
NM
NM
NM
NM
Total, All Private
1.31%
1.15%
7.51%
6.29%
NM
NM
NM
NM
Total, All Government
1.86%
0.15%
3.14%
-18.42%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
63
New York State
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
2003
2004
2005
2006
Growth
2007
21,285
22,048
21,928
21,595
21,871
Mining
4,380
4,715
4,925
5,235
5,435
0.34%
5.51%
Utilities
40,928
39,250
39,175
38,812
38,520
-1.32%
Construction
316,553
320,282
323,456
335,711
352,062
2.63%
Manufacturing
610,059
593,521
578,759
564,916
551,860
-2.47%
Wholesale Trade
350,441
352,745
351,967
351,963
355,566
0.27%
Retail Trade
852,040
863,990
875,115
878,330
892,973
1.11%
Transportation and Warehousing
214,948
217,684
220,477
225,218
228,801
1.60%
Information
275,284
268,204
268,215
266,887
263,568
-0.91%
Finance and Insurance
513,759
516,342
526,099
538,238
544,076
1.57%
Real Estate and Rental and Leasing
178,479
181,353
183,281
183,539
185,171
0.86%
Professional and Technical Services
505,888
514,688
529,510
549,937
572,956
3.20%
Management of Companies and Enterprises
120,332
119,376
121,981
126,539
128,023
1.84%
Administrative and Waste Services
410,584
418,485
425,836
425,282
435,169
1.33%
Educational Services
257,284
263,747
268,493
274,226
278,836
2.02%
1,133,299
1,152,100
1,168,218
1,188,650
1,213,311
1.69%
Arts, Entertainment, and Recreation
Health Care and Social Assistance
125,315
130,926
130,268
132,752
136,974
1.94%
Accommodation and Food Services
517,438
529,143
536,488
542,461
562,605
1.94%
Other Services
310,715
311,413
314,878
316,413
323,433
0.97%
Federal Government
135,204
130,197
128,758
126,676
126,660
-1.57%
State Government
236,576
235,055
233,537
233,057
234,939
-0.22%
Local Government
1,049,663
1,053,335
1,058,708
1,059,211
1,070,004
0.44%
42,118
36,752
37,156
44,480
28,800
-5.53%
Unclassified
Total, All Industries
8,222,570
8,275,351
8,347,226
8,430,125
8,551,614
0.97%
Total, All Private
6,801,127
6,856,764
6,926,223
7,011,181
7,120,011
1.15%
Total, All Government
1,421,443
1,418,587
1,421,003
1,418,944
1,431,603
0.15%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
64
New York State
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Mining
Utilities
Construction
2003
2004
2005
2006
2007
Growth
2,225
2,205
2,204
2,227
2,298
0.75%
355
360
363
366
373
1.16%
374
378
381
370
426
2.42%
43,221
44,262
45,138
47,414
48,858
3.19%
Manufacturing
20,530
20,064
19,666
19,348
19,807
-1.07%
Wholesale Trade
37,760
37,487
37,361
37,151
38,240
0.16%
Retail Trade
71,231
71,670
71,668
71,241
73,011
0.43%
Transportation and Warehousing
11,182
11,188
11,189
11,196
11,630
0.80%
Information
10,944
10,715
10,492
10,635
11,116
0.24%
Finance and Insurance
27,074
27,509
28,535
28,809
29,802
2.41%
Real Estate and Rental and Leasing
32,399
32,649
32,972
33,116
34,128
1.19%
Professional and Technical Services
56,760
56,718
57,752
58,852
61,799
2.09%
6.70%
Management of Companies and Enterprises
2,500
2,709
2,923
3,063
3,251
23,295
23,896
24,440
24,878
27,063
3.46%
5,951
6,213
6,436
6,555
6,879
3.49%
Health Care and Social Assistance
47,136
48,580
49,080
49,483
51,022
1.78%
Arts, Entertainment, and Recreation
9,549
9,949
10,167
10,379
10,820
2.97%
Accommodation and Food Services
36,599
37,780
38,276
38,725
39,980
2.03%
Other Services
59,830
60,718
61,426
61,694
63,347
1.31%
5.53%
Administrative and Waste Services
Educational Services
2,145
2,147
2,113
2,125
2,822
State Government
Federal Government
877
877
887
912
919
1.34%
Local Government
6,244
6,264
6,326
6,344
6,368
0.52%
-3.45%
Unclassified
31,615
31,525
34,416
35,278
25,077
Total, All Industries
539,793
545,861
554,209
560,158
569,035
1.32%
Total, All Private
530,527
536,573
544,883
550,777
558,926
1.31%
9,266
9,288
9,326
9,381
10,109
1.86%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
65
New York State
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
Growth
2007
Agriculture, Forestry, Fishing & Hunting
$23,199
$24,123
$24,642
$26,057
$27,179
Mining
$46,903
$47,488
$48,851
$50,662
$54,401
4.02%
3.68%
Utilities
$78,970
$82,721
$83,248
$87,661
$92,642
3.85%
Construction
$48,761
$49,184
$50,444
$52,891
$55,882
3.51%
Manufacturing
$48,387
$50,255
$51,961
$53,758
$55,999
3.66%
Wholesale Trade
$57,812
$60,369
$62,387
$65,498
$69,190
4.51%
Retail Trade
$25,690
$26,505
$27,245
$28,183
$29,197
3.22%
T
Transportation
i and
dW
Warehousing
h
i
$37,306
$37 306
$38,273
$38 273
$39,037
$39 037
$40,397
$40 397
$42,338
$42 338
3.12%
3 12%
Information
$70,355
$73,565
$76,200
$81,135
$86,360
5.21%
$124,595
$143,445
$153,068
$177,724
$208,174
13.21%
6.45%
Finance and Insurance
Real Estate and Rental and Leasing
$42,962
$45,758
$48,033
$51,056
$55,584
Professional and Technical Services
$70,252
$73,689
$77,165
$80,424
$84,859
4.76%
$107,646
$115,683
$120,185
$126,375
$141,103
6.50%
Management of Companies and Enterprises
Administrative and Waste Services
$32,414
$33,885
$35,428
$36,700
$39,467
4.85%
Educational Services
$36,833
$38,350
$39,822
$41,596
$43,617
4.28%
Health Care and Social Assistance
$35,985
$37,449
$38,526
$39,976
$41,382
3.51%
Arts, Entertainment, and Recreation
$38,297
$39,177
$39,705
$43,915
$44,506
4.23%
Accommodation and Food Services
$17,788
$18,506
$19,150
$20,251
$21,093
4.40%
Other Services
$27,090
$27,980
$29,178
$30,548
$31,694
4.10%
Federal Government
$51,343
$55,295
$56,118
$58,774
$60,230
3.88%
State Government
$46,915
$47,900
$48,538
$48,541
$49,217
1.10%
Local Government
$42,532
$44,277
$45,444
$47,235
$48,572
3.36%
Unclassified
$32,754
$34,368
$36,139
$38,732
$44,455
7.58%
Total, All Industries
$47,266
$49,953
$51,941
$55,478
$59,474
5.81%
Total, All Private
$47,927
$50,794
$52,971
$56,895
$61,438
6.29%
$140,790
$147,472
$150,100
$154,550
$49,709
-18.42%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
66
Hudson Valley Summary
Growth in the Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Agriculture, Forestry, Fishing & Hunting
-1.39%
2.12%
1.60%
0.72%
0.03%
-2.64%
-3.58%
-1.96%
0.74%
Mining
-2.21%
4.09%
NA
-6.89%
NA
NA
0.93%
-3.35%
NA
Utilities
NA
NA
NA
NA
NA
NA
NA
NA
NA
8.70%
5.14%
6.80%
4.89%
4.95%
4.04%
4.15%
5.67%
2.71%
-0.79%
1.28%
-3.17%
1.33%
-0.12%
-0.11%
-1.95%
-1.21%
-0.85%
1.66%
1.23%
5.08%
3.50%
1.36%
-0.77%
-0.13%
-0.84%
-0.50%
Retail Trade
-0.51%
0.83%
-0.37%
1.42%
0.07%
-0.13%
1.71%
0.14%
-0.16%
Transportation and Warehousing
-3.17%
6.24%
11.25%
3.11%
1.03%
-0.78%
-1.65%
1.51%
1.69%
1.09%
1.64%
-5.33%
2.03%
-1.30%
-1.57%
1.45%
1.93%
-1.67%
Finance and Insurance
-2.21%
0.00%
3.26%
0.23%
1.19%
2.16%
2.35%
0.92%
2.56%
Real Estate and Rental and Leasing
-0.52%
3.86%
6.53%
3.89%
1.44%
4.43%
0.90%
3.08%
2.65%
Professional and Technical Services
5.38%
2.07%
0.23%
3.66%
2.54%
1.50%
2.55%
1.45%
1.10%
NA
8.28%
N/A
11.81%
NA
4.94%
18.28%
1.70%
7.02%
Construction
Manufacturing
Wholesale Trade
Information
Management of Companies and Enterprises
Administrative and Waste Services
3.64%
4.92%
5.83%
6.17%
5.45%
4.05%
4.36%
3.61%
2.94%
Educational Services
3.55%
4.08%
7.71%
3.54%
5.17%
4.83%
-1.98%
4.11%
2.93%
Health Care and Social Assistance
4.08%
1.65%
1.10%
2.51%
2.30%
1.84%
1.42%
2.02%
NA
Arts, Entertainment, and Recreation
-2.08%
4.43%
-2.44%
3.01%
-1.86%
1.82%
2.28%
4.78%
2.61%
Accommodation and Food Services
1.31%
4.67%
-0.27%
1.83%
2.54%
2.96%
-0.19%
1.30%
1.88%
Other Services
1.83%
2.49%
-2.02%
3.09%
1.48%
1.93%
-1.16%
1.40%
0.75%
Federal Government
7.17%
1.68%
4.96%
0.30%
-3.58%
-1.68%
10.23%
7.75%
3.21%
State Government
0.00%
0.00%
0.00%
0.74%
0.00%
0.00%
0.00%
0.00%
3.40%
Local Government
1.18%
2.17%
0.40%
2.08%
1.12%
-0.07%
-0.15%
0.10%
-0.09%
-1.53%
-1.43%
5.87%
-0.77%
-1.68%
0.83%
-4.83%
1.03%
-2.22%
1.22%
Unclassified
Total, All Industries
2.36%
2.63%
1.91%
2.72%
2.16%
1.76%
1.25%
1.84%
Total, All Private
2.31%
2.65%
1.91%
2.76%
2.20%
1.80%
1.10%
1.81%
1.23%
Total, All Government
3.26%
1.88%
1.85%
1.46%
0.00%
-0.37%
3.78%
2.61%
0.83%
Data Source: NYS Department of Labor QCEW Series
Compiled By: Marist College Bureau of Economic Research
6/26/2009
67
Hudson Valley Summary
Growth in Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Agriculture, Forestry, Fishing & Hunting
-0.20%
3.00%
-0.08%
0.08%
0.17%
4.14%
1.96%
6.47%
1.59%
Mining
-0.87%
3.05%
NA
-9.83%
NA
NA
9.64%
3.48%
NA
Utilities
NA
NA
NA
NA
NA
NA
NA
NA
NA
4.00%
2.84%
8.81%
3.09%
6.22%
4.52%
5.61%
3.11%
3.02%
Manufacturing
-3.82%
-3.55%
4.52%
-2.41%
5.42%
0.24%
8.45%
-4.62%
-2.27%
Wholesale Trade
-3.56%
1.22%
1.85%
0.27%
9.51%
0.62%
-0.35%
-1.35%
-0.32%
Retail Trade
-0.04%
-0.08%
3.95%
2.09%
1.93%
-0.40%
-1.25%
1.28%
1.40%
0.37%
4.65%
-0.66%
3.00%
4.51%
-3.22%
-1.56%
-0.01%
2.59%
Construction
Transportation and Warehousing
Information
-5.32%
0.49%
-1.75%
1.31%
-0.72%
-3.46%
-0.53%
-21.86%
-2.87%
Finance and Insurance
-4.79%
0.75%
3.86%
-2.02%
-5.65%
2.70%
-1.86%
2.23%
4.19%
Real Estate and Rental and Leasing
-0.62%
-3.25%
3.94%
3.59%
-4.03%
-0.65%
0.14%
5.40%
1.04%
Professional and Technical Services
5.75%
2.78%
-18.29%
2.69%
1.52%
2.23%
2.03%
-1.75%
-0.01%
NA
19.98%
N/A
-4.87%
NA
4.61%
5.71%
29.09%
5.39%
2.26%
-0.81%
0.17%
2.81%
8.64%
5.27%
11.97%
13.35%
-1.06%
2.36%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
1.75%
3.49%
-9.06%
2.17%
3.23%
-0.32%
-1.76%
3.01%
Health Care and Social Assistance
0.78%
1.25%
4.29%
2.59%
4.42%
1.30%
1.79%
0.58%
NA
Arts, Entertainment, and Recreation
1.77%
5.23%
-2.02%
0.34%
-0.42%
0.33%
13.84%
6.89%
-2.26%
Accommodation and Food Services
5.06%
1.83%
1.24%
-0.21%
5.03%
1.27%
-5.56%
-0.37%
1.16%
Other Services
1.54%
1.12%
2.70%
2.40%
1.22%
0.68%
-3.06%
-0.38%
2.04%
Federal Government
0.66%
-5.64%
-2.11%
0.33%
-2.98%
-1.94%
0.25%
-1.32%
-2.34%
-3.65%
-0.62%
2.13%
-4.70%
-0.76%
5.06%
1.32%
-1.75%
1.11%
State Government
Local Government
Unclassified
Total, All Industries
Total, All Private
Total, All Government
0.41%
0.62%
0.78%
1.18%
0.87%
1.13%
0.39%
0.61%
0.20%
-6.39%
-5.69%
-4.10%
-3.22%
0.47%
1.47%
-6.84%
-7.24%
-4.03%
0.14%
0.49%
1.55%
1.14%
2.73%
1.14%
0.59%
0.17%
0.93%
0.25%
0.65%
1.71%
1.34%
3.21%
0.95%
0.61%
0.27%
1.09%
-0.23%
-0.18%
1.16%
0.41%
0.68%
2.00%
0.00%
-0.16%
0.08%
Data Source: NYS Department of Labor QCEW Series
Compiled By: Marist College Bureau of Economic Research
6/26/2009
68
Hudson Valley Summary
Growth in Average Compensation by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Agriculture, Forestry, Fishing & Hunting
1.29%
6.95%
9.48%
2.29%
4.26%
5.28%
7.89%
4.41%
Mining
9.34%
0.96%
NA
8.21%
NA
NA
1.95%
3.30%
NA
Utilities
NA
NA
NA
NA
NA
NA
NA
NA
NA
Construction
1.56%
4.56%
2.76%
2.07%
4.30%
1.78%
3.64%
2.57%
2.87%
Manufacturing
3.15%
4.34%
5.49%
2.45%
2.14%
2.52%
1.77%
5.14%
3.89%
Wholesale Trade
1.57%
5.02%
4.68%
4.07%
2.96%
3.94%
4.42%
2.96%
3.68%
Retail Trade
2.90%
2.50%
1.66%
1.77%
2.72%
1.34%
3.02%
2.65%
1.70%
Transportation and Warehousing
1.84%
-2.99%
3.83%
2.44%
2.95%
6.04%
0.39%
2.66%
10.31%
Information
1.47%
2.75%
1.36%
1.61%
4.21%
7.46%
-4.59%
18.25%
3.02%
-2.39%
3.63%
6.53%
5.52%
5.15%
4.56%
6.64%
3.65%
9.52%
Real Estate and Rental and Leasing
2.45%
2.83%
-1.54%
2.23%
7.19%
-0.42%
2.81%
6.10%
5.07%
Professional and Technical Services
2.97%
2.62%
-8.37%
2.87%
4.21%
2.71%
1.36%
3.90%
5.00%
NA
3.14%
NA
4.02%
NA
10.14%
2.56%
8.62%
10.92%
Finance and Insurance
Management of Companies and Enterprises
2.75%
Administrative and Waste Services
8.05%
4.37%
10.93%
4.46%
2.93%
3.74%
1.57%
6.96%
5.90%
Educational Services
5.95%
2.40%
9.57%
4.81%
9.52%
6.30%
1.09%
1.06%
2.52%
Health Care and Social Assistance
5.09%
5.85%
2.67%
4.48%
4.07%
4.89%
1.92%
3.61%
NA
Arts, Entertainment, and Recreation
3.52%
-0.33%
1.77%
0.57%
0.91%
2.99%
11.40%
2.97%
5.31%
Accommodation and Food Services
4.25%
2.71%
3.29%
4.62%
-0.87%
3.54%
4.57%
4.12%
4.22%
Other Services
6.14%
3.94%
4.59%
2.79%
4.55%
3.54%
3.81%
5.09%
3.97%
Federal Government
3.24%
6.23%
5.12%
4.42%
4.44%
3.73%
3.84%
4.50%
3.26%
State Government
1.96%
0.44%
-2.19%
-0.40%
0.93%
3.21%
-10.25%
7.08%
1.04%
Local Government
Unclassified
5.95%
8.91%
4.39%
6.02%
4.86%
4.37%
3.54%
10.25%
5.60%
10.42%
5.49%
0.77%
2.58%
0.46%
3.75%
6.41%
11.22%
4.61%
Total, All Industries
2.95%
3.51%
1.80%
3.40%
3.54%
3.75%
2.16%
5.62%
5.30%
Total, All Private
2.51%
3.06%
2.25%
3.04%
3.35%
3.67%
3.57%
4.37%
5.36%
Total, All Government
4.33%
5.40%
1.31%
4.56%
4.73%
4.01%
0.11%
8.83%
4.97%
Data Source: NYS Department of Labor QCEW Series
Compiled By: Marist College Bureau of Economic Research
6/26/2009
69
Hudson Valley Summary
Growth in Total Compensation by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Columbia
Dutchess
Agriculture, Forestry, Fishing & Hunting
1.09%
10.16%
Mining
8.39%
Utilities
NA
5.62%
Construction
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
9.38%
2.38%
4.43%
9.64%
10.00%
11.16%
4.39%
4.04%
NA
-2.42%
NA
NA
11.78%
6.89%
NA
NA
NA
NA
NA
NA
NA
NA
NA
7.53%
11.82%
5.23%
10.79%
6.38%
9.46%
5.76%
5.98%
Manufacturing
-0.79%
0.63%
10.26%
-0.01%
7.67%
2.76%
10.36%
0.29%
1.53%
Wholesale Trade
-2.05%
6.30%
6.62%
4.35%
12.76%
4.59%
4.05%
1.57%
3.35%
2.86%
2.42%
5.67%
3.90%
4.71%
0.94%
1.73%
3.97%
3.13%
13.17%
Retail Trade
Transportation and Warehousing
2.22%
1.53%
3.14%
5.52%
7.59%
2.62%
-1.18%
2.65%
Information
-3.93%
3.26%
-0.42%
2.95%
3.46%
3.74%
-5.10%
-7.60%
0.07%
Finance and Insurance
-7.07%
4.41%
10.64%
3.39%
-0.79%
7.38%
4.65%
5.96%
14.11%
Real Estate and Rental and Leasing
1.82%
-0.51%
2.33%
5.90%
2.87%
-1.07%
2.95%
11.83%
6.16%
Professional and Technical Services
8.89%
5.48%
-25.13%
5.63%
5.80%
5.00%
3.42%
2.08%
4.99%
NA
23.75%
NA
-1.05%
NA
15.22%
8.41%
40.21%
16.89%
10.49%
3.53%
11.12%
7.40%
11.83%
9.20%
13.73%
21.24%
4.77%
4.94%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
7.81%
5.97%
-0.36%
7.08%
13.05%
5.97%
-0.69%
4.11%
Health Care and Social Assistance
5.90%
7.18%
7.07%
7.18%
8.67%
6.25%
3.75%
4.22%
NA
Arts, Entertainment, and Recreation
5.35%
4.89%
-0.29%
0.91%
0.48%
3.32%
26.81%
10.07%
2.93%
Accommodation and Food Services
9.53%
4.59%
4.58%
4.40%
4.12%
4.85%
-1.24%
3.74%
5.43%
Other Services
7.77%
5.10%
7.41%
5.25%
5.83%
4.25%
0.63%
4.69%
6.09%
Federal Government
3.92%
0.23%
2.90%
4.76%
1.33%
1.72%
4.10%
3.12%
0.84%
State Government
-1.76%
-0.19%
-0.11%
-5.08%
0.16%
8.43%
-9.07%
5.20%
2.16%
Local Government
6.38%
9.59%
5.20%
7.27%
5.77%
5.55%
3.95%
10.93%
5.81%
Unclassified
3.37%
-0.52%
-3.36%
-0.72%
0.93%
5.27%
-0.87%
3.17%
0.39%
Total, All Industries
3.09%
4.02%
3.37%
4.58%
6.37%
4.94%
2.77%
5.80%
6.28%
Total, All Private
2.77%
3.73%
4.00%
4.43%
6.67%
4.65%
4.20%
4.65%
6.51%
Total, All Government
4.09%
5.21%
2.48%
4.99%
5.44%
6.09%
0.12%
8.66%
5.06%
Data Source: NYS Department of Labor QCEW Series
Compiled By: Marist College Bureau of Economic Research
6/26/2009
70
Columbia County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
63,356
63,217
63,058
62,813
62,859
62,802
62,962
62,880
62,469
62,225
-0.15%
Per capita personal income (dollars)
$25,514
$26,573
$28,587
$28,449
$27,920
$28,770
$31,333
$32,426
$33,981
$35,661
3.51%
Wage and salary disbursements ($000)
$526,010
$550,731
$610,330
$626,916
$629,871
$640,680
$707,917
$697,425
$720,400
$740,877
3.71%
Plus: Supplements to wages and salaries
$103,799
$107,052
$120,305
$126,949
$136,398
$148,336
$168,774
$176,406
$180,370
$185,221
7.36%
Employer contributions for employee pension and insurance
funds
$59,053
$61,497
$69,925
$74,460
$83,122
$93,812
$108,881
$117,356
$119,449
$123,290
9.60%
Employer contributions for government social insurance
$44,746
$45,555
$50,380
$52,489
$53,276
$54,524
$59,893
$59,050
$60,921
$61,931
3.81%
$163,397
$183,975
$181,164
$117,311
$100,249
$113,943
$123,120
$139,320
$144,616
$146,333
-2.23%
$9,779
$15,145
$11,145
$12,935
($1,331)
$6,650
$3,020
$2,523
$89
$3,652
NM
$153,618
$168,830
$170,019
$104,376
$101,580
$107,293
$120,100
$136,797
$144,527
$142,681
-1.42%
Equals: Earnings by place of work ($000)
$793,206
$841,758
$911,799
$871,176
$866,518
$902,959
$999,811
$1,013,151
$1,045,386
$1,072,431
3.21%
Less: Contributions for government social insurance
Population (persons)
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
$88,729
$91,944
$100,041
$102,448
$104,434
$107,204
$118,123
$118,854
$123,297
$126,427
4.05%
Employee and self-employed contributions for government social
insurance
$43,983
$46,389
$49,661
$49,959
$51,158
$52,680
$58,230
$59,804
$62,376
$64,496
4.29%
Employer contributions for government social insurance
$44,746
$45,555
$50,380
$52,489
$53,276
$54,524
$59,893
$59,050
$60,921
$61,931
3.81%
Plus: Adjustment for residence
$278,802
$296,135
$315,744
$321,952
$325,811
$337,180
$341,768
$368,817
$394,438
$415,409
4.07%
Equals: Net earnings by place of residence ($000)
$983,279
$1,045,949
$1,127,502
$1,090,680
$1,087,895
$1,132,935
$1,223,456
$1,263,114
$1,316,527
$1,361,413
3.38%
Plus: Dividends, interest, and rent
$354,767
$346,983
$374,417
$377,420
$323,496
$315,566
$370,031
$389,476
$393,926
$422,236
1.57%
Plus: Personal current transfer receipts
$278,450
$286,941
$300,723
$318,858
$343,625
$358,313
$379,305
$386,375
$412,311
$435,328
5.21%
$1,616,496
$1,679,873
$1,802,642
$1,786,958
$1,755,016
$1,806,814
$1,972,792
$2,038,965
$2,122,764
$2,218,977
3.35%
Equals: Personal income ($000)
Source:Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Compiled by Bureau of Economic Research, Marist College 6/22/2009
71
Columbia County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Growth in the Number of
Firms (within industry)
Average Employment
Growth (within Industry)
Growth in Total
Compensation (within
Industry)
Growth in Average
Compensation per job
(within Industry)
Average Wages by
Industry (2007) Ranked
from Highest (1) to
Lowest (22)
Average Wages by
Industry (2006) Ranked
from Highest (1) to
Lowest (22)
Level Change in Avg.
Employ. by Industry
(2006-2002) Ranked
from Highest (1) to
Lowest (22)
Level Change in Avg.
Employ. by Industry
(2007-2003) Ranked
from Highest (1) to
Lowest (22)
Agriculture, Forestry, Fishing & Hunting
-1.39%
-0.20%
1.09%
1.29%
15
14
7
6
Mining
-2.21%
-0.87%
8.39%
9.34%
3
2
22
22
7
Construction
8.70%
4.00%
5.62%
1.56%
12
10
6
-0.79%
-3.82%
-0.79%
3.15%
7
8
4
4
1.66%
-3.56%
-2.05%
1.57%
9
9
12
13
Retail Trade
-0.51%
-0.04%
2.86%
2.90%
18
16
3
3
Transportation and Warehousing
-3.17%
3 17%
0.37%
0 37%
2.22%
2 22%
1.84%
1 84%
10
11
13
11
1.09%
-5.32%
-3.93%
1.47%
6
6
15
15
Manufacturing
Wholesale Trade
Information
Finance and Insurance
-2.21%
-4.79%
-7.07%
-2.39%
8
7
14
14
Real Estate and Rental and Leasing
-0.52%
-0.62%
1.82%
2.45%
20
17
20
20
Professional and Technical Services
5.38%
5.75%
8.89%
2.97%
5
3
8
8
NA
NA
NA
NA
2
5
18
18
Administrative and Waste Services
3.64%
2.26%
10.49%
8.05%
14
13
11
12
16
Management of Companies and Enterprises
Educational Services
3.55%
1.75%
7.81%
5.95%
19
19
17
Health Care and Social Assistance
4.08%
0.78%
5.90%
5.09%
11
12
2
2
Arts, Entertainment, and Recreation
-2.08%
1.77%
5.35%
3.52%
17
18
16
17
Accommodation and Food Services
1.31%
5.06%
9.53%
4.25%
22
22
5
5
Other Services
1.83%
1.54%
7.77%
6.14%
21
20
10
10
Federal Government
7.17%
0.66%
3.92%
3.24%
4
4
19
19
State Government
0.00%
-3.65%
-1.76%
1.96%
1
1
9
9
Local Government
1.18%
0.41%
6.38%
5.95%
13
15
1
1
Unclassified
-1.53%
-6.39%
3.37%
10.42%
16
21
21
21
Total, All Government
2.36%
0.14%
3.09%
2.95%
NM
NM
NM
NM
Total, All Industries
2.31%
0.25%
2.77%
2.51%
NM
NM
NM
NM
Total, All Private
3.26%
-0.23%
4.09%
4.33%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
72
Columbia County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Mining
Construction
Manufacturing
Wholesale Trade
2003
2004
2005
2006
2007
Growth
66
66
68
65
62
-1.39%
4
5
5
4
4
-2.21%
210
233
239
272
295
8.70%
78
76
78
78
74
-0.79%
65
62
63
63
70
1.66%
257
253
240
248
253
-0.51%
Transportation and Warehousing
39
40
36
36
35
-3.17%
I f
Information
ti
45
48
49
47
48
1 09%
1.09%
Finance and Insurance
70
69
65
64
65
-2.21%
Retail Trade
Real Estate and Rental and Leasing
58
59
57
58
57
-0.52%
Professional and Technical Services
153
161
177
184
186
5.38%
0
9
9
10
12
NA
78
80
79
84
91
3.64%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
21
23
24
23
25
3.55%
149
159
169
172
175
4.08%
-2.08%
Arts, Entertainment, and Recreation
53
56
50
51
50
Accommodation and Food Services
142
144
148
153
147
1.31%
Other Services
155
152
150
157
167
1.83%
7.17%
Federal Government
29
29
29
29
41
State Government
8
8
8
8
8
0.00%
Local Government
50
50
52
52
52
1.18%
Unclassified
57
69
89
80
49
-1.53%
Total, All Industries
1,792
1,851
1,882
1,938
1,968
2.36%
Total, All Private
1,705
1,764
1,793
1,849
1,867
2.31%
87
87
89
89
101
3.26%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
73
Columbia County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Mining
Construction
Manufacturing
Wholesale Trade
2003
2004
2005
2006
Growth
2007
939
1,001
1,060
1,036
914
-0.20%
36
36
38
37
34
-0.87%
843
896
873
933
1,005
4.00%
2,060
2,134
2,056
1,929
1,783
-3.82%
575
551
492
480
514
-3.56%
2,714
2,815
2,715
2,814
2,709
-0.04%
Transportation and Warehousing
468
552
535
529
487
0.37%
Information
373
388
340
321
312
-5.32%
Retail Trade
Finance and Insurance
452
426
391
373
378
-4.79%
Real Estate and Rental and Leasing
175
183
172
176
173
-0.62%
Professional and Technical Services
632
651
695
740
784
5.75%
0
305
206
211
255
NA
493
487
482
500
544
2.26%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
264
293
295
312
279
1.75%
3,638
3,710
3,809
3,778
3,747
0.78%
Arts, Entertainment, and Recreation
265
287
283
300
283
1.77%
Accommodation and Food Services
Health Care and Social Assistance
1,242
1,249
1,343
1,473
1,464
5.06%
Other Services
600
637
680
644
644
1.54%
Federal Government
180
177
172
177
186
0.66%
State Government
794
795
804
697
704
-3.65%
Local Government
3,797
3,813
3,751
3,791
3,886
0.41%
Unclassified
69
74
70
79
48
-6.39%
Total, All Industries
20,944
21,490
21,292
21,362
21,156
0.14%
Total, All Private
16,173
16,705
16,565
16,697
16,380
0.25%
4,771
4,785
4,727
4,665
4,776
-0.23%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
74
Columbia County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
Growth
2007
Agriculture, Forestry, Fishing & Hunting
$29,437
$28,700
$29,844
$31,342
$30,035
1.29%
Mining
$39,331
$40,805
$44,110
$55,462
$52,710
9.34%
Construction
$32,975
$32,342
$31,303
$33,878
$34,810
1.56%
Manufacturing
$36,445
$37,798
$38,343
$40,466
$41,140
3.15%
Wholesale Trade
$33,835
$35,131
$38,753
$35,316
$36,473
1.57%
Retail Trade
$24,639
$25,132
$26,401
$27,241
$27,306
2.90%
p
g
Transportation
and Warehousing
,
$32,054
,
$34,642
,
$33,011
,
$33,157
,
$35,894
1.84%
Information
$39,264
$40,868
$42,811
$42,771
$41,288
1.47%
Finance and Insurance
$47,172
$38,230
$40,214
$42,169
$39,789
-2.39%
Real Estate and Rental and Leasing
$23,449
$24,248
$25,978
$26,727
$25,207
2.45%
Professional and Technical Services
$39,028
$41,651
$42,039
$45,382
$43,285
2.97%
$0
$114,555
$41,163
$43,419
$56,551
NA
$23,456
$26,576
$28,359
$31,610
$31,670
8.05%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
$20,105
$21,919
$23,495
$23,052
$26,179
5.95%
Health Care and Social Assistance
$28,376
$30,499
$32,006
$33,083
$34,920
5.09%
Arts, Entertainment, and Recreation
$24,039
$23,793
$24,341
$25,466
$27,623
3.52%
Accommodation and Food Services
$11,137
$11,675
$11,591
$12,325
$13,349
4.25%
Other Services
$19,351
$19,790
$19,336
$22,910
$24,229
6.14%
Federal Government
$38,580
$41,608
$40,552
$43,749
$44,134
3.24%
State Government
$53,118
$56,802
$60,309
$58,239
$57,817
1.96%
Local Government
$26,008
$27,153
$28,400
$29,423
$33,354
5.95%
Unclassified
$18,482
$18,232
$19,765
$21,189
$28,144
10.42%
Total, All Industries
$29,273
$31,371
$31,192
$32,054
$33,486
2.95%
Total, All Private
$28,766
$31,015
$30,313
$31,434
$32,351
2.51%
Total, All Government
$30,994
$32,613
$34,270
$34,272
$37,380
4.33%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
75
Dutchess County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
273,784
277,586
280,967
284,332
286,828
289,200
290,812
291,835
291,897
292,224
0.73%
Per capita personal income (dollars)
$28,284
$29,517
$31,526
$32,632
$32,062
$32,960
$34,732
$36,947
$39,312
$41,667
4.02%
Wage and salary disbursements ($000)
$3,651,722
$3,975,651
$4,219,732
$4,588,418
$4,566,224
$4,704,394
$4,878,989
$5,119,779
$5,323,685
$5,464,903
4.24%
Plus: Supplements to wages and salaries
$720,538
$764,538
$823,685
$904,646
$989,531
$1,069,572
$1,116,588
$1,237,454
$1,304,366
$1,319,875
7.50%
Employer contributions for employee pension and insurance
funds
$409,697
$441,105
$477,110
$534,360
$613,703
$675,412
$705,968
$812,940
$862,557
$878,992
9.62%
Employer contributions for government social insurance
$310,841
$323,433
$346,575
$370,286
$375,828
$394,160
$410,620
$424,514
$441,809
$440,883
4.14%
$394,232
$505,600
$500,261
$453,014
$426,720
$426,876
$436,538
$466,465
$485,016
$479,709
0.62%
$448
$3,058
$3,788
$2,761
($4,447)
($443)
($1,865)
$29
($1,990)
$907
NM
$393,784
$502,542
$496,473
$450,253
$431,167
$427,319
$438,403
$466,436
$487,006
$478,802
0.69%
$4,766,492
$5,245,789
$5,543,678
$5,946,078
$5,982,475
$6,200,842
$6,432,115
$6,823,698
$7,113,067
$7,264,487
4.48%
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
Equals: Earnings by place of work ($000)
Less: Contributions for government social insurance
$579,092
$616,613
$649,790
$701,036
$714,418
$744,136
$773,461
$807,782
$839,165
$844,979
4.32%
Employee and self-employed contributions for government social
insurance
$268,251
$293,180
$303,215
$330,750
$338,590
$349,976
$362,841
$383,268
$397,356
$404,096
4.52%
Employer contributions for government social insurance
$310,841
$323,433
$346,575
$370,286
$375,828
$394,160
$410,620
$424,514
$441,809
$440,883
4.14%
Plus: Adjustment for residence
$1,108,558
$1,092,307
$1,314,028
$1,294,990
$1,338,520
$1,370,111
$1,543,245
$1,595,267
$1,747,366
$2,084,738
6.57%
Equals: Net earnings by place of residence ($000)
$5,295,958
$5,721,483
$6,207,916
$6,540,032
$6,606,577
$6,826,817
$7,201,899
$7,611,183
$8,021,268
$8,504,246
4.95%
Plus: Dividends, interest, and rent
$1,416,229
$1,408,703
$1,517,930
$1,524,001
$1,268,504
$1,325,762
$1,422,686
$1,662,475
$1,849,318
$1,973,842
3.19%
Plus: Personal current transfer receipts
$1,031,573
$1,063,211
$1,131,794
$1,214,249
$1,321,321
$1,379,479
$1,475,764
$1,508,804
$1,604,344
$1,697,932
5.88%
Equals: Personal income ($000)
$7,743,760
$8,193,397
$8,857,640
$9,278,282
$9,196,402
$9,532,058
$10,100,349
$10,782,462
$11,474,930
$12,176,020
4.78%
Source: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Complied by Bureau of Economic Research, Marist College 6/22/2009
76
Dutchess County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Growth in the Number of Average Employment
Firms (within industry) Growth (within Industry)
Growth inTotal
Compensation (within
Industry)
Growth in Average
Compensation per job
(within Industry)
Average Wages by
Average Wages by
Industry (2007) Ranked Industry (2006) Ranked
from Highest (1) to
from Highest (1) to
Lowest (22)
Lowest (22)
Level Change in Avg.
Employ. by Industry
(2007-2003) Ranked
from Highest (1) to
Lowest (22)
Level Change in Avg.
Employ. by Industry
(2006-2002) Ranked
from Highest (1) to
Lowest (22)
Agriculture, Forestry, Fishing & Hunting
2.12%
3.00%
10.16%
6.95%
17
18
20
20
Mining
4.09%
3.05%
4.04%
0.96%
2
3
22
22
Utilities
NA
NA
NA
NA
NA
NA
NA
NA
Construction
5.14%
2.84%
7.53%
4.56%
9
9
8
8
Manufacturing
1.28%
-3.55%
0.63%
4.34%
1
1
3
2
Wholesale Trade
1.23%
1.22%
6.30%
5.02%
3
2
14
14
Retail Trade
0.83%
-0.08%
2.42%
2.50%
18
19
2
3
Transportation and Warehousing
6.24%
4.65%
1.53%
-2.99%
13
14
12
11
Information
1.64%
0.49%
3.26%
2.75%
11
11
16
16
Finance and Insurance
0.00%
0.75%
4.41%
3.63%
5
5
13
13
Real Estate and Rental and Leasing
3.86%
-3.25%
-0.51%
2.83%
16
16
17
17
Professional and Technical Services
2.07%
2.78%
5.48%
2.62%
7
8
10
10
Management of Companies and Enterprises
8.28%
19.98%
23.75%
3.14%
4
4
19
19
Administrative and Waste Services
4.92%
-0.81%
3.53%
4.37%
15
15
9
9
Educational Services
4.08%
3.49%
5.97%
2.40%
14
13
7
7
Health Care and Social Assistance
1.65%
1.25%
7.18%
5.85%
12
12
1
1
Arts, Entertainment, and Recreation
4.43%
5.23%
4.89%
-0.33%
21
21
15
15
Accommodation and Food Services
4.67%
1.83%
4.59%
2.71%
22
22
5
5
Other Services
2.49%
1.12%
5.10%
3.94%
19
20
11
12
Federal Government
1.68%
-5.64%
0.23%
6.23%
8
7
18
18
State Government
0.00%
-0.62%
-0.19%
0.44%
6
6
6
6
Local Government
Unclassified
2.17%
0.62%
9.59%
8.91%
10
10
4
4
-1.43%
-5.69%
-0.52%
5.49%
20
17
21
21
Total, All Industries
2.63%
0.49%
4.02%
3.51%
NM
NM
NM
NM
Total, All Private
2.65%
0.65%
3.73%
3.06%
NM
NM
NM
NM
Total, All Government
1.88%
-0.18%
5.21%
5.40%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
77
Dutchess County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
92
90
95
94
100
2.12%
Mining
14
14
15
16
16
4.09%
Utilities
0
12
13
0
0
NA
1,014
1,070
1,116
1,200
1,230
5.14%
Manufacturing
202
196
202
210
208
1.28%
Wholesale Trade
285
298
291
300
302
1.23%
Retail Trade
996
1,003
1,006
1,009
1,035
0.83%
Construction
T
Transportation
t ti and
d Warehousing
W h
i
114
122
125
140
144
6.24%
6 24%
Information
134
129
126
139
140
1.64%
Finance and Insurance
382
394
403
396
381
0.00%
Real Estate and Rental and Leasing
325
353
360
373
382
3.86%
Professional and Technical Services
705
709
713
735
767
2.07%
31
30
35
38
41
8.28%
364
392
411
428
443
4.92%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
96
104
106
110
114
4.08%
765
805
805
809
828
1.65%
Arts, Entertainment, and Recreation
125
130
137
143
148
4.43%
Accommodation and Food Services
557
588
615
651
665
4.67%
Other Services
689
704
727
738
761
2.49%
Federal Government
52
53
53
54
56
1.68%
State Government
22
22
21
22
22
0.00%
Local Government
173
180
188
189
188
2.17%
Unclassified
307
321
386
362
269
-1.43%
Total, All Industries
7,451
7,716
7,949
8,165
8,246
2.63%
Total, All Private
7,204
7,461
7,687
7,900
7,980
2.65%
247
255
262
265
266
1.88%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
78
Dutchess County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
521
529
542
564
585
3.00%
Mining
135
136
155
157
146
3.05%
Utilities
0
693
687
0
0
NA
5,605
5,555
5,973
6,138
6,133
2.84%
16,228
15,752
15,287
14,830
13,962
-3.55%
2,032
2,078
2,096
2,122
2,136
1.22%
13,973
14,411
14,335
14,055
14,094
-0.08%
Construction
Manufacturing
Wholesale Trade
Retail Trade
Transportation and Warehousing
2,809
3,041
3,329
3,496
3,289
4.65%
Information
1,903
1,961
1,911
1,982
1,940
0.49%
Finance and Insurance
2,993
2,937
3,005
3,100
3,024
0.75%
Real Estate and Rental and Leasing
1,763
1,607
1,534
1,564
1,515
-3.25%
Professional and Technical Services
3,584
3,552
3,837
3,876
3,936
2.78%
405
385
675
713
740
19.98%
5,121
5,310
5,148
5,183
4,977
-0.81%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
6,040
6,295
6,392
6,818
6,890
3.49%
16,026
16,670
16,719
16,796
16,991
1.25%
Arts, Entertainment, and Recreation
1,719
1,804
1,904
2,062
2,075
5.23%
Accommodation and Food Services
7,177
7,599
7,719
7,667
7,824
1.83%
Other Services
3,317
3,467
3,482
3,454
3,513
1.12%
Federal Government
1,577
1,288
1,229
1,206
1,219
-5.64%
State Government
7,065
6,920
6,925
6,826
6,894
-0.62%
Local Government
13,359
13,832
14,146
13,809
13,791
0.62%
392
351
379
394
276
-5.69%
114,361
116,171
117,408
117,468
116,570
0.49%
Total, All Private
92,360
94,131
95,108
95,627
94,666
0.65%
Total, All Government
22,001
22,040
22,300
21,841
21,904
-0.18%
Unclassified
Total, All Industries
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
79
Dutchess County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
$21,045
$22,258
$23,933
$26,047
$27,224
6.95%
Mining
$66,778
$60,447
$55,560
$56,292
$72,579
0.96%
Utilities
$0
$79,273
$77,150
$0
$0
NA
$40,228
$41,077
$42,964
$47,387
$46,810
4.56%
Construction
Manufacturing
$76,293
$79,129
$82,056
$84,945
$91,041
4.34%
Wholesale Trade
$50,741
$50,538
$54,693
$56,795
$61,161
5.02%
Retail Trade
$23,573
$24,363
$24,993
$25,459
$26,089
2.50%
T
Transportation
t ti and
d Warehousing
W h
i
$40 717
$40,717
$38 763
$38,763
$40 380
$40,380
$34 383
$34,383
$37 154
$37,154
-2.99%
2 99%
Information
$39,246
$41,125
$41,374
$42,822
$44,057
2.75%
Finance and Insurance
$47,305
$48,334
$49,778
$53,253
$53,870
3.63%
Real Estate and Rental and Leasing
$27,721
$31,053
$30,160
$30,104
$32,369
2.83%
2.62%
Professional and Technical Services
$46,476
$48,475
$52,450
$50,429
$51,851
Management of Companies and Enterprises
$51,589
$51,063
$53,993
$53,783
$58,678
3.14%
Administrative and Waste Services
$27,541
$28,507
$30,117
$31,535
$32,430
4.37%
Educational Services
$33,392
$33,893
$34,917
$35,081
$36,950
2.40%
Health Care and Social Assistance
$31,773
$32,665
$33,167
$37,417
$39,453
5.85%
Arts, Entertainment, and Recreation
$19,425
$20,294
$18,439
$18,941
$19,782
-0.33%
Accommodation and Food Services
$14,208
$14,215
$14,852
$15,386
$15,611
2.71%
Other Services
$22,217
$23,166
$24,501
$25,386
$25,747
3.94%
Federal Government
$39,689
$46,746
$47,825
$51,045
$51,378
6.23%
State Government
$50,106
$52,888
$54,221
$51,592
$51,860
0.44%
Local Government
$33,370
$35,309
$38,663
$43,427
$46,115
8.91%
Unclassified
$20,388
$25,486
$26,630
$28,759
$25,068
5.49%
Total, All Industries
$39,006
$39,990
$41,434
$43,067
$44,667
3.51%
Total, All Private
$38,961
$39,637
$40,832
$42,306
$43,846
3.06%
Total, All Government
$39,197
$41,497
$43,999
$46,399
$48,216
5.40%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
80
Greene County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
47,771
47,975
48,152
48,086
48,238
48,373
48,649
48,944
49,134
49,053
0.32%
Per capita personal income (dollars)
$21,442
$22,164
$23,596
$24,602
$24,729
$26,365
$27,319
$28,130
$29,531
$30,828
4.04%
Wage and salary disbursements ($000)
$334,248
$345,926
$369,266
$382,768
$407,860
$473,838
$469,205
$493,953
$510,800
$527,694
5.64%
Plus: Supplements to wages and salaries
$66,754
$68,107
$74,011
$75,648
$87,303
$103,882
$112,559
$126,184
$134,219
$139,088
9.78%
Employer contributions for employee pension and insurance
funds
$37,066
$38,043
$42,009
$43,963
$52,696
$63,801
$72,410
$83,180
$89,765
$93,914
12.53%
Employer contributions for government social insurance
$29,688
$30,064
$32,002
$31,685
$34,607
$40,081
$40,149
$43,004
$44,454
$45,174
5.51%
$50,436
$61,830
$53,244
$38,211
$39,627
$44,139
$47,030
$53,914
$56,670
$57,005
0.78%
$759
$722
$1,446
$1,951
$3,684
$4,950
$4,240
$4,298
$3,455
$4,951
24.31%
$49,677
$61,108
$51,798
$36,260
$35,943
$39,189
$42,790
$49,616
$53,215
$52,054
-0.11%
Equals: Earnings by place of work ($000)
$451,438
$475,863
$496,521
$496,627
$534,790
$621,859
$628,794
$674,051
$701,689
$723,787
5.83%
Less: Contributions for government social insurance
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
$58,318
$60,121
$62,911
$63,935
$69,366
$79,666
$80,412
$86,258
$89,826
$91,990
5.81%
Employee and self-employed contributions for government
social insurance
$28,630
$30,057
$30,909
$32,250
$34,759
$39,585
$40,263
$43,254
$45,372
$46,816
6.11%
Employer contributions for government social insurance
$29,688
$30,064
$32,002
$31,685
$34,607
$40,081
$40,149
$43,004
$44,454
$45,174
5.51%
Plus: Adjustment for residence
$230,719
$247,886
$278,427
$298,019
$294,257
$285,854
$300,427
$299,877
$319,854
$332,644
3.35%
Equals: Net earnings by place of residence ($000)
$623,839
$663,628
$712,037
$730,711
$759,681
$828,047
$848,809
$887,670
$931,717
$964,441
4.93%
Plus: Dividends, interest, and rent
$197,711
$190,972
$203,724
$215,329
$177,493
$176,771
$194,238
$189,776
$201,569
$211,325
0.19%
Plus: Personal current transfer receipts
$202,747
$208,739
$220,455
$236,977
$255,719
$270,546
$286,011
$299,361
$317,705
$336,448
6.02%
$1,024,297
$1,063,339
$1,136,216
$1,183,017
$1,192,893
$1,275,364
$1,329,058
$1,376,807
$1,450,991
$1,512,214
4.37%
Equals: Personal income ($000)
Source: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Complied by Bureau of Economic Research, Marist College 6/22/2009
81
Greene County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Growth inTotal
Growth in the Number
of Firms (within
Average Employment Compensation (within
Industry)
industry)
Growth (within Industry)
Average Wages by
Average Wages by
Industry (2007) Ranked Industry (2006) Ranked
Growth in Average
from Highest (1) to
from Highest (1) to
Compensation per job
Lowest (21)
Lowest (21)
(within Industry)
Level Change in Avg.
Employ. by Industry
(2007-2003) Ranked
from Highest (1) to
Lowest (21)
Level Change in Avg.
Employ. by Industry
(2006-2002) Ranked
from Highest (1) to
Lowest (21)
Agriculture, Forestry, Fishing & Hunting
1.60%
-0.08%
9.38%
9.48%
12
13
18
18
Construction
6.80%
8.81%
11.82%
2.76%
7
8
7
7
-3.17%
4.52%
10.26%
5.49%
3
3
6
6
5.08%
1.85%
6.62%
4.68%
6
7
9
9
Manufacturing
Wholesale Trade
Retail Trade
-0.37%
3.95%
5.67%
1.66%
15
14
2
2
Transportation and Warehousing
11.25%
-0.66%
3.14%
3.83%
14
15
11
10
Information
-5.33%
-1.75%
-0.42%
1.36%
5
5
14
14
3.26%
3.86%
10.64%
6.53%
8
9
12
13
Finance and Insurance
Real Estate and Rental and Leasing
6.53%
3.94%
2.33%
-1.54%
13
12
16
16
Professional and Technical Services
0.23%
-18.29%
-25.13%
-8.37%
10
6
13
12
N/A
N/A
NA
NA
2
2
19
21
Management of Companies and Enterprises
Administrative and Waste Services
5.83%
0.17%
11.12%
10.93%
17
17
15
15
Educational Services
7.71%
-9.06%
-0.36%
9.57%
18
16
21
20
Health Care and Social Assistance
1.10%
4.29%
7.07%
2.67%
11
11
5
5
Arts, Entertainment, and Recreation
-2.44%
-2.02%
-0.29%
1.77%
19
19
8
8
Accommodation and Food Services
-0.27%
1.24%
4.58%
3.29%
21
21
3
3
Other Services
-2.02%
2.70%
7.41%
4.59%
16
18
10
11
Federal Government
4.96%
-2.11%
2.90%
5.12%
4
4
17
17
State Government
0.00%
2.13%
-0.11%
-2.19%
1
1
4
4
Local Government
0.40%
0.78%
5.20%
4.39%
9
10
1
1
Unclassified
5.87%
-4.10%
-3.36%
0.77%
20
20
20
19
Total, All Industries
1.91%
1.55%
3.37%
1.80%
NM
NM
NM
NM
Total, All Private
1.91%
1.71%
4.00%
2.25%
NM
NM
NM
NM
Total, All Government
1.85%
1.16%
2.48%
1.31%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
82
Greene County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Construction
2003
2004
2005
2006
2007
Growth
12
12
8
9
15
1.60%
155
162
171
186
201
6.80%
Manufacturing
40
38
35
34
36
-3.17%
Wholesale Trade
33
34
39
38
40
5.08%
Retail Trade
191
190
193
187
189
-0.37%
Transportation and Warehousing
26
25
28
34
38
11.25%
Information
22
22
19
19
18
5.33%
-5.33%
Finance and Insurance
46
50
52
50
54
3.26%
Real Estate and Rental and Leasing
32
34
35
39
41
6.53%
Professional and Technical Services
83
82
81
80
85
0.23%
0
0
5
5
5
N/A
36
38
42
41
46
5.83%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
9
11
12
13
12
7.71%
80
87
81
86
85
1.10%
-2.44%
Arts, Entertainment, and Recreation
38
38
38
35
35
Accommodation and Food Services
187
181
178
186
182
-0.27%
Other Services
112
111
111
103
105
-2.02%
Federal Government
24
23
21
21
32
4.96%
State Government
8
8
8
8
8
0.00%
Local Government
50
50
50
50
51
0.40%
Unclassified
42
46
60
65
47
5.87%
Total, All Industries
1,231
1,242
1,267
1,291
1,327
1.91%
Total, All Private
1,149
1,161
1,188
1,212
1,236
1.91%
82
81
79
79
91
1.85%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
83
Greene County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
2003
2004
2005
2006
2007
Growth
91
79
84
75
93
-0.08%
Construction
647
682
706
888
865
8.81%
Manufacturing
835
855
872
952
987
4.52%
1.85%
Wholesale Trade
Retail Trade
Transportation and Warehousing
488
464
679
531
500
1,836
1,881
1,933
1,898
2,218
3.95%
374
370
389
424
338
-0.66%
Information
230
217
213
214
212
-1.75%
1.75%
Finance and Insurance
252
293
292
292
305
3.86%
Real Estate and Rental and Leasing
102
110
124
123
117
3.94%
Professional and Technical Services
769
387
370
371
286
-18.29%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
0
0
52
51
60
N/A
177
208
155
169
198
0.17%
51
56
63
55
32
-9.06%
1,058
1,041
1,060
1,135
1,250
4.29%
Arts, Entertainment, and Recreation
755
733
785
748
675
-2.02%
Accommodation and Food Services
1,593
1,551
1,587
1,654
1,641
1.24%
Other Services
388
386
422
414
428
2.70%
Federal Government
118
114
111
106
110
-2.11%
State Government
1,385
1,347
1,316
1,472
1,472
2.13%
Local Government
2,651
2,640
2,640
2,660
2,746
0.78%
Unclassified
58
47
37
65
40
-4.10%
13,947
13,553
13,948
14,357
14,632
1.55%
Total, All Private
9,793
9,452
9,881
10,119
10,304
1.71%
Total, All Government
4,154
4,101
4,067
4,238
4,328
1.16%
Total, All Industries
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
84
Greene County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
$21,146
$18,761
$19,229
$26,516
$27,971
9.48%
Construction
$37,349
$33,117
$34,617
$37,685
$40,118
2.76%
Manufacturing
$41,359
$41,442
$44,750
$47,348
$50,546
5.49%
Wholesale Trade
$33,481
$35,727
$34,542
$37,863
$40,879
4.68%
Retail Trade
$22,479
$23,608
$23,825
$23,947
$24,229
1.66%
Transportation and Warehousing
$20,991
$21,976
$21,651
$23,374
$24,559
3.83%
I f
Information
ti
$41 160
$41,160
$41 683
$41,683
$40 784
$40,784
$40 725
$40,725
$44 553
$44,553
1 36%
1.36%
Finance and Insurance
$29,140
$31,877
$33,763
$36,755
$37,239
6.53%
Real Estate and Rental and Leasing
$26,816
$30,389
$31,925
$28,313
$25,706
-1.54%
Professional and Technical Services
$53,056
$40,115
$38,534
$39,328
$34,620
-8.37%
Management of Companies and Enterprises
Administrative and Waste Services
$0
$0
$54,981
$51,794
$53,960
NA
$15,835
$17,072
$19,410
$22,801
$23,020
10.93%
Educational Services
$15,431
$20,591
$27,311
$23,100
$23,007
9.57%
Health Care and Social Assistance
$25,857
$28,021
$28,372
$28,864
$29,066
2.67%
Arts, Entertainment, and Recreation
$16,902
$17,641
$17,318
$18,380
$18,073
1.77%
Accommodation and Food Services
$11,190
$11,735
$12,197
$12,668
$12,663
3.29%
Other Services
$19,583
$18,908
$20,466
$21,056
$23,222
4.59%
Federal Government
$36,909
$39,703
$40,070
$44,733
$44,634
5.12%
State Government
$62,687
$70,503
$76,697
$61,372
$60,135
-2.19%
Local Government
$28,892
$32,032
$33,340
$33,936
$34,791
4.39%
Unclassified
$14,783
$17,986
$15,909
$16,809
$15,893
0.77%
Total, All Industries
$30,819
$31,648
$32,799
$32,654
$33,169
1.80%
Total, All Private
$26,760
$25,906
$26,726
$28,013
$28,762
2.25%
Total, All Government
$40,387
$44,882
$47,553
$43,735
$43,661
1.31%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
85
Orange County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
332,199
336,630
343,119
348,884
355,247
362,678
367,704
370,305
373,639
376,405
1.47%
Per capita personal income (dollars)
$25,305
$26,432
$27,748
$28,743
$28,415
$29,048
$30,484
$31,864
$33,248
$34,643
3.28%
Wage and salary disbursements ($000)
$3,409,877
$3,630,443
$3,847,562
$4,039,590
$4,257,427
$4,509,930
$4,769,464
$5,000,986
$5,200,682
$5,407,303
5.31%
Plus: Supplements to wages and salaries
$762,103
$789,679
$840,888
$902,200
$1,018,454
$1,115,764
$1,235,928
$1,359,208
$1,420,485
$1,478,126
8.53%
Employer contributions for employee pension and insurance funds
$479,020
$496,322
$530,469
$572,491
$664,462
$738,131
$835,129
$942,572
$986,574
$1,033,289
10.08%
Employer contributions for government social insurance
$283,083
$293,357
$310,419
$329,709
$353,992
$377,633
$400,799
$416,636
$433,911
$444,837
5.56%
$445,564
$519,785
$489,176
$622,474
$545,080
$513,522
$530,702
$571,995
$599,895
$600,219
2.41%
$8,132
$16,427
$16,105
$16,123
($5,334)
$2,190
$3,163
$6,360
$5,175
$11,624
NM
$437,432
$503,358
$473,071
$606,351
$550,414
$511,332
$527,539
$565,635
$594,720
$588,595
2.60%
$4,617,544
$4,939,907
$5,177,626
$5,564,264
$5,820,961
$6,139,216
$6,536,094
$6,932,189
$7,221,062
$7,485,648
5.61%
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
Equals: Earnings by place of work ($000)
Less: Contributions for government social insurance
$534,342
$562,769
$588,746
$631,307
$675,529
$716,523
$758,701
$794,056
$826,283
$849,766
5.59%
Employee and self-employed contributions for government social
insurance
$251,259
$269,412
$278,327
$301,598
$321,537
$338,890
$357,902
$377,420
$392,372
$404,929
5.62%
Employer contributions for government social insurance
$283,083
$293,357
$310,419
$329,709
$353,992
$377,633
$400,799
$416,636
$433,911
$444,837
5.56%
Plus: Adjustment for residence
$1,728,364
$1,870,632
$2,086,379
$2,167,681
$2,138,512
$2,155,421
$2,267,970
$2,329,582
$2,480,474
$2,644,924
4.02%
Equals: Net earnings by place of residence ($000)
$5,811,566
$6,247,770
$6,675,259
$7,100,638
$7,283,944
$7,578,114
$8,045,363
$8,467,715
$8,875,253
$9,280,806
5.14%
Plus: Dividends, interest, and rent
$1,370,058
$1,382,683
$1,497,234
$1,474,807
$1,235,398
$1,288,555
$1,345,087
$1,515,510
$1,623,928
$1,710,401
1.80%
Plus: Personal current transfer receipts
$1,224,758
$1,267,393
$1,348,230
$1,452,632
$1,575,167
$1,668,392
$1,818,659
$1,816,271
$1,923,474
$2,048,432
6.10%
Equals: Personal income ($000)
$8,406,382
$8,897,846
$9,520,723
$10,028,077
$10,094,509
$10,535,061
$11,209,109
$11,799,496
$12,422,655
$13,039,639
4.80%
Source: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Complied by Bureau of Economic Research, Marist College 6/22/2009
86
Orange County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Growth in the Number
of Firms (within
Average Employment
industry)
Growth (within Industry)
Growth inTotal
Compensation (within
Industry)
Average Wages by
Average Wages by
Industry (2007) Ranked Industry (2006) Ranked
Growth in Average
from Highest (1) to
from Highest (1) to
Compensation per job
Lowest (23)
Lowest (23)
(within Industry)
0.72%
0.08%
2.38%
2.29%
20
21
Mining
-6.89%
-9.83%
-2.42%
Utilities
NA
NA
NA
8.21%
2
NA
NA
Construction
4.89%
3.09%
5.23%
2.07%
Manufacturing
1.33%
-2.41%
-0.01%
2.45%
Level Change in Avg.
Employ. by Industry
(2007-2003) Ranked
from Highest (1) to
Lowest (23)
Level Change in Avg.
Employ. by Industry
(2006-2002) Ranked
from Highest (1) to
Lowest (23)
19
20
3
22
23
2
NA
22
10
11
7
7
11
12
5
5
Wholesale Trade
3.50%
0.27%
4.35%
4.07%
5
7
6
6
Retail Trade
1.42%
2.09%
3.90%
1.77%
17
18
1
1
Transportation and Warehousing
3.11%
3.00%
5.52%
2.44%
12
13
8
10
Information
2.03%
1.31%
2.95%
1.61%
9
9
15
15
Finance and Insurance
0.23%
-2.02%
3.39%
5.52%
6
8
13
13
Real Estate and Rental and Leasing
3.89%
3.59%
5.90%
2.23%
14
15
17
17
Professional and Technical Services
3.66%
2.69%
5.63%
2.87%
7
6
11
11
11.81%
-4.87%
-1.05%
4.02%
1
1
20
19
Administrative and Waste Services
Management of Companies and Enterprises
6.17%
2.81%
7.40%
4.46%
16
17
12
12
Educational Services
3.54%
2.17%
7.08%
4.81%
15
16
16
16
Health Care and Social Assistance
2.51%
2.59%
7.18%
4.48%
13
14
3
3
Arts, Entertainment, and Recreation
3.01%
0.34%
0.91%
0.57%
21
22
18
18
Accommodation and Food Services
1.83%
-0.21%
4.40%
4.62%
22
23
4
4
Other Services
3.09%
2.40%
5.25%
2.79%
19
20
10
9
Federal Government
0.30%
0.33%
4.76%
4.42%
4
5
9
8
State Government
0.74%
-4.70%
-5.08%
-0.40%
3
4
14
14
Local Government
2.08%
1.18%
7.27%
6.02%
8
10
2
2
-0.77%
-3.22%
-0.72%
2.58%
18
19
21
21
Unclassified
Total, All Industries
2.72%
1.14%
4.58%
3.40%
NM
NM
NM
NM
Total, All Private
2.76%
1.34%
4.43%
3.04%
NM
NM
NM
NM
Total, All Government
1.46%
0.41%
4.99%
4.56%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
87
Orange County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
94
96
95
93
99
0.72%
Mining
10
9
9
9
7
-6.89%
Utilities
Construction
12
13
13
13
0
NA
1,040
1,075
1,123
1,211
1,244
4.89%
Manufacturing
339
338
330
346
358
1.33%
Wholesale Trade
481
507
530
547
550
3.50%
Retail Trade
1,342
1,380
1,383
1,395
1,432
1.42%
T
Transportation
t ti and
d Warehousing
W
h
i
217
216
222
234
243
3 11%
3.11%
Information
109
111
108
112
120
2.03%
Finance and Insurance
471
482
487
477
479
0.23%
Real Estate and Rental and Leasing
347
369
384
391
408
3.89%
Professional and Technical Services
753
782
809
837
871
3.66%
22
25
26
27
37
11.81%
Management of Companies and Enterprises
Administrative and Waste Services
374
401
418
443
480
6.17%
Educational Services
100
108
109
108
119
3.54%
Health Care and Social Assistance
836
857
883
905
921
2.51%
Arts, Entertainment, and Recreation
126
135
142
143
142
3.01%
Accommodation and Food Services
675
694
707
713
729
1.83%
Other Services
798
830
860
871
907
3.09%
Federal Government
95
95
92
92
98
0.30%
State Government
13
13
13
14
13
0.74%
Local Government
185
197
198
199
204
2.08%
Unclassified
403
406
493
487
354
-0.77%
Total, All Industries
8,839
9,138
9,433
9,667
9,826
2.72%
Total, All Private
8,546
8,833
9,130
9,362
9,511
2.76%
293
305
303
305
315
1.46%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
88
Orange County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Mining
Utilities
Construction
2003
2004
2005
2006
2007
Growth
867
888
842
846
892
0.08%
86
87
71
68
58
-9.83%
576
557
579
592
0
NA
4,910
5,163
5,452
5,398
5,591
3.09%
Manufacturing
8,587
8,120
7,804
7,841
7,736
-2.41%
Wholesale Trade
7,097
7,390
7,403
7,222
7,277
0.27%
20,143
20,829
20,860
21,573
21,954
2.09%
Transportation and Warehousing
4,629
4,812
4,696
4,978
5,276
3.00%
Information
2,320
2,447
2,352
2,456
2,472
1.31%
-2.02%
Retail Trade
Finance and Insurance
3,813
3,878
3,885
3,592
3,578
Real Estate and Rental and Leasing
1,539
1,628
1,795
1,765
1,763
3.59%
Professional and Technical Services
4,432
4,645
4,787
4,891
4,932
2.69%
Management of Companies and Enterprises
1,112
1,054
1,003
1,017
882
-4.87%
Administrative and Waste Services
3,944
4,384
4,712
4,634
4,406
2.81%
Educational Services
Health Care and Social Assistance
1,775
1,824
1,823
1,836
1,970
2.17%
15,903
16,816
17,311
17,647
17,639
2.59%
Arts, Entertainment, and Recreation
1,528
1,654
1,653
1,638
1,562
0.34%
Accommodation and Food Services
8,593
8,292
8,394
8,182
8,560
-0.21%
Other Services
4,681
4,845
4,907
5,056
5,159
2.40%
Federal Government
5,229
5,011
5,164
5,189
5,223
0.33%
State Government
2,917
2,908
2,925
2,501
2,473
-4.70%
Local Government
18,821
18,832
19,114
19,371
19,675
1.18%
540
434
525
622
383
-3.22%
124,042
126,497
128,057
128,915
130,050
1.14%
Unclassified
Total, All Industries
Total, All Private
97,075
99,746
100,854
101,854
102,679
1.34%
Total, All Government
26,967
26,751
27,203
27,061
27,371
0.41%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
89
Orange County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
$19,803
$21,692
$20,576
$21,536
$22,261
2.29%
Mining
$53,673
$51,749
$61,482
$65,468
$70,805
8.21%
Utilities
$68,445
$74,792
$77,912
$79,546
$0
NA
Construction
$39,749
$39,925
$41,347
$42,419
$42,729
2.07%
Manufacturing
$38,545
$40,139
$40,442
$41,728
$42,673
2.45%
Wholesale Trade
$41,018
$43,337
$44,832
$45,786
$48,712
4.07%
Retail Trade
$23,486
$24,050
$24,637
$24,798
$25,252
1.77%
T
Transportation
t ti and
d Warehousing
W
h
i
$35 115
$35,115
$35 411
$35,411
$36 122
$36,122
$37 384
$37,384
$38 563
$38,563
2 44%
2.44%
Information
$42,594
$41,950
$44,352
$44,332
$44,885
1.61%
Finance and Insurance
$38,418
$40,471
$44,101
$44,721
$47,818
5.52%
Real Estate and Rental and Leasing
$28,596
$28,612
$29,898
$31,452
$30,458
2.23%
Professional and Technical Services
$42,142
$43,522
$46,492
$46,227
$47,100
2.87%
Management of Companies and Enterprises
$77,004
$77,235
$81,504
$84,516
$89,637
4.02%
Administrative and Waste Services
$22,771
$24,994
$25,308
$26,333
$27,595
4.46%
Educational Services
$23,435
$25,098
$26,327
$27,580
$28,269
4.81%
Health Care and Social Assistance
$31,250
$32,296
$33,776
$35,851
$36,929
4.48%
Arts, Entertainment, and Recreation
$16,921
$17,199
$17,471
$17,443
$17,283
0.57%
Accommodation and Food Services
$12,865
$13,587
$14,048
$15,133
$15,281
4.62%
Other Services
$21,179
$21,996
$22,893
$22,970
$23,777
2.79%
Federal Government
$45,467
$47,787
$49,374
$51,740
$54,237
4.42%
State Government
$59,970
$62,797
$64,666
$59,578
$60,341
-0.40%
Local Government
$36,462
$40,473
$41,151
$44,193
$46,742
6.02%
Unclassified
$22,405
$23,651
$21,386
$24,194
$25,161
2.58%
Total, All Industries
$32,656
$34,147
$35,218
$36,281
$37,448
3.40%
Total, All Private
$30,408
$31,432
$32,514
$33,417
$34,262
3.04%
Total, All Government
$40,751
$44,270
$45,241
$47,062
$49,401
4.56%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
90
Putnam County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
93,301
94,647
96,067
96,995
98,187
98,740
99,223
99,270
99,133
99,207
0.68%
Per capita personal income (dollars)
$34,539
$36,487
$38,904
$39,576
$39,238
$40,342
$42,795
$44,778
$47,942
$50,813
3.92%
Wage and salary disbursements ($000)
$698,612
$725,651
$757,874
$837,933
$899,353
$943,678
$1,014,612
$1,066,036
$1,137,966
$1,194,660
6.45%
Plus: Supplements to wages and salaries
$133,114
$135,745
$144,176
$162,677
$187,991
$205,693
$232,019
$254,853
$269,510
$281,152
9.87%
Employer contributions for employee pension and insurance
funds
$76,096
$78,132
$83,923
$94,482
$113,162
$126,582
$146,834
$166,535
$174,961
$183,312
11.81%
Employer contributions for government social insurance
$57,018
$57,613
$60,253
$68,195
$74,829
$79,111
$85,185
$88,318
$94,549
$97,840
6.87%
$162,940
$164,743
$169,181
$124,885
$123,180
$129,530
$144,178
$153,971
$166,328
$159,466
-0.07%
$595
$1,741
$1,466
$657
$3,215
$1,252
$1,002
$252
$586
$543
-9.75%
$162,345
$163,002
$167,715
$124,228
$119,965
$128,278
$143,176
$153,719
$165,742
$158,923
-0.01%
Equals: Earnings by place of work ($000)
$994,666
$1,026,139
$1,071,231
$1,125,495
$1,210,524
$1,278,901
$1,390,809
$1,474,860
$1,573,804
$1,635,278
6.09%
Less: Contributions for government social insurance
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
$112,712
$115,104
$119,073
$132,626
$145,243
$153,517
$165,239
$173,294
$185,787
$192,321
6.73%
Employee and self-employed contributions for government
social insurance
$55,694
$57,491
$58,820
$64,431
$70,414
$74,406
$80,054
$84,976
$91,238
$94,481
6.59%
Employer contributions for government social insurance
$57,018
$57,613
$60,253
$68,195
$74,829
$79,111
$85,185
$88,318
$94,549
$97,840
6.87%
Plus: Adjustment for residence
$1,517,941
$1,691,800
$1,867,421
$1,884,184
$1,845,429
$1,883,937
$1,997,086
$2,086,548
$2,208,235
$2,357,979
4.07%
Equals: Net earnings by place of residence ($000)
$2,399,895
$2,602,835
$2,819,579
$2,877,053
$2,910,710
$3,009,321
$3,222,656
$3,388,114
$3,596,252
$3,800,936
4.77%
Plus: Dividends, interest, and rent
$532,803
$545,941
$591,294
$602,332
$545,835
$561,114
$581,301
$604,193
$678,736
$721,520
2.63%
Plus: Personal current transfer receipts
$289,781
$304,576
$326,556
$359,249
$396,141
$412,982
$442,324
$452,761
$477,661
$518,582
6.69%
$3,222,479
$3,453,352
$3,737,429
$3,838,634
$3,852,686
$3,983,417
$4,246,281
$4,445,068
$4,752,649
$5,041,038
4.63%
Equals: Personal income ($000)
Source: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Compiled by Bureau of Economic Reserach, Marist College 6/22/2009
91
Putnam County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Growth in the Number of Average Employment
Firms (within industry) Growth (within Industry)
Growth inTotal
Compensation (within
Industry)
Growth in Average
Compensation per job
(within Industry)
Average Wages by
Average Wages by
Industry (2007) Ranked Industry (2006) Ranked
from Highest (1) to
from Highest (1) to
Lowest (21)
Lowest (21)
Level Change in Avg.
Employ. by Industry
(2007-2003) Ranked
from Highest (1) to
Lowest (21)
Level Change in Avg.
Employ. By industry
(2006-2002) Ranked
from Highest (1) to
Lowest (21)
Agriculture, Forestry, Fishing & Hunting
0.03%
0.17%
4.43%
4.26%
17
15
20
20
Construction
4.95%
6.22%
10.79%
4.30%
9
10
4
4
-0.12%
5.42%
7.67%
2.14%
7
7
5
5
Wholesale Trade
Manufacturing
1.36%
9.51%
12.76%
2.96%
10
9
10
10
Retail Trade
0.07%
1.93%
4.71%
2.72%
19
17
3
3
1.03%
4.51%
7.59%
2.95%
11
11
15
15
-1.30%
-0.72%
3.46%
4.21%
4
4
14
14
Transportation and Warehousing
Information
Finance and Insurance
1.19%
-5.65%
-0.79%
5.15%
3
3
13
11
Real Estate and Rental and Leasing
1.44%
-4.03%
2.87%
7.19%
14
13
16
16
Professional and Technical Services
2.54%
1.52%
5.80%
4.21%
6
6
8
8
NA
NA
NA
NA
1
1
21
21
Administrative and Waste Services
Management of Companies and Enterprises
5.45%
8.64%
11.83%
2.93%
16
16
9
9
Educational Services
5.17%
3.23%
13.05%
9.52%
13
14
12
12
Health Care and Social Assistance
2.30%
4.42%
8.67%
4.07%
12
12
2
2
Arts, Entertainment, and Recreation
-1.86%
-0.42%
0.48%
0.91%
20
20
11
13
Accommodation and Food Services
2.54%
5.03%
4.12%
-0.87%
21
21
6
6
Other Services
1.48%
1.22%
5.83%
4.55%
18
18
7
7
Federal Government
-3.58%
-2.98%
1.33%
4.44%
8
8
17
18
State Government
0.00%
-0.76%
0.16%
0.93%
2
2
19
19
Local Government
1.12%
0.87%
5.77%
4.86%
5
5
1
1
Unclassified
-1.68%
0.47%
0.93%
0.46%
15
19
18
17
Total, All Industries
2.16%
2.73%
6.37%
3.54%
NM
NM
NM
NM
Total, All Private
2.20%
3.21%
6.67%
3.35%
NM
NM
NM
NM
Total, All Government
0.00%
0.68%
5.44%
4.73%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
92
Putnam County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
2003
2004
2005
2006
2007
Growth
16
18
17
16
17
0.03%
570
580
610
655
683
4.95%
81
78
78
81
79
-0.12%
Wholesale Trade
136
136
136
137
145
1.36%
Retail Trade
298
297
297
299
298
0.07%
48
47
47
48
50
1.03%
Construction
Manufacturing
Transportation and Warehousing
I f
Information
ti
55
54
52
51
53
-1.30%
1 30%
Finance and Insurance
115
115
117
115
122
1.19%
Real Estate and Rental and Leasing
100
103
104
100
109
1.44%
Professional and Technical Services
292
313
310
313
331
2.54%
8
6
0
7
5
NA
163
175
181
190
204
5.45%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
30
34
37
37
37
5.17%
225
222
226
235
245
2.30%
-1.86%
Arts, Entertainment, and Recreation
66
66
65
62
62
Accommodation and Food Services
163
167
173
176
180
2.54%
Other Services
257
261
266
264
275
1.48%
-3.58%
12
12
12
12
10
State Government
Federal Government
4
4
4
4
4
0.00%
Local Government
35
35
35
35
37
1.12%
Unclassified
170
172
205
214
140
-1.68%
Total, All Industries
2,846
2,897
2,982
3,052
3,086
2.16%
Total, All Private
2,795
2,846
2,931
3,001
3,035
2.20%
51
51
51
51
51
0.00%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
93
Putnam County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
2003
2004
2005
2006
2007
Growth
57
59
51
56
59
0.17%
Construction
2,134
2,275
2,369
2,557
2,722
6.22%
Manufacturing
1,364
1,388
1,466
1,569
1,670
5.42%
9.51%
Wholesale Trade
Retail Trade
Transportation and Warehousing
629
677
722
868
875
2,509
2,619
2,702
2,650
2,745
1.93%
298
289
301
347
339
4.51%
Information
565
563
583
582
536
-0.72%
0.72%
Finance and Insurance
859
910
893
751
707
-5.65%
Real Estate and Rental and Leasing
329
316
299
285
282
-4.03%
Professional and Technical Services
1,133
1,166
1,109
1,195
1,207
1.52%
Management of Companies and Enterprises
165
63
0
22
12
NA
Administrative and Waste Services
828
945
1,103
1,181
1,121
8.64%
Educational Services
625
713
699
718
730
3.23%
3,707
3,736
4,115
4,246
4,316
4.42%
Arts, Entertainment, and Recreation
Health Care and Social Assistance
737
762
717
709
748
-0.42%
Accommodation and Food Services
1,201
1,246
1,292
1,321
1,491
5.03%
Other Services
1,322
1,323
1,370
1,321
1,406
1.22%
189
187
181
177
167
-2.98%
-0.76%
Federal Government
State Government
120
119
118
116
117
Local Government
4,141
4,373
4,182
4,301
4,361
0.87%
181
161
178
230
155
0.47%
Total, All Industries
23,251
24,042
24,631
25,346
25,912
2.73%
Total, All Private
18,801
19,363
20,150
20,752
21,267
3.21%
4,450
4,679
4,481
4,594
4,645
0.68%
Unclassified
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
94
Putnam County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
$25,058
$27,875
$28,602
$30,655
$29,434
4.26%
Construction
$41,853
$45,158
$44,924
$46,605
$50,853
4.30%
Manufacturing
$48,504
$50,799
$50,380
$51,707
$53,451
2.14%
Wholesale Trade
$43,922
$47,003
$46,446
$48,451
$50,062
2.96%
Retail Trade
$25,587
$27,022
$27,695
$28,208
$28,645
2.72%
Transportation and Warehousing
$45,221
$41,458
$43,311
$46,503
$49,390
2.95%
I f
Information
ti
$50 128
$50,128
$49 989
$49,989
$51 947
$51,947
$55 561
$55,561
$58 423
$58,423
4 21%
4.21%
Finance and Insurance
$48,940
$52,237
$61,857
$57,266
$60,074
5.15%
Real Estate and Rental and Leasing
$27,603
$31,338
$33,475
$36,221
$36,329
7.19%
Professional and Technical Services
$47,981
$45,831
$47,406
$53,932
$54,357
4.21%
Management of Companies and Enterprises
$83,885
$107,826
$0
$74,567
$110,978
NA
Administrative and Waste Services
$26,516
$28,601
$27,905
$28,559
$30,664
2.93%
Educational Services
$25,833
$29,358
$30,987
$34,732
$37,417
9.52%
Health Care and Social Assistance
$36,706
$40,279
$40,305
$43,033
$43,360
4.07%
Arts, Entertainment, and Recreation
$19,644
$21,120
$19,984
$20,983
$20,619
0.91%
Accommodation and Food Services
$14,921
$16,201
$15,184
$15,079
$14,805
-0.87%
Other Services
$24,524
$25,101
$25,965
$27,640
$29,199
4.55%
4.44%
Federal Government
$43,202
$46,227
$45,247
$50,214
$51,502
State Government
$59,712
$60,415
$60,732
$61,345
$62,067
0.93%
Local Government
$47,749
$48,664
$53,014
$54,981
$56,941
4.86%
0.46%
Unclassified
$29,398
$30,260
$29,034
$26,556
$32,107
Total, All Industries
$37,847
$39,456
$40,545
$42,240
$43,533
3.54%
Total, All Private
$35,473
$37,183
$37,797
$39,425
$40,619
3.35%
Total, All Government
$47,878
$48,866
$52,903
$54,958
$56,875
4.73%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
95
Rockland County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
282,044
285,265
287,409
288,656
290,200
290,948
292,793
294,636
295,927
297,005
0.54%
Per capita personal income (dollars)
$36,984
$38,396
$41,154
$41,069
$41,052
$41,628
$45,054
$46,759
$49,820
$53,482
3.75%
Wage and salary disbursements ($000)
$3,779,310
$3,966,091
$4,173,393
$4,399,458
$4,565,895
$4,734,699
$4,939,734
$5,081,985
$5,358,544
$5,749,757
4.49%
Plus: Supplements to wages and salaries
$718,758
$741,060
$785,885
$848,631
$1,002,954
$1,081,898
$1,192,393
$1,243,865
$1,320,591
$1,385,592
8.42%
Employer contributions for employee pension and insurance funds
$403,281
$416,864
$445,914
$491,627
$624,798
$685,645
$777,722
$821,879
$876,125
$917,176
10.93%
Employer contributions for government social insurance
$315,477
$324,196
$339,971
$357,004
$378,156
$396,253
$414,671
$421,986
$444,466
$468,416
4.55%
$991,072
$965,713
$1,053,443
$918,662
$999,328
$1,001,933
$1,094,264
$1,147,070
$1,232,065
$1,252,016
2.93%
$195
$936
$380
$797
$1,003
$714
$526
$748
$640
$402
3.48%
$990,877
$964,777
$1,053,063
$917,865
$998,325
$1,001,219
$1,093,738
$1,146,322
$1,231,425
$1,251,614
2.93%
$5,489,140
$5,672,864
$6,012,721
$6,166,751
$6,568,177
$6,818,530
$7,226,391
$7,472,920
$7,911,200
$8,387,365
4.81%
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
Equals: Earnings by place of work ($000)
Less: Contributions for government social insurance
$610,065
$630,917
$659,661
$693,727
$738,467
$769,567
$805,905
$827,246
$872,819
$920,971
4.71%
Employee and self-employed contributions for government social
insurance
$294,588
$306,721
$319,690
$336,723
$360,311
$373,314
$391,234
$405,260
$428,353
$452,555
4.89%
Employer contributions for government social insurance
$315,477
$324,196
$339,971
$357,004
$378,156
$396,253
$414,671
$421,986
$444,466
$468,416
4.55%
$2,564,295
$2,728,019
$3,183,486
$3,056,869
$2,888,777
$2,877,929
$3,050,058
$3,250,298
$3,392,904
$3,817,728
3.20%
Equals: Net earnings by place of residence ($000)
$7,443,370
$7,769,966
$8,536,546
$8,529,893
$8,718,487
$8,926,892
$9,470,544
$9,895,972
$10,431,285
$11,284,122
4.26%
Plus: Dividends, interest, and rent
$1,842,955
$1,987,356
$2,014,743
$1,924,823
$1,670,950
$1,585,161
$1,956,449
$2,131,557
$2,435,910
$2,603,983
2.96%
Plus: Personal current transfer receipts
$1,144,869
$1,195,783
$1,276,602
$1,400,110
$1,523,769
$1,599,636
$1,764,436
$1,749,425
$1,875,779
$1,996,382
6.55%
Equals: Personal income ($000)
$10,431,194
$10,953,105
$11,827,891
$11,854,826
$11,913,206
$12,111,689
$13,191,429
$13,776,954
$14,742,974
$15,884,487
4.31%
Plus: Adjustment for residence
Source: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Compiled by Bureau of Economic Research, Marist College 6/22/2009
96
Rockland County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Utilities
Construction
Growth in the
Number of Firms
(within industry)
-2.64%
Level Change in
Level Change in
Average Wages by Average Wages by
Avg. Employ. by
Avg. Employ. by
Average
Growth inTotal
Growth in Average
Industry (2007)
Industry (2006)
Industry (2007-2003) Industry (2006-2002)
Employment Growth Compensation (within Compensation per Ranked from Highest Ranked from Highest Ranked from Highest Ranked from Highest
(within Industry)
Industry)
job (within Industry)
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
4.14%
9.64%
5.28%
18
18
21
22
NA
NA
NA
NA
22
2
22
19
4.04%
4.52%
6.38%
1.78%
9
9
6
8
Manufacturing
-0.11%
0.24%
2.76%
2.52%
2
3
4
4
Wholesale Trade
-0.77%
0.62%
4.59%
3.94%
4
5
10
9
Retail Trade
-0.13%
-0.40%
0.94%
1.34%
17
19
3
3
Transportation and Warehousing
-0.78%
0 78%
-3.22%
3 22%
2 62%
2.62%
6 04%
6.04%
14
15
15
15
Information
-1.57%
-3.46%
3.74%
7.46%
3
4
14
14
Finance and Insurance
2.16%
2.70%
7.38%
4.56%
6
7
13
13
Real Estate and Rental and Leasing
4.43%
-0.65%
-1.07%
-0.42%
13
13
16
16
Professional and Technical Services
1.50%
2.23%
5.00%
2.71%
5
6
7
6
Management of Companies and Enterprises
4.94%
4.61%
15.22%
10.14%
1
1
18
18
Administrative and Waste Services
4.05%
5.27%
9.20%
3.74%
15
16
9
10
Educational Services
4.83%
-0.32%
5.97%
6.30%
12
14
12
12
Health Care and Social Assistance
1.84%
1.30%
6.25%
4.89%
11
12
1
1
17
Arts, Entertainment, and Recreation
1.82%
0.33%
3.32%
2.99%
19
20
17
Accommodation and Food Services
2.96%
1.27%
4.85%
3.54%
21
22
5
5
Other Services
1.93%
0.68%
4.25%
3.54%
20
21
11
11
Federal Government
-1.68%
-1.94%
1.72%
3.73%
7
8
19
21
State Government
0.00%
5.06%
8.43%
3.21%
10
11
8
7
Local Government
-0.07%
1.13%
5.55%
4.37%
8
10
2
2
Unclassified
0.83%
1.47%
5.27%
3.75%
16
17
20
20
Total, All Industries
1.76%
1.14%
4.94%
3.75%
NM
NM
NM
NM
1.80%
0.95%
4.65%
3.67%
NM
NM
NM
NM
-0.37%
2.00%
6.09%
4.01%
NM
NM
NM
NM
Total, All Private
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
97
Rockland County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Utilities
Construction
2003
2004
8
2005
6
2006
6
2007
6
Growth
7
-2.64%
6
6
14
7
0
NA
866
896
906
962
1,019
4.04%
Manufacturing
267
261
263
262
265
-0.11%
Wholesale Trade
674
661
658
656
651
-0.77%
1,130
1,135
1,136
1,118
1,131
-0.13%
Retail Trade
p
g
Transportation
and Warehousing
157
150
145
146
153
-0.78%
Information
163
160
152
151
155
-1.57%
Finance and Insurance
464
462
478
487
503
2.16%
Real Estate and Rental and Leasing
343
354
373
384
409
4.43%
Professional and Technical Services
1,087
1,091
1,091
1,093
1,170
1.50%
24
27
27
28
30
4.94%
Management of Companies and Enterprises
Administrative and Waste Services
496
511
518
528
595
4.05%
Educational Services
142
151
157
163
173
4.83%
Health Care and Social Assistance
971
999
1,004
1,010
1,058
1.84%
1.82%
Arts, Entertainment, and Recreation
156
157
168
166
166
Accommodation and Food Services
568
585
593
619
639
2.96%
Other Services
794
804
816
824
863
1.93%
Federal Government
36
37
35
35
34
-1.68%
State Government
18
18
18
18
18
0.00%
Local Government
138
137
138
138
137
-0.07%
Unclassified
462
543
619
681
430
0.83%
Total, All Industries
8,968
9,150
9,317
9,481
9,613
1.76%
Total, All Private
8,776
8,958
9,126
9,290
9,424
1.80%
192
192
191
191
189
-0.37%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
98
Rockland County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Utilities
Construction
Manufacturing
Wholesale Trade
Retail Trade
2003
2004
2005
2006
2007
Growth
75
89
90
97
88
4.14%
905
927
905
902
0
NA
5,083
5,268
5,205
5,499
6,207
4.52%
11,210
11,432
11,631
11,364
11,377
0.24%
4,860
4,530
4,735
4,834
4,852
0.62%
14,449
14,326
14,364
14,128
14,263
-0.40%
Transportation and Warehousing
2,511
2,399
2,377
2,455
2,107
-3.22%
Information
3,142
3,090
2,669
2,631
2,856
-3.46%
Finance and Insurance
2,762
2,710
2,680
2,725
3,147
2.70%
Real Estate and Rental and Leasing
1,575
1,630
1,551
1,570
1,553
-0.65%
Professional and Technical Services
5,237
5,346
5,665
5,603
5,711
2.23%
4.61%
Management of Companies and Enterprises
911
973
1,007
1,038
1,105
Administrative and Waste Services
4,055
4,269
4,329
4,675
5,009
5.27%
Educational Services
3,342
3,175
3,141
3,111
3,323
-0.32%
Health Care and Social Assistance
17,124
17,525
17,668
17,853
18,094
1.30%
Arts, Entertainment, and Recreation
1,264
1,292
1,348
1,237
1,313
0.33%
Accommodation and Food Services
6,410
6,474
6,643
6,602
6,760
1.27%
Other Services
4,409
4,493
4,428
4,421
4,599
0.68%
640
618
601
596
591
-1.94%
Federal Government
State Government
4,749
4,729
4,849
5,582
5,595
5.06%
Local Government
14,584
14,800
15,018
15,068
15,288
1.13%
Unclassified
557
599
701
820
512
1.47%
110,293
111,153
112,043
113,233
115,675
1.14%
Total, All Private
90,320
91,006
91,575
91,987
94,201
0.95%
Total, All Government
19,973
20,147
20,468
21,246
21,474
2.00%
Total, All Industries
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
99
Rockland County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
$28,675
2007
$28,539
Growth
Agriculture, Forestry, Fishing & Hunting
$21,324
$26,163
$26,402
5.28%
Utilities
$82,054
$71,557
$77,253
$81,658
$0
NA
Construction
$49,875
$50,925
$53,593
$52,973
$53,408
1.78%
Manufacturing
$64,060
$66,380
$66,706
$69,755
$70,758
2.52%
Wholesale Trade
$56,668
$59,330
$61,336
$64,166
$66,119
3.94%
Retail Trade
$25,645
$25,776
$25,971
$26,366
$27,100
1.34%
6.04%
p
g
Transportation
and Warehousing
,
$27,496
,
$29,366
,
$31,144
,
$31,997
,
$35,311
Information
$53,478
$57,730
$63,215
$67,881
$70,662
7.46%
Finance and Insurance
$53,662
$55,966
$56,304
$61,535
$63,950
4.56%
Real Estate and Rental and Leasing
$36,238
$35,127
$34,647
$34,961
$35,568
-0.42%
Professional and Technical Services
$57,339
$61,144
$59,183
$62,504
$64,833
2.71%
Management of Companies and Enterprises
$70,062
$81,476
$91,025
$99,564
$102,730
10.14%
Administrative and Waste Services
$29,451
$29,558
$30,376
$30,821
$34,646
3.74%
Educational Services
$29,803
$35,151
$29,980
$34,572
$40,794
6.30%
Health Care and Social Assistance
$34,910
$36,524
$38,910
$39,525
$42,603
4.89%
Arts, Entertainment, and Recreation
$22,924
$22,244
$22,201
$22,713
$26,285
2.99%
Accommodation and Food Services
$16,777
$17,023
$17,750
$18,441
$19,178
3.54%
Other Services
$20,044
$20,305
$20,889
$21,875
$22,979
3.54%
Federal Government
$48,386
$51,929
$51,956
$56,029
$55,939
3.73%
State Government
$42,779
$42,553
$41,249
$45,845
$48,257
3.21%
Local Government
$45,133
$46,722
$48,342
$51,023
$53,497
4.37%
Unclassified
$25,812
$25,294
$27,154
$29,777
$28,600
3.75%
Total, All Industries
$40,593
$42,060
$43,061
$44,981
$47,197
3.75%
Total, All Private
$39,690
$41,209
$42,233
$43,868
$46,057
3.67%
Total, All Government
$44,678
$45,903
$46,768
$49,803
$52,199
4.01%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
100
Sullivan County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
72,974
73,341
74,232
73,980
74,026
74,722
75,299
75,539
75,911
76,418
0.49%
Per capita personal income (dollars)
$23,087
$23,893
$25,607
$26,036
$26,312
$27,139
$28,825
$29,901
$30,412
$31,490
3.45%
Wage and salary disbursements ($000)
$600,528
$633,888
$667,652
$705,780
$754,309
$796,320
$834,049
$872,993
$873,111
$892,736
4.78%
Plus: Supplements to wages and salaries
$116,460
$120,869
$128,763
$137,019
$155,898
$170,511
$195,289
$218,640
$220,662
$224,388
8.80%
Employer contributions for employee pension and
insurance funds
$66,982
$69,654
$74,631
$78,731
$92,244
$102,883
$124,063
$143,399
$145,223
$148,355
10.88%
Employer contributions for government social insurance
$49,478
$51,215
$54,132
$58,288
$63,654
$67,628
$71,226
$75,241
$75,439
$76,033
5.53%
$163,769
$176,452
$223,303
$147,707
$136,383
$126,960
$138,025
$147,355
$141,459
$151,262
-2.76%
$510
$863
$1,542
$2,328
$4,448
$6,947
$8,767
$6,615
$793
$9,584
25.53%
$163,259
$175,589
$221,761
$145,379
$131,935
$120,013
$129,258
$140,740
$140,666
$141,678
-3.31%
Equals: Earnings by place of work ($000)
$880,757
$931,209
$1,019,718
$990,506
$1,046,590
$1,093,791
$1,167,363
$1,238,988
$1,235,232
$1,268,386
4.19%
Less: Contributions for government social insurance
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
$101,069
$105,732
$111,920
$118,001
$127,922
$135,010
$142,243
$150,711
$151,598
$154,019
5.23%
Employee and self-employed contributions for
government social insurance
$51,591
$54,517
$57,788
$59,713
$64,268
$67,382
$71,017
$75,470
$76,159
$77,986
4.94%
Employer contributions for government social insurance
$49,478
$51,215
$54,132
$58,288
$63,654
$67,628
$71,226
$75,241
$75,439
$76,033
5.53%
Plus: Adjustment for residence
$192,556
$213,452
$241,506
$266,031
$266,820
$275,374
$289,624
$303,555
$332,371
$360,181
6.35%
Equals: Net earnings by place of residence ($000)
$972,244
$1,038,929
$1,149,304
$1,138,536
$1,185,488
$1,234,155
$1,314,744
$1,391,832
$1,416,005
$1,474,548
4.55%
Plus: Dividends, interest, and rent
$336,778
$326,229
$343,918
$349,869
$290,537
$293,655
$321,762
$318,201
$310,447
$322,107
-0.83%
Plus: Personal current transfer receipts
$375,732
$387,212
$407,663
$437,761
$471,762
$500,072
$533,960
$548,666
$582,127
$609,728
5.83%
$1,684,754
$1,752,370
$1,900,885
$1,926,166
$1,947,787
$2,027,882
$2,170,466
$2,258,699
$2,308,579
$2,406,383
3.95%
Equals: Personal income ($000)
Source: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Compiled by Bureau of Economic Researchm Marist College 6/22/2009
101
Sullivan County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Growth in the
Number of Firms
(within industry)
-3.58%
Average
Growth inTotal
Growth in Average
Employment Growth Compensation (within Compensation per
(within Industry)
Industry)
job (within Industry)
1.96%
10.00%
7.89%
Level Change in
Level Change in
Average Wages by
Average Wages by
Avg. Employ. by
Avg. Employ. by
Industry (2007)
Industry (2006)
Industry (2007-2003) Industry (2006-2002)
Ranked from Highest Ranked from Highest Ranked from Highest Ranked from Highest
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
11
13
16
16
Mining
0.93%
9.64%
11.78%
1.95%
3
3
21
21
Construction
4.15%
5.61%
9.46%
3.64%
9
9
8
6
Manufacturing
-1.95%
8.45%
10.36%
1.77%
13
12
5
5
Wholesale Trade
-0.13%
-0.35%
4.05%
4.42%
8
8
10
10
1.71%
-1.25%
1.73%
3.02%
15
16
3
3
Retail Trade
Transportation and Warehousing
-1.65%
1 65%
-1.56%
1 56%
-1.18%
1 18%
0 39%
0.39%
14
14
14
14
Information
1.45%
-0.53%
-5.10%
-4.59%
7
7
19
18
Finance and Insurance
2.35%
-1.86%
4.65%
6.64%
2
2
9
9
Real Estate and Rental and Leasing
0.90%
0.14%
2.95%
2.81%
18
19
15
15
Professional and Technical Services
2.55%
2.03%
3.42%
1.36%
12
11
13
12
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
18.28%
5.71%
8.41%
2.56%
6
5
17
17
4.36%
11.97%
13.73%
1.57%
16
15
12
13
20
-1.98%
-1.76%
-0.69%
1.09%
22
22
20
Health Care and Social Assistance
1.42%
1.79%
3.75%
1.92%
10
10
2
2
Arts, Entertainment, and Recreation
2.28%
13.84%
26.81%
11.40%
17
17
11
11
Accommodation and Food Services
-0.19%
-5.56%
-1.24%
4.57%
21
21
4
4
Other Services
-1.16%
-3.06%
0.63%
3.81%
19
20
6
7
Federal Government
10.23%
0.25%
4.10%
3.84%
4
4
18
19
0.00%
1.32%
-9.07%
-10.25%
1
1
7
8
State Government
Local Government
-0.15%
0.39%
3.95%
3.54%
5
6
1
1
Unclassified
-4.83%
-6.84%
-0.87%
6.41%
20
18
22
22
Total, All Industries
1.25%
0.59%
2.77%
2.16%
NM
NM
NM
NM
Total, All Private
1.10%
0.61%
4.20%
3.57%
NM
NM
NM
NM
Total, All Government
3.78%
0.00%
0.12%
0.11%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
102
Sullivan County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Mining
Construction
2003
2004
18
2005
16
2006
15
2007
16
Growth
15
-3.58%
9
9
7
8
10
0.93%
230
243
260
261
272
4.15%
Manufacturing
58
57
55
54
54
-1.95%
Wholesale Trade
77
78
76
77
77
-0.13%
279
284
293
293
299
1.71%
p
g
Transportation
and Warehousing
42
45
44
40
41
-1.65%
Information
34
33
36
34
36
1.45%
Finance and Insurance
85
89
87
88
96
2.35%
Real Estate and Rental and Leasing
121
133
134
130
128
0.90%
Professional and Technical Services
143
150
150
156
159
2.55%
4
4
5
7
7
18.28%
Administrative and Waste Services
77
82
84
88
92
4.36%
Educational Services
21
20
19
20
19
-1.98%
188
184
186
191
198
1.42%
Retail Trade
Management of Companies and Enterprises
Health Care and Social Assistance
Arts, Entertainment, and Recreation
47
47
47
50
51
2.28%
Accommodation and Food Services
267
268
267
271
263
-0.19%
Other Services
182
187
179
174
178
-1.16%
37
39
39
38
61
10.23%
9
9
9
9
9
0.00%
Federal Government
State Government
Local Government
66
66
65
65
66
-0.15%
Unclassified
85
104
92
102
67
-4.83%
Total, All Industries
2,080
2,149
2,153
2,174
2,201
1.25%
Total, All Private
1,968
2,035
2,040
2,062
2,065
1.10%
112
114
113
112
136
3.78%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
103
Sullivan County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
285
305
305
307
313
1.96%
Mining
100
106
100
132
142
9.64%
Construction
910
1,025
1,183
1,196
1,107
5.61%
Manufacturing
971
1,057
1,119
1,232
1,349
8.45%
Wholesale Trade
Retail Trade
661
659
673
642
658
-0.35%
3,376
3,358
3,322
3,224
3,236
-1.25%
-1.56%
Transportation and Warehousing
544
554
551
526
516
Information
230
228
236
228
224
-0.53%
Finance and Insurance
977
933
912
897
907
-1.86%
Real Estate and Rental and Leasing
448
430
421
442
445
0.14%
Professional and Technical Services
530
536
563
587
560
2.03%
Management of Companies and Enterprises
219
214
218
249
268
5.71%
Administrative and Waste Services
380
434
496
541
599
11.97%
-1.76%
Educational Services
184
179
171
191
163
4,449
4,349
4,317
4,399
4,834
1.79%
Arts, Entertainment, and Recreation
332
578
619
626
610
13.84%
Accommodation and Food Services
2,925
2,957
2,950
2,527
2,377
-5.56%
Other Services
1,339
1,331
1,250
1,181
1,217
-3.06%
0.25%
Health Care and Social Assistance
Federal Government
228
221
217
217
233
State Government
1,130
1,128
1,128
1,175
1,182
1.32%
Local Government
4,797
4,800
4,833
4,875
4,854
0.39%
92
95
75
103
62
-6.84%
Total, All Industries
Unclassified
25,209
25,583
25,768
25,602
25,958
0.59%
Total, All Private
19,054
19,434
19,590
19,335
19,689
0.61%
6,155
6,149
6,178
6,267
6,098
0.00%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
104
Sullivan County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
$21,612
$23,932
$26,382
$28,816
$28,794
7.89%
Mining
$42,338
$46,418
$50,363
$49,349
$45,221
1.95%
Construction
$30,520
$35,338
$36,489
$36,366
$35,982
3.64%
Manufacturing
$26,460
$28,211
$27,285
$29,006
$28,485
1.77%
Wholesale Trade
$31,648
$32,553
$34,191
$36,881
$36,905
4.42%
Retail Trade
$21,321
$21,985
$22,558
$22,968
$24,202
3.02%
p
g
Transportation
and Warehousing
,
$24,636
,
$24,774
,
$24,445
,
$25,054
,
$24,982
0.39%
Information
$44,362
$47,391
$36,398
$36,982
$39,698
-4.59%
Finance and Insurance
$43,022
$49,484
$51,339
$56,228
$55,658
6.64%
Real Estate and Rental and Leasing
$18,118
$19,577
$20,747
$19,953
$20,612
2.81%
Professional and Technical Services
$27,190
$28,305
$28,396
$29,297
$28,590
1.36%
Management of Companies and Enterprises
$38,038
$39,060
$40,543
$43,100
$41,083
2.56%
Administrative and Waste Services
$22,430
$24,464
$25,363
$24,779
$24,094
1.57%
Educational Services
$14,053
$13,499
$14,978
$14,454
$14,335
1.09%
Health Care and Social Assistance
$31,639
$32,271
$32,669
$33,063
$34,381
1.92%
Arts, Entertainment, and Recreation
$14,997
$16,926
$19,336
$21,010
$23,089
11.40%
Accommodation and Food Services
$14,112
$14,425
$15,233
$16,033
$16,740
4.57%
Other Services
$16,756
$17,111
$17,672
$18,739
$19,300
3.81%
Federal Government
$38,273
$41,628
$40,673
$44,220
$44,836
3.84%
State Government
$81,565
$78,779
$75,950
$56,707
$55,970
-10.25%
Local Government
$36,536
$38,555
$40,555
$40,679
$42,333
3.54%
Unclassified
$14,986
$16,613
$16,887
$19,972
$18,648
6.41%
Total, All Industries
$30,116
$31,165
$31,912
$32,159
$32,991
2.16%
Total, All Private
$25,352
$26,456
$27,148
$28,384
$29,168
3.57%
Total, All Government
$44,867
$46,044
$47,022
$43,807
$46,259
0.11%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
105
Ulster County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
175,085
176,526
177,881
178,312
179,760
180,282
181,034
181,421
181,652
181,593
0.41%
Per capita personal income (dollars)
$23,229
$24,146
$25,555
$26,507
$26,326
$27,025
$28,667
$30,373
$32,570
$34,051
4.12%
Wage and salary disbursements ($000)
$1,550,054
$1,664,481
$1,764,006
$1,770,985
$1,828,675
$1,883,763
$1,941,150
$2,015,629
$2,224,528
$2,304,981
4.06%
Plus: Supplements to wages and salaries
$307,061
$322,593
$346,355
$354,221
$394,228
$428,255
$467,410
$510,063
$558,418
$575,986
7.77%
Employer contributions for employee pension and insurance funds
$174,943
$184,665
$200,168
$207,744
$240,429
$268,414
$302,139
$338,639
$368,629
$382,577
10.01%
Employer contributions for government social insurance
$132,118
$137,928
$146,187
$146,477
$153,799
$159,841
$165,271
$171,424
$189,789
$193,409
4.25%
$268,124
$270,297
$258,473
$244,262
$238,382
$252,736
$271,045
$295,229
$311,075
$308,637
2.01%
$259
$8,794
$2,396
$2,442
($3,505)
$2,457
$265
-$503
$900
$2,092
NM
$267,865
$261,503
$256,077
$241,820
$241,887
$250,279
$270,780
$295,732
$310,175
$306,545
2.15%
$2,125,239
$2,257,371
$2,368,834
$2,369,468
$2,461,285
$2,564,754
$2,679,605
$2,820,921
$3,094,021
$3,189,604
4.43%
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
Equals: Earnings by place of work ($000)
Less: Contributions for government social insurance
$256,024
$269,929
$282,797
$286,860
$301,242
$312,458
$323,721
$339,113
$374,946
$384,578
4.50%
Employee and self-employed contributions for government social
insurance
$123,906
$132,001
$136,610
$140,383
$147,443
$152,617
$158,450
$167,689
$185,157
$191,169
4.77%
Employer contributions for government social insurance
$132,118
$137,928
$146,187
$146,477
$153,799
$159,841
$165,271
$171,424
$189,789
$193,409
4.25%
$655,634
$725,050
$807,046
$917,782
$927,681
$965,769
$1,024,961
$1,088,723
$1,117,082
$1,172,084
6.33%
$2,524,849
$2,712,492
$2,893,083
$3,000,390
$3,087,724
$3,218,065
$3,380,845
$3,570,531
$3,836,157
$3,977,110
4.95%
Plus: Dividends, interest, and rent
$818,635
$807,406
$864,059
$875,923
$734,340
$700,580
$806,527
$904,166
$974,091
$1,038,443
2.07%
Plus: Personal current transfer receipts
$723,574
$742,412
$788,582
$850,139
$910,259
$953,401
$1,002,419
$1,035,655
$1,106,073
$1,167,807
5.61%
$4,067,058
$4,262,310
$4,545,724
$4,726,452
$4,732,323
$4,872,046
$5,189,791
$5,510,352
$5,916,321
$6,183,360
4.55%
Plus: Adjustment for residence
Equals: Net earnings by place of residence ($000)
Equals: Personal income ($000)
Source: Regional Economic Informnation System, Bureau of Economic Analysis, U.S. Department of Commerce
Complied by: Bureau of Economic Research, Marist College
106
6/22/2009
Ulster County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Growth in the
Number of Firms
(within industry)
Average
Growth inTotal
Growth in Average
Employment Growth Compensation (within Compensation per
(within Industry)
Industry)
job (within Industry)
Level Change in
Level Change in
Avg. Employ. by
Avg. Employ. by
Average Wages by
Average Wages by
Industry (2007-2003) Industry (2006-2002)
Industry (2006)
Industry (2007)
Ranked from Highest Ranked from Highest Ranked from Highest Ranked from Highest
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
(1) to Lowest (22)
Agriculture, Forestry, Fishing & Hunting
-1.96%
6.47%
11.16%
4.41%
18
21
15
15
Mining
-3.35%
3.48%
6.89%
3.30%
5
8
22
22
5.67%
3.11%
5.76%
2.57%
10
9
8
8
Manufacturing
Construction
-1.21%
-4.62%
0.29%
5.14%
8
5
5
5
Wholesale Trade
-0.84%
-1.35%
1.57%
2.96%
7
7
13
13
Retail Trade
0.14%
1.28%
3.97%
2.65%
17
17
2
2
Transportation and Warehousing
1.51%
-0.01%
2.65%
2.66%
16
15
12
12
Information
1.93%
-21.86%
-7.60%
18.25%
9
10
14
14
Finance and Insurance
0.92%
2.23%
5.96%
3.65%
4
4
10
10
Real Estate and Rental and Leasing
3.08%
5.40%
11.83%
6.10%
15
14
17
17
Professional and Technical Services
1.45%
-1.75%
2.08%
3.90%
11
11
11
11
Management of Companies and Enterprises
1.70%
29.09%
40.21%
8.62%
1
1
20
20
Administrative and Waste Services
3.61%
13.35%
21.24%
6.96%
12
12
7
7
Educational Services
4.11%
3.01%
4.11%
1.06%
20
18
16
16
Health Care and Social Assistance
2.02%
0.58%
4.22%
3.61%
13
13
3
3
Arts, Entertainment, and Recreation
4.78%
6.89%
10.07%
2.97%
21
20
18
18
Accommodation and Food Services
1.30%
-0.37%
3.74%
4.12%
22
22
4
4
Other Services
1.40%
-0.38%
4.69%
5.09%
19
19
9
9
Federal Government
7.75%
-1.32%
3.12%
4.50%
2
2
19
19
State Government
0.00%
-1.75%
5.20%
7.08%
3
3
6
6
Local Government
0.10%
0.61%
10.93%
10.25%
6
6
1
1
Unclassified
1.03%
-7.24%
3.17%
11.22%
14
16
21
21
Total, All Industries
1.84%
0.17%
5.80%
5.62%
NM
NM
NM
NM
Total, All Private
1.81%
0.27%
4.65%
4.37%
NM
NM
NM
NM
Total, All Government
2.61%
-0.16%
8.66%
8.83%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
107
Ulster County
Number of Reporting Units by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
68
68
64
65
63
-1.96%
Mining
12
13
13
11
11
-3.35%
535
571
604
651
660
5.67%
Construction
Manufacturing
220
215
206
207
211
-1.21%
Wholesale Trade
157
154
157
149
153
-0.84%
Retail Trade
730
749
726
727
746
0.14%
Transportation and Warehousing
109
111
110
110
118
1.51%
92
87
87
91
99
1.93%
Information
Finance and Insurance
214
221
222
225
222
0.92%
Real Estate and Rental and Leasing
187
191
198
209
208
3.08%
Professional and Technical Services
404
415
423
425
429
1.45%
17
18
20
19
18
1.70%
188
191
197
197
221
3.61%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
55
56
58
60
65
4.11%
438
443
461
460
475
2.02%
4.78%
Arts, Entertainment, and Recreation
123
128
134
141
148
Accommodation and Food Services
449
466
468
468
478
1.30%
Other Services
396
409
403
412
423
1.40%
Federal Government
48
47
47
48
69
7.75%
State Government
15
15
15
15
15
0.00%
Local Government
98
96
97
97
98
0.10%
Unclassified
172
199
222
231
168
1.03%
Total, All Industries
4,732
4,866
4,936
5,024
5,102
1.84%
Total, All Private
4,571
4,708
4,777
4,864
4,920
1.81%
161
158
159
160
182
2.61%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
108
Ulster County
Average Employment by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
Growth
Agriculture, Forestry, Fishing & Hunting
695
921
914
967
928
6.47%
Mining
123
139
144
160
136
3.48%
Construction
2,384
2,527
2,526
2,761
2,658
3.11%
Manufacturing
5,190
4,673
4,433
4,348
4,248
-4.62%
-1.35%
Wholesale Trade
1,375
1,358
1,278
1,271
1,328
Retail Trade
8,841
9,128
9,239
9,260
9,353
1.28%
Transportation and Warehousing
1,470
1,437
1,425
1,440
1,468
-0.01%
-21.86%
Information
2,691
1,863
1,700
1,113
1,014
Finance and Insurance
1,874
1,981
2,020
2,084
2,040
2.23%
Real Estate and Rental and Leasing
625
670
720
747
770
5.40%
Professional and Technical Services
1,659
1,707
1,690
1,588
1,575
-1.75%
152
274
469
461
420
29.09%
2,199
2,166
2,448
3,245
3,362
13.35%
719
688
714
763
792
3.01%
8,280
8,275
8,210
8,328
8,497
0.58%
Arts, Entertainment, and Recreation
582
636
652
724
761
6.89%
Accommodation and Food Services
6,280
6,209
6,182
6,140
6,199
-0.37%
Other Services
2,143
2,234
2,228
2,178
2,129
-0.38%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
Federal Government
495
491
480
479
469
-1.32%
State Government
4,371
4,351
4,134
4,091
4,126
-1.75%
Local Government
9,391
9,570
9,638
9,666
9,635
0.61%
248
240
205
279
158
-7.24%
Total, All Industries
Unclassified
62,026
61,779
61,678
62,313
62,281
0.17%
Total, All Private
47,769
47,367
47,426
48,077
48,051
0.27%
Total, All Government
14,257
14,412
14,252
14,236
14,230
-0.16%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
109
Ulster County
Average Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
2003
2004
2005
2006
2007
$21,226
Growth
Agriculture, Forestry, Fishing & Hunting
$19,942
$20,443
$21,091
$24,282
4.41%
Mining
$40,723
$38,815
$40,845
$41,828
$46,135
3.30%
Construction
$34,336
$35,215
$36,262
$36,694
$38,195
2.57%
Manufacturing
$36,330
$38,472
$39,979
$43,206
$44,046
5.14%
Wholesale Trade
$38,540
$42,105
$42,426
$42,573
$44,350
2.96%
Retail Trade
$22,436
$23,292
$23,282
$24,233
$25,074
2.65%
p
g
Transportation
and Warehousing
,
$26,082
,
$25,432
,
$26,126
,
$27,865
,
$28,411
2.66%
Information
$19,884
$25,716
$27,293
$36,517
$38,585
18.25%
Finance and Insurance
$42,698
$44,634
$45,264
$47,696
$49,402
3.65%
Real Estate and Rental and Leasing
$24,918
$27,480
$28,830
$30,775
$31,662
6.10%
3.90%
Professional and Technical Services
$31,497
$32,007
$32,579
$34,991
$36,467
Management of Companies and Enterprises
$40,192
$42,578
$47,552
$51,008
$55,523
8.62%
Administrative and Waste Services
$26,589
$31,025
$33,372
$33,944
$35,589
6.96%
Educational Services
$22,041
$23,836
$24,060
$23,846
$23,235
1.06%
Health Care and Social Assistance
$29,750
$30,659
$31,711
$33,211
$34,135
3.61%
Arts, Entertainment, and Recreation
$18,969
$20,214
$21,117
$21,730
$21,183
2.97%
Accommodation and Food Services
$13,702
$14,316
$14,447
$15,568
$16,081
4.12%
Other Services
$19,906
$20,565
$21,539
$22,890
$24,183
5.09%
Federal Government
$43,044
$46,001
$47,012
$50,096
$51,400
4.50%
State Government
$40,251
$40,014
$41,881
$49,532
$50,926
7.08%
Local Government
$32,102
$30,997
$35,321
$42,582
$44,621
10.25%
Unclassified
$22,281
$19,324
$24,613
$24,857
$33,429
11.22%
Total, All Industries
$28,515
$29,476
$30,894
$33,797
$35,001
5.62%
Total, All Private
$26,586
$28,030
$28,873
$30,529
$31,545
4.37%
Total, All Government
$34,980
$34,230
$37,618
$44,832
$46,672
8.83%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
110
Westchester County Total Personal Income (TPI)
1998-2007
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Growth
Population (persons)
911,628
918,532
925,671
935,039
941,371
944,088
946,870
947,719
947,199
949,569
0.45%
Per capita personal income (dollars)
$49,425
$52,171
$55,087
$56,034
$54,600
$55,105
$59,845
$64,687
$70,530
$74,878
4.24%
Wage and salary disbursements ($000)
$17,130,473
$18,314,105
$19,764,558
$20,978,179
$20,976,383
$21,544,487
$23,261,771
$24,173,894
$25,559,086
$27,473,607
4.92%
Plus: Supplements to wages and salaries
$3,134,508
$3,289,097
$3,564,866
$3,828,681
$4,188,971
$4,492,570
$4,962,314
$5,322,910
$5,524,603
$5,773,448
7.53%
Employer contributions for employee pension and insurance funds
$1,805,250
$1,904,552
$2,083,890
$2,242,936
$2,549,118
$2,779,479
$3,143,036
$3,456,527
$3,571,836
$3,743,414
9.25%
Employer contributions for government social insurance
$1,329,258
$1,384,545
$1,480,976
$1,585,745
$1,639,853
$1,713,091
$1,819,278
$1,866,383
$1,952,767
$2,030,034
4.86%
$4,199,915
$4,679,671
$3,935,469
$4,517,444
$4,600,835
$4,526,830
$5,159,381
$5,448,940
$5,985,023
$5,911,230
4.21%
$1,046
$2,097
$769
$679
$1,617
$930
$604
$705
$792
$630
-7.42%
$4,198,869
$4,677,574
$3,934,700
$4,516,765
$4,599,218
$4,525,900
$5,158,777
$5,448,235
$5,984,231
$5,910,600
4.21%
Equals: Earnings by place of work ($000)
$24,464,896
$26,282,873
$27,264,893
$29,324,304
$29,766,189
$30,563,887
$33,383,466
$34,945,744
$37,068,712
$39,158,285
5.16%
Less: Contributions for government social insurance
Plus: Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
$2,621,624
$2,767,904
$2,912,446
$3,142,405
$3,246,994
$3,360,379
$3,599,618
$3,718,291
$3,906,230
$4,083,866
5.01%
Employee and self-employed contributions for government social
insurance
$1,292,366
$1,383,359
$1,431,470
$1,556,660
$1,607,141
$1,647,288
$1,780,340
$1,851,908
$1,953,463
$2,053,832
5.16%
Employer contributions for government social insurance
$1,329,258
$1,384,545
$1,480,976
$1,585,745
$1,639,853
$1,713,091
$1,819,278
$1,866,383
$1,952,767
$2,030,034
4.86%
Plus: Adjustment for residence
$8,803,994
$9,499,029
$10,909,692
$10,341,647
$9,396,450
$9,119,437
$9,728,264
$10,442,079
$11,314,546
$11,935,477
2.16%
Equals: Net earnings by place of residence ($000)
$30,647,266
$33,013,998
$35,262,139
$36,523,546
$35,915,645
$36,322,945
$39,512,112
$41,669,532
$44,477,028
$47,009,896
4.35%
Plus: Dividends, interest, and rent
$10,132,676
$10,540,628
$11,127,190
$10,945,605
$10,199,293
$10,206,046
$11,239,216
$13,799,703
$16,139,737
$17,581,756
5.67%
Plus: Personal current transfer receipts
$4,276,872
$4,366,131
$4,603,009
$4,925,243
$5,283,963
$5,494,976
$5,913,828
$5,835,568
$6,189,385
$6,510,214
4.97%
Equals: Personal income ($000)
$45,056,814
$47,920,757
$50,992,338
$52,394,394
$51,398,901
$52,023,967
$56,665,156
$61,304,803
$66,806,150
$71,101,866
4.71%
Source: Regional Economic Information System, Bureau of Economic Analysis, US Department of Commerce
Compiled by Bureau of Economic Research, Marist College 6/22/2009
111
Westchester County
Summary Statistics for Firms, Employment, and Wages by Three Digit NACIS
Years 2003-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
Growth in the Number Growth in Average
of Firms (within
Employment (within
industry)
Industry)
Level Change in Avg. Level Change in Avg.
Average Wages by
Average Wages by
Employ. by Industry Employ. by Industry
Growth inTotal
Growth in Average
Industry (2007)
Industry (2006)
(2007-2003) Ranked (2006-2002) Ranked
Compensation (within Compensation per job Ranked from Highest Ranked from Highest from Highest (1) to
from Highest (1) to
Industry)
(within Industry)
(1) to Lowest (21)
(1) to Lowest (22)
Lowest (21)
Lowest (22)
0.74%
1.59%
4.39%
2.75%
16
18
21
22
Mining
NA
NA
NA
NA
NA
NA
NA
NA
Utilities
NA
NA
NA
NA
NA
3
NA
20
2.71%
3.02%
5.98%
2.87%
7
10
4
4
Manufacturing
Construction
-0.85%
-2.27%
1.53%
3.89%
3
4
10
10
Wholesale Trade
-0.50%
-0.32%
3.35%
3.68%
5
6
11
11
Retail Trade
-0.16%
1.40%
3.13%
1.70%
19
20
3
3
Transportation and Warehousing
1.69%
2.59%
13.17%
10.31%
12
13
14
14
-1.67%
-2.87%
0.07%
3.02%
6
7
13
13
Finance and Insurance
2.56%
4.19%
14.11%
9.52%
2
2
8
6
Real Estate and Rental and Leasing
2.65%
1.04%
6.16%
5.07%
8
11
16
15
Professional and Technical Services
1.10%
-0.01%
4.99%
5.00%
4
5
5
5
Management of Companies and Enterprises
7.02%
5.39%
16.89%
10.92%
1
1
15
16
Administrative and Waste Services
2.94%
-1.06%
4.77%
5.90%
17
17
7
8
Educational Services
2.93%
2.36%
4.94%
2.52%
14
15
12
12
Information
NA
NA
NA
NA
13
14
1
1
Arts, Entertainment, and Recreation
Health Care and Social Assistance
2.61%
-2.26%
2.93%
5.31%
18
19
17
17
Accommodation and Food Services
1.88%
1.16%
5.43%
4.22%
21
22
6
7
Other Services
0.75%
2.04%
6.09%
3.97%
20
21
9
9
Federal Government
3.21%
-2.34%
0.84%
3.26%
10
8
19
19
State Government
3.40%
1.11%
2.16%
1.04%
11
12
18
18
Local Government
-0.09%
0.20%
5.81%
5.60%
9
9
2
2
Unclassified
-2.22%
-4.03%
0.39%
4.61%
15
16
20
21
Total, All Industries
1.22%
0.93%
6.28%
5.30%
NM
NM
NM
NM
Total, All Private
1.23%
1.09%
6.51%
5.36%
NM
NM
NM
NM
Total, All Government
0.83%
0.08%
5.06%
4.97%
NM
NM
NM
NM
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
112
Westchester County
Number of Reporting Units by Three Digit NACIS
Years 2002-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
2003
2004
67
2005
66
2006
62
2007
67
Growth
69
0.74%
Mining
0
0
0
0
0
NA
Utilities
13
17
16
16
0
NA
3,304
3,379
3,416
3,594
3,662
2.71%
764
747
737
737
737
-0.85%
Wholesale Trade
1,797
1,804
1,787
1,761
1,774
-0.50%
Retail Trade
-0.16%
Construction
Manufacturing
3,907
3,914
3,881
3,855
3,905
Transportation and Warehousing
530
537
545
551
569
1.69%
Information
715
698
664
670
671
-1.67%
1,826
1,862
1,929
1,965
2,017
2.56%
Finance and Insurance
Real Estate and Rental and Leasing
2,171
2,231
2,307
2,341
2,416
2.65%
Professional and Technical Services
4,187
4,157
4,228
4,263
4,368
1.10%
Management of Companies and Enterprises
Administrative and Waste Services
Educational Services
Health Care and Social Assistance
171
188
205
216
224
7.02%
1,749
1,807
1,859
1,853
1,996
2.94%
467
472
485
493
528
2.93%
3,055
0
3,159
3,194
3,279
NA
Arts, Entertainment, and Recreation
573
595
625
621
638
2.61%
Accommodation and Food Services
1,808
1,870
1,856
1,892
1,973
1.88%
Other Services
5,176
5,236
5,272
5,314
5,334
0.75%
90
91
89
90
106
3.21%
Federal Government
State Government
25
26
26
27
29
3.40%
Local Government
324
319
321
322
321
-0.09%
1,522
1,556
1,811
1,875
1,239
-2.22%
Total, All Industries
Unclassified
34,242
34,714
35,277
35,719
35,868
1.22%
Total, All Private
33,803
34,278
34,841
35,280
35,412
1.23%
439
436
436
439
456
0.83%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
113
Westchester County
Average Employment by Three Digit NACIS
Years 2002-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
2003
2004
398
2005
374
2006
371
2007
Growth
399
417
1.59%
NA
Mining
0
0
0
0
0
Utilities
3,329
3,141
3,109
3,093
0
NA
24,412
24,120
24,709
25,669
27,456
3.02%
Construction
Manufacturing
20,025
19,393
18,957
18,413
18,318
-2.27%
Wholesale Trade
16,953
16,903
17,038
16,525
16,875
-0.32%
Retail Trade
46,907
47,880
48,321
48,608
49,914
1.40%
9 972
9,972
10 397
10,397
11 488
11,488
11 531
11,531
10 758
10,758
2 59%
2.59%
Information
14,037
13,443
13,253
13,024
12,330
-2.87%
Finance and Insurance
Transportation and Warehousing
18,073
19,062
20,730
21,622
20,837
4.19%
Real Estate and Rental and Leasing
9,316
9,564
9,850
9,701
9,739
1.04%
Professional and Technical Services
24,550
24,299
23,840
24,146
24,613
-0.01%
7,809
8,964
9,175
9,262
9,986
5.39%
21,088
23,240
22,108
20,671
21,197
-1.06%
Educational Services
13,160
13,552
13,860
14,048
14,522
2.36%
Health Care and Social Assistance
58,223
0
59,925
60,579
63,201
NA
Management of Companies and Enterprises
Administrative and Waste Services
Arts, Entertainment, and Recreation
9,272
9,875
8,044
8,320
9,011
-2.26%
Accommodation and Food Services
21,122
21,634
21,748
21,559
22,419
1.16%
Other Services
18,416
18,818
19,181
19,560
19,987
2.04%
5,415
5,253
5,159
5,102
4,880
-2.34%
Federal Government
State Government
6,159
6,358
6,230
6,497
6,439
1.11%
Local Government
52,399
52,302
51,904
51,728
53,207
0.20%
-4.03%
1,907
1,722
1,829
2,155
1,388
Total, All Industries
Unclassified
402,946
409,450
410,833
412,220
420,658
0.93%
Total, All Private
338,973
345,537
347,540
348,893
356,132
1.09%
63,973
63,913
63,293
63,327
64,526
0.08%
Total, All Government
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
114
Westchester County
Average Wages by Three Digit NACIS
Years 2002-2007
Industry by Three Digit NACIS
Agriculture, Forestry, Fishing & Hunting
2003
2004
2005
2006
2007
Growth
$33,903
$37,522
$38,457
$37,236
$38,980
2.75%
Mining
$0
$0
$0
$0
$0
NA
Utilities
$93,523
$105,924
$99,762
$99,595
$0
NA
Construction
$54,676
$55,750
$55,618
$58,701
$61,386
2.87%
Manufacturing
$80,427
$85,428
$87,972
$93,561
$93,030
3.89%
Wholesale Trade
$69,090
$83,711
$76,451
$80,512
$84,408
3.68%
Retail Trade
$29,628
$29,322
$29,766
$30,611
$31,553
1.70%
Transportation and Warehousing
$32 086
$32,086
$36 898
$36,898
$41 956
$41,956
$45 376
$45,376
$47 269
$47,269
10 31%
10.31%
Information
$73,342
$72,669
$75,276
$78,867
$81,705
3.02%
Finance and Insurance
$88,680
$95,249
$100,347
$111,651
$129,035
9.52%
Real Estate and Rental and Leasing
$49,351
$54,579
$53,542
$58,123
$61,252
5.07%
Professional and Technical Services
Management of Companies and Enterprises
$73,753
$76,352
$83,158
$84,862
$89,276
5.00%
$156,736
$194,428
$194,069
$209,299
$253,606
10.92%
Administrative and Waste Services
$31,253
$32,383
$43,244
$37,291
$38,782
5.90%
Educational Services
$39,097
$41,534
$41,147
$43,036
$43,506
2.52%
Health Care and Social Assistance
$39,360
$0
$43,222
$45,009
$46,371
NA
Arts, Entertainment, and Recreation
$27,741
$27,668
$30,560
$31,966
$33,427
5.31%
Accommodation and Food Services
$19,028
$19,706
$20,393
$21,701
$22,297
4.22%
Other Services
$25,560
$26,105
$27,232
$28,674
$29,626
3.97%
Federal Government
$51,333
$55,951
$56,149
$60,353
$58,031
3.26%
State Government
$49,812
$49,894
$50,838
$51,118
$51,816
1.04%
Local Government
$49,543
$52,624
$55,965
$60,089
$60,881
5.60%
Unclassified
$35,471
$33,433
$33,518
$41,598
$39,828
4.61%
Total, All Industries
$49,937
$53,303
$55,646
$58,523
$61,708
5.30%
Total, All Private
$49,978
$53,428
$55,678
$58,402
$62,061
5.36%
Total, All Government
$49,721
$52,626
$55,475
$59,190
$59,761
4.97%
Data Source: NYS Department of Labor QCEW Series
Compiled by Marist College Bureau of Economic Research
6/24/2009
115
Total Income Maintenance Benefits
Annual: Monthly Average
Counties
2008
2007
2006
2005
2004
Columbia
$1,346,505
$1,210,551
$1,151,993
$1,155,570
$1,092,486
Dutchess
$4,801,867
$4,394,956
$4,132,884
$3,953,620
$3,697,104
Greene
$1,228,366
$1,104,341
$1,070,520
$1,053,224
$992,130
Orange
$7,871,024
$7,082,456
$6,570,537
$6,522,531
$6,311,445
Putnam
$563,180
$536,058
$527,427
$518,072
$493,008
Rockland
$5,651,949
$5,081,955
$4,774,392
$4,487,391
$4,185,748
Sullivan
$2,577,840
$2,356,722
$2,288,596
$2,113,196
$2,003,474
Ulster
$4,137,549
$3,652,213
$3,476,840
$3,274,569
$3,092,776
Westchester
$20,100,279
$18,494,766
$17,574,154
$17,271,742
$17,853,885
Hudson Valley Total
$48,278,559
$43,914,018
$41,557,340
$40,349,916
$39,699,236
New York City
$483,951,624
$446,737,688
$438,033,856
$422,255,558
$406,860,304
New York State
$747,283,134
$688,151,210
$669,290,316
$647,423,962
$624,765,911
Annual Percentage Change: Monthly Average
Counties
2008
2007
2006
2005
2004
Columbia
11.23%
5.08%
-0.31%
5.77%
7.20%
Dutchess
9.26%
6.34%
4.53%
6.94%
8.90%
Greene
11.23%
3.16%
1.64%
6.16%
13.20%
Orange
11.13%
7.79%
0.74%
3.34%
5.80%
Putnam
5.06%
1.64%
1.81%
5.08%
4.20%
11.22%
6.44%
6.40%
7.21%
3.40%
9.38%
2.98%
8.30%
5.48%
10.70%
13.29%
5.04%
6.18%
5.88%
7.10%
Westchester
8.68%
5.24%
12.35%
10.30%
6.10%
Hudson Valley Total
9.94%
5.67%
2.99%
1.64%
6.50%
New York City
8.33%
1.99%
3.74%
3.78%
2.10%
New York State
8.59%
2.82%
3.38%
3.63%
0.00%
Rockland
Sullivan
Ulster
Source: New York State Office of Temporary and Disability Assistance
Compiled by Marist College Bureau of Business and Economic Research, Marist College
116
6/22/2009
Food Stamps - Expenditures
Annual: Monthy Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
$333,953
$279,238
$271,369
$279,731
$253,759
$231,816
Dutchess
$1,360,741
$1,109,332
$1,005,837
$921,553
$766,541
$620,346
Greene
$379,396
$312,681
$299,596
$296,391
$277,808
$249,595
Orange
$2,782,471
$2,365,777
$2,201,482
$2,090,600
$1,918,185
$1,832,239
Putnam
$97,408
$84,331
$81,581
$70,811
$64,206
$55,237
$2,543,112
$2,138,955
$1,984,423
$1,828,164
$1,572,947
$1,438,235
$717,501
$605,950
$565,199
$521,859
$449,937
$392,239
Ulster
$1,135,819
$916,154
$832,975
$722,271
$629,456
$582,959
Westchester
$4,912,527
$4,140,521
$3,910,993
$3,803,788
$3,385,590
$3,069,341
$14,262,929
$11,952,938
$11,153,455
$10,535,167
$9,318,428
$8,472,007
New York City
$152,608,035
$129,146,805
$128,674,463
$119,248,814
$107,362,677
$94,857,515
New York State
$233,474,925
$198,332,627
$184,617,184
$182,366,739
$163,776,695
$145,168,998
Rockland
Sullivan
Hudson Valley Total
Annual Percentage Change: Monthy Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
19.59%
2.90%
-2.99%
10.24%
9.47%
16.03%
Dutchess
22.66%
10.29%
9.15%
20.22%
23.57%
20.78%
Greene
21.34%
4.37%
1.08%
6.69%
11.30%
15.35%
Orange
17.61%
7.46%
5.30%
8.99%
4.69%
10.51%
Putnam
15.51%
3.37%
15.21%
10.29%
16.24%
15.48%
Rockland
18.90%
7.79%
8.55%
16.23%
9.37%
11.33%
Sullivan
18.41%
7.21%
8.30%
15.98%
14.71%
16.39%
Ulster
23.98%
9.99%
15.33%
14.75%
7.98%
17.25%
Westchester
18.65%
5.87%
2.82%
12.35%
10.30%
12.19%
Hudson Valley Total
19.33%
7.17%
5.87%
13.06%
9.99%
13.00%
New York City
18.17%
0.37%
7.90%
11.07%
13.18%
13.88%
New York State
17.72%
7.43%
1.23%
11.35%
12.82%
14.55%
Source: New York State Office of Temporary Disability Assistance
Compiled by Marist College Bureau of Business and Economic Research, Marist College
117
6/22/2009
Food Stamps - Recipients
Annual: Monthy Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
3,223
3,041
3,033
3,121
2,982
2,721
Dutchess
12,552
11,153
10,582
10,111
8,772
7,353
Greene
3,655
3,274
3,275
3,250
3,125
2,922
Orange
25,348
23,144
22,261
21,807
20,733
19,863
Putnam
1,047
993
933
929
866
806
23,767
21,732
20,864
19,680
17,828
16,630
7,154
6,702
6,449
6,067
5,553
5,032
Ulster
10,792
9,580
9,121
8,416
7,733
7,269
Westchester
44,402
40,459
39,640
39,745
36,733
33,949
131,939
120,077
116,157
113,126
104,324
96,545
New York City
1,259,756
1,105,981
1,092,542
1,084,739
1,006,928
884,909
New York State
2,029,589
1,813,683
1,789,666
1,767,780
1,646,075
1,469,563
Rockland
Sullivan
Hudson Valley Total
Annual Percentage Change: Monthy Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
5.97%
0.26%
-2.82%
4.65%
9.59%
7.87%
Dutchess
12.54%
5.39%
4.66%
15.26%
19.31%
13.51%
Greene
11.63%
-0.02%
0.77%
4.00%
6.94%
9.75%
Orange
9.52%
3.97%
2.08%
5.18%
4.38%
5.41%
Putnam
5.45%
6.39%
0.43%
7.33%
7.38%
13.04%
Rockland
9.36%
4.16%
6.02%
10.39%
7.20%
6.67%
Sullivan
6.74%
3.92%
6.30%
9.27%
10.35%
11.48%
12.66%
5.03%
8.38%
8.83%
6.39%
10.65%
Westchester
9.75%
2.07%
-0.26%
8.20%
8.20%
6.76%
Hudson Valley Total
9.88%
3.38%
2.68%
8.44%
8.06%
7.64%
New York City
13.90%
1.23%
0.72%
7.73%
13.79%
7.70%
New York State
11.90%
1.34%
1.24%
7.39%
12.01%
8.42%
Ulster
Source: New York State Office of Temporary Disability Assistance
Compiled by Marist College Bureau of Business and Economic Research, Marist College
118
6/22/2009
Total Temporary Assistance - Expenditures
Annual: Monthly Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
$241,271
$201,363
$178,261
$193,047
$188,473
$168,530
Dutchess
$953,495
$968,141
$916,686
$949,048
$921,589
$840,599
Greene
$221,762
$195,180
$199,767
$220,340
$209,167
$199,805
Orange
$1,937,979
$1,699,301
$1,519,445
$1,705,412
$1,745,647
$1,635,837
Putnam
$68,099
$70,528
$74,802
$85,965
$73,661
$88,099
Rockland
$754,763
$688,441
$651,747
$662,113
$661,481
$620,265
Sullivan
$562,276
$490,463
$452,837
$432,479
$417,362
$372,086
Ulster
$876,406
$726,138
$748,890
$684,837
$663,898
$711,952
$6,978,011
$6,359,082
$6,113,819
$6,353,062
$7,569,137
$7,739,408
Hudson Valley
$12,594,062
$11,398,637
$10,856,252
$11,286,301
$12,427,596
$12,376,581
New York City
$107,700,833
$100,027,333
$99,119,833
$101,521,500
$101,819,583
$93,519,583
New York State
$161,826,974
$151,274,557
$155,468,765
$154,261,676
$156,739,338
$145,078,963
Westchester
Annual Percentage Change: Monthly Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
19.8%
13.0%
-7.7%
2.4%
11.8%
6.6%
Dutchess
-1.5%
5.6%
-3.4%
3.0%
9.6%
12.5%
Greene
13.6%
-2.3%
-9.3%
5.3%
4.7%
9.4%
Orange
14.0%
11.8%
-10.9%
-2.3%
6.7%
5.8%
Putnam
-3.4%
-5.7%
-13.0%
16.7%
-16.4%
-4.9%
9.6%
5.6%
-1.6%
0.1%
6.6%
-3.4%
Sullivan
14.6%
8.3%
4.7%
3.6%
12.2%
22.0%
Ulster
20.7%
-3.0%
9.4%
3.2%
-6.7%
7.5%
9.7%
4.0%
-3.8%
-16.1%
-2.2%
5.8%
Hudson Valley
10.5%
5.0%
-3.8%
-9.2%
0.4%
6.2%
New York City
7.7%
0.9%
-2.4%
-0.3%
8.9%
-7.7%
New York State
7.0%
-2.7%
0.8%
-1.6%
8.0%
3.2%
Rockland
Westchester
Source: New York State Office of Temporary and Disability Assistance
Compiled by Marist College Bureau of Business and Economic Research, Marist119
College
6/22/2009
Total Temporary Assistance - Recipients
Annual: Monthly Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
681
619
595
664
687
664
Dutchess
2,198
2,188
2,345
2,459
2,464
2,312
Greene
795
740
815
923
899
828
Orange
4,888
4,656
4,643
5,032
5,304
5,656
Putnam
125
145
158
163
191
196
Rockland
2,374
2,289
2,313
2,478
2,525
2,587
Sullivan
1,514
1,535
1,596
1,560
1,477
1,390
Ulster
2,289
2,297
2,406
2,337
2,289
2,511
Westchester
12,904
13,121
13,935
15,112
17,030
18,010
Hudson Valley
27,766
27,589
28,795
30,717
32,808
34,152
New York City
340,141
359,425
391,895
416,012
433,928
423,945
New York State
510,160
530,912
572,152
604,922
629,062
612,423
Annual Percentage Change: Monthly Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
10.1%
3.9%
-10.4%
-3.4%
3.6%
-1.7%
Dutchess
0.5%
-6.7%
-4.6%
-0.2%
6.6%
-1.5%
Greene
7.5%
-9.3%
-11.6%
2.6%
8.6%
1.7%
Orange
5.0%
0.3%
-7.7%
-5.1%
-6.2%
-5.7%
Putnam
-13.8%
-8.3%
-3.5%
-14.7%
-2.3%
-9.0%
3.7%
-1.0%
-6.6%
-1.9%
-2.4%
-9.3%
Sullivan
-1.4%
-3.8%
2.3%
5.6%
6.2%
10.1%
Ulster
-0.4%
-4.5%
2.9%
2.1%
-8.8%
-0.8%
Westchester
-1.7%
-5.8%
-7.8%
-11.3%
-5.4%
1.9%
Hudson Valley
0.6%
-4.2%
-6.3%
-6.4%
-3.9%
-0.5%
New York City
-5.4%
-8.3%
-5.8%
-4.1%
2.4%
-1.9%
New York State
-3.9%
-7.2%
-5.4%
-3.8%
2.7%
-1.2%
Rockland
Source: New York State Office of Temporary and Disability Assistance
Compiled by Marist College Bureau of Business and Economic Research, Marist120
College
6/22/2009
Supplemental Security Income- Expenditures
Annual: Monthly Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
$771,281
$729,950
$702,363
$682,793
$650,254
$611,363
Dutchess
$2,487,631
$2,317,483
$2,210,361
$2,083,020
$2,008,974
$1,831,467
Greene
$627,208
$596,481
$571,157
$536,494
$505,155
$475,090
Orange
$3,150,575
$3,017,378
$2,849,610
$2,726,519
$2,647,612
$2,513,063
Putnam
$397,673
$381,199
$371,044
$361,296
$355,141
$322,794
Rockland
$2,354,074
$2,254,559
$2,138,222
$1,997,114
$1,951,320
$1,837,430
Sullivan
$1,298,063
$1,260,309
$1,270,560
$1,158,859
$1,136,175
$1,085,281
Ulster
$2,125,324
$2,009,921
$1,894,975
$1,867,461
$1,799,423
$1,686,251
Westchester
$8,209,741
$7,995,163
$7,549,342
$7,114,892
$6,899,158
$6,458,815
Hudson Valley
$21,421,569
$20,562,444
$19,547,633
$18,528,448
$17,953,212
$16,821,554
New York City
$223,642,756
$217,563,550
$210,239,560
$201,485,244
$197,678,044
$187,727,833
New York State
$351,981,235
$338,544,025
$329,204,367
$310,795,547
$304,249,878
$286,031,132
Annual Percentage Change: Monthy Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
5.66%
3.93%
2.87%
5.00%
6.36%
4.26%
Dutchess
7.34%
4.85%
6.11%
3.69%
9.69%
3.85%
Greene
5.15%
4.43%
6.46%
6.20%
6.33%
13.80%
Orange
4.41%
5.89%
4.51%
2.98%
5.35%
2.64%
Putnam
4.32%
2.74%
2.70%
1.73%
10.02%
5.27%
Rockland
4.41%
5.44%
7.07%
2.35%
6.20%
0.19%
Sullivan
3.00%
-0.81%
9.64%
2.00%
4.69%
5.52%
Ulster
5.74%
6.07%
1.47%
3.78%
6.71%
3.81%
Westchester
2.68%
5.91%
6.11%
3.13%
6.82%
3.86%
Hudson Valley
4.18%
5.19%
5.50%
3.20%
6.73%
3.74%
New York City
2.79%
3.48%
4.34%
1.93%
5.30%
-2.70%
New York State
3.97%
2.84%
5.92%
2.15%
6.37%
2.56%
Source: New York State Office of Temporary and Disability Assistance
Compiled by Marist College Bureau of Business and Economic Research, Marist
College
121
6/22/2009
Supplemental Security Income -Recipients
Annual: Monthly Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
1,505
1,495
1,501
1,499
1,481
1,483
Dutchess
4,689
4,615
4,592
4,471
4,419
4,356
Greene
1,248
1,230
1,201
1,172
1,157
1,101
Orange
6,284
6,140
6,001
5,884
5,899
5,893
Putnam
829
798
774
770
783
771
Rockland
4,606
4,527
4,459
4,364
4,301
4,315
Sullivan
2,525
2,481
2,490
2,491
2,531
2,537
Ulster
4,042
4,001
4,030
4,017
3,982
3,957
Westchester
16,350
16,151
15,837
15,391
15,206
14,981
Hudson Valley
42,079
41,437
40,886
40,060
39,758
39,391
New York City
409,795
407,052
405,476
400,470
398,504
397,940
New York State
656,358
649,071
644,062
634,231
630,097
627,083
Annual Percentage Change: Monthy Average
Counties
2008
2007
2006
2005
2004
2003
Columbia
0.69%
-0.39%
0.15%
1.23%
-0.13%
0.34%
Dutchess
1.60%
0.51%
2.70%
1.18%
1.43%
0.61%
Greene
1.50%
2.34%
2.45%
1.35%
5.04%
2.47%
Orange
2.35%
2.26%
1.98%
-0.25%
0.11%
-1.11%
Putnam
3.84%
3.01%
0.49%
-1.57%
1.56%
5.26%
Rockland
1.73%
1.50%
2.18%
1.46%
-0.32%
-2.11%
Sullivan
1.79%
-0.36%
-0.05%
-1.57%
-0.24%
0.34%
Ulster
1.03%
-0.72%
0.34%
0.86%
0.64%
0.12%
Westchester
1.23%
1.94%
2.90%
1.22%
1.50%
1.13%
Hudson Valley
1.55%
1.33%
2.06%
0.76%
0.93%
0.29%
New York City
0.67%
0.39%
1.25%
0.49%
0.14%
-0.19%
New York State
1.12%
0.77%
1.55%
0.66%
0.48%
0.13%
Source: New York State Office of Temporary and Disability Assistance
Compiled by Marist College Bureau of Business and Economic Research, Marist
College
122
6/22/2009
The Rate of Inflation Year-to-Year Change - 2003 to 2008
(All Urban Consumers)
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
2003
2004
2005
2006
U.S.
2007
2008
NY Area
Source: U.S. Bureau of Labor Statistics
Compiled by Bureau of Economic Research, School of Management, Marist College
6/25/2009
123
The Rate of Inflation
Year-to-Year Percent Change in CPI-U
2002 to December 2008
Consumer Price Index (CPI-U) NY, NY -Northeastern NJ
2008
2007
2006
2004
2005
2003
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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%
Average
3.90%
2.81%
3.78%
3.88%
3.53%
3.07%
Consumer Price Index (CPI-U) US City Average
2008
2007
2006
2005
2004
2003
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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
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
124
6/26/2009
Total Migration
Year 2006-2007
Number of Personal Tax Returns
INFLOWS
TO →
FROM ↓
Total
Columbia
Dutchess
Greene
Orange
1,147
5,580
1,031
7,616
2,216
4,225
1,693
3,500
16,638
New York State
812
3,725
824
4,586
1,735
2,420
1,254
2,455
10,296
New York City
153
840
122
1,715
364
1,252
351
413
7,579
Hudson Valley
Connecticut and
New Jersey
307
2,397
351
2,305
1,229
877
700
1,632
1,703
0
330
0
792
134
769
20
106
1,799
Tri-State Region
Outside of Tri-State
Region
812
4,055
824
5,378
1,869
3,189
1,274
2,561
12,095
335
1,525
207
2,238
347
1,036
419
939
4,543
Columbia
Dutchess
Greene
Orange
1,415
6,202
1,015
8,527
2,526
5,671
1,683
3,710
19,139
New York State
860
3,163
676
3,491
1,575
2,497
907
2,111
8,980
New York City
99
571
53
829
250
914
186
369
5,107
Hudson Valley
Connecticut and
New Jersey
299
1,927
192
2,032
1,169
1,268
518
1,230
2,866
0
416
0
507
215
1,071
15
94
2,859
Tri-State Region
860
3,579
676
3,998
1,790
3,568
922
2,205
11,839
Outside of Tri-State
Region
555
2,623
339
4,529
736
2,103
761
1,505
7,300
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Total
-268
-622
16
-911
-310
-1,446
10
-210
-2,501
New York State
-48
562
148
1,095
160
-77
347
344
1,316
New York City
54
269
69
886
114
338
165
44
2,472
Hudson Valley
Connecticut and
New Jersey
8
470
159
273
60
-391
182
402
-1,163
0
-86
0
285
-81
-302
5
12
-1,060
Tri-State Region
-48
476
148
1,380
79
-379
352
356
256
Outside of Tri-State
Region
-220
-1,098
-132
-2,291
-389
-1,067
-342
-566
-2,757
OUTFLOWS
FROM →
TO ↓
Total
Net Flows
FROM →
Putnam
Putnam
Rockland
Rockland
Sullivan
Sullivan
Ulster
Ulster
Westchester
Westchester
TO ↓
Data Source: IRS Complied by the Bureau of Economic Research, Marist College
125
6/26/2009
Migration within the Hudson Valley:
Year 2006-2007
Number of Personal Tax Returns
INFLOWS
TO →
FROM ↓
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
OUTFLOWS
From →
To ↓
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Net Flows
TO →
FROM ↓
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Totals
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
0
124
121
0
0
0
0
39
15
177
0
52
331
220
43
34
642
428
66
21
0
0
0
0
0
105
0
10
334
15
0
29
365
479
576
224
0
478
0
55
0
12
0
28
596
0
56
0
744
23
0
41
40
364
0
23
0
341
0
15
0
116
23
29
442
149
416
14
24
103
0
53
25
919
14
418
943
418
43
86
0
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
0
177
66
10
0
0
0
29
25
124
0
21
334
478
56
23
442
919
121
52
0
15
0
0
0
149
14
0
331
0
0
55
744
341
416
418
0
220
0
29
0
23
0
14
943
0
43
0
365
12
0
15
24
418
0
34
0
479
0
41
0
103
43
39
642
105
576
28
40
116
0
86
15
428
0
224
596
364
23
53
0
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
0
-53
55
-10
0
0
0
10
-10
53
0
31
-3
-258
-13
11
200
-491
-55
-31
0
-15
0
0
0
-44
-14
10
3
15
0
-26
-379
138
160
-194
0
258
0
26
0
-11
0
14
-347
0
13
0
379
11
0
26
16
-54
0
-11
0
-138
0
-26
0
13
-20
-10
-200
44
-160
-14
-16
-13
0
-33
10
8
491
14
194
347
54
20
33
0
470
159
273
60
-391
182
402
-1,163
Data Source: IRS Complied by the Bureau of Economic Research, Marist College
126
6/26/2009
Columbia County
Migration: Year 2006-2007
1,600
1,400
1,200
1,000
800
600
400
200
0
All
NYS
NYC
Inflows
1,147
812
153
307
Outflows
1,415
860
99
299
Tri-State
Other than TriState
0
812
335
0
860
555
Hudson Valley Conn. and NJ
Inflows
Outflows
$130,000
$120,000
$110,000
$100,000
$90,000
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
$0
Non-Migrant
All
NYS
NYC
Hudson Valley
Conn. and NJ
Tri-State
Other than TriState
Average AGI Inflow
$57,018
$53,112
$60,167
$109,739
$41,889
$0
$60,167
$36,009
Average AGI Outflow
$57,018
$42,134
$41,364
$69,788
$37,084
$0
$41,364
$43,328
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
127
6/16/2009
Dutchess County
Migration: Year 2006-2007
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
All
NYS
NYC
Hudson Valley
Conn. and NJ
Tri-State
Other than TriState
Inflows
5,580
3,725
840
2,397
330
4,055
1,525
Outflows
6,202
3,163
571
1,927
416
3,579
2,623
Inflows
Outflows
$75,000
$70,000
$65,000
$60,000
$55,000
$50,000
$45,000
$40,000
$35,000
$30,000
Non-Migrant
All
NYS
NYC
Average AGI Inflows
$69,209
$55,130
$57,772
$70,246
$55,308
Average AGI Outflows
$69,209
$51,844
$48,985
$54,711
$49,128
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
128
Tri-State
Other than TriState
$59,870
$57,943
$47,650
$55,252
$49,713
$54,752
Hudson Valley Conn. and NJ
6/16/2009
Greene County
Migration: Year 2006-2007
1,200
1,000
800
600
400
200
0
All
NYS
NYC
Inflows
1,031
824
122
351
Outflows
1,015
676
53
192
Tri- State
Other Than TriState
0
824
207
0
676
339
Hudson Valley Conn. and NJ
Inflows
Outflows
$90,000
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
Non-Migrant
All
NYS
NYC
Hudson
Valley
Conn. and NJ
Tri- State
Other Than
Tri-State
Average AGI Inflows
$49,147
$43,327
$45,143
$86,680
$36,812
$0
$45,143
$36,097
Average AGI Outflows
$49,147
$41,223
$45,331
$48,755
$34,026
$0
$45,331
$33,029
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
129
6/16/2009
Orange County
Migration: Year 2006-2007
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
NYS
NYC
Inflows
7,616
4,586
1,715
2,305
792
5,378
2,238
Outflows
8,527
3,491
829
2,032
507
3,998
4,529
Inflows
Hudson Valley
Conn. and NJ
Tri-State
Other than TriState
All
Outflows
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
Non-Migrant
All
NYS
NYC
Average AGI Inflows
$65,236
$54,931
$58,086
$65,167
$53,055
Average AGI Outflows
$47,094
$47,688
$46,863
$46,778
$47,094
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
130
Tri-State
Other than TriState
$74,653
$60,526
$41,488
$67,365
$49,463
$46,121
Hudson Valley Conn. and NJ
6/16/2009
Putnam County
Migration: Year 2006-2007
3,000
2,500
2,000
1,500
1,000
500
0
All
NYS
NYC
Inflows
2,216
1,735
364
1,229
Outflows
2,526
1,575
250
1,169
Tri-State
Other than TriState
134
1,869
347
215
1,790
736
Hudson Valley Conn. and NJ
Inflows
Outflows
$110,000
$100,000
$90,000
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
Non-Migrant
All
NYS
NYC
Average AGI INflows
$85,578
$69,074
$72,627
$98,967
$65,478
Average AGI Outflows
$85,578
$62,416
$62,233
$60,380
$62,691
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
131
Tri-State
Other than TriState
$59,067
$71,655
$55,176
$66,786
$46,736
$61,531
Hudson Valley Conn. and NJ
6/16/2009
Rockland County
Migration: Year 2006-2007
6,000
5,000
4,000
3,000
2,000
1,000
0
All
NYS
NYC
Inflows
4,225
2,420
1,252
877
Outflows
5,671
2,497
914
1,268
Tri-State
Other than TriState
769
3,189
1,036
1,071
3,568
2,103
Hudson Valley Conn. and NJ
Inflows
Outflows
$90,000
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
Non-Migrant
All
NYS
NYC
Hudson Valley
Conn. and NJ
Tri-State
Other than TriState
Average AGI Inflows
$82,469
$60,579
$65,863
$70,716
$62,417
$63,519
$65,298
$46,053
Average AGI Outflows
$82,469
$63,725
$57,950
$52,075
$62,562
$78,076
$63,991
$63,274
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
132
6/16/2009
Sullivan County
Migration: 2006-2007
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
All
NYS
NYC
Inflows
1,693
1,254
351
700
Outflows
1,683
907
186
518
Tri-State
Other than TriState
20
1,274
419
15
922
761
Hudson Valley Conn. and NJ
Inflows
Outflows
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
Non-Migrant
All
NYS
NYC
Hudson Valley
Conn. and NJ
Tri-State
Other than TriState
Average AGI Inflows
$49,776
$44,353
$47,590
$62,020
$41,787
$47,250
$47,585
$34,525
Average AGI Outflows
$49,776
$38,859
$38,968
$39,156
$37,631
$60,600
$39,320
$38,300
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
133
6/16/2009
Ulster County
Migration: Year 2006-2007
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
Other than TriState
All
NYS
NYC
Hudson Valley
Conn. and NJ
Tri-State
Inflows
3,500
2,455
413
1,632
106
2,561
939
Outflows
3,710
2,111
369
1,230
94
2,205
1,505
Inflows
Outflows
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
Non-Migrant
All
NYS
NYC
Hudson
Valley
Conn. and NJ
Tri-State
Other than TriState
Average AGI Inflows
$55,514
$45,831
$49,892
$79,906
$45,309
$68,538
$50,663
$32,653
Average AGI Outflows
$55,514
$41,858
$44,165
$65,266
$39,189
$33,840
$43,725
$39,122
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
134
6/16/2009
Westchester County
Migration: 2006-2007
25,000
20,000
15,000
10,000
5,000
0
All
NYS
NYC
Inflows
16,638
10,296
7,579
1,703
Outflows
19,139
8,980
5,107
2,866
Tri-State
Other than TriState
1,799
12,095
4,543
2,859
11,839
7,300
Hudson Valley Conn. and NJ
Inflows
Outflows
$120,000
$110,000
$100,000
$90,000
$80,000
$70,000
$60,000
$50,000
Non-Migrant
All
NYS
NYC
Hudson Valley
Conn. and NJ
Tri-State
Other than TriState
Average AGI Inflows
$109,075
$85,631
$89,623
$98,416
$60,827
$100,918
$91,303
$70,529
Average AGI Outflows
$109,075
$83,956
$72,691
$71,154
$67,812
$107,364
$81,064
$88,647
Source Data: IRS
Compiled by: Marist College Bureau of Business and Economic Research
135
6/16/2009
Existing Home Sales
2000-2008
County
Columbia
2008
2007
2006
2005
2004
2003
2002
2001
2000
% change
07 to 08
% change
06 to 08
% change
from Peak
397
516
534
631
606
581
620
578
433
-23.06%
-25.66%
-37.08%
2,075
2,437
2,759
2,985
2,880
2,284
2,413
2,036
2,298
-14.85%
-24.79%
-30.49%
Greene
254
277
343
345
346
346
665
349
246
-8.30%
-25.95%
-61.80%
Orange
1,892
2,679
3,053
3,555
3,850
3,613
3,921
4,026
3,327
-29.38%
-38.03%
-53.01%
Putnam
621
764
852
1,088
1,122
1,154
1,131
1,054
1,111
-18.72%
-27.11%
-85.83%
1,174
1,494
1,585
1,760
2,102
2,257
2,025
2,385
1,828
-21.42%
-25.93%
-50.78%
Sullivan
303
350
655
708
620
562
711
578
634
-13.43%
-53.74%
-57.38%
Ulster
992
1,288
1,345
1,494
1,560
1,322
1,319
1,229
1,648
-22.98%
-26.25%
-39.81%
3,798
5,119
5,164
6,019
6,118
5,537
5,728
5,446
5,841
-25.81%
-26.45%
-36.90%
Hudson Valley Total
11,506
14,924
16,290
18,584
19,228
17,656
18,533
17,681
17,366
-22.90%
-29.37%
-40.16%
New York State
78,164
92,308
101,131
104,949
102,726
94,196
96,210
87,952
84,409
-15.32%
-22.71%
-25.52%
4,913,000
5,652,000
6,478,000
6,178,000
6,781,000
6,101,000
5,567,000
5,295,000
5,114,000
-13.08%
-24.16%
-27.55%
Dutchess
Rockland
Westchester
**U.S.
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
6/26/2009
136
Average Annual Selling Price (in Dollars)
2000-2008
County
Columbia
2008
2007
2006
2005
2004
2003
2002
2001
2000
$ 332,086
$ 328,380
$ 298,062
$ 309,609
$ 282,693
$ 219,760
$ 191,274
$ 189,878
$ 171,596
% change
07 to 08
% change
06 to 08
% change
from Peak
1.13%
11.42%
NM
Dutchess
$354,512
$393,438
$405,247
$391,454
$346,544
$306,366
$262,385
$228,078
$197,457
-9.89%
-12.52%
-12.52%
Greene
$215,280
$220,654
$202,323
$197,875
$163,442
$137,522
$112,647
$92,283
$89,395
-2.44%
6.40%
-2.44%
Orange
$368,334
$391,542
$402,520
$405,549
$373,899
$313,210
$284,606
$186,463
$174,490
-5.93%
-8.49%
-9.18%
Putnam
$439,521
$434,238
$459,841
$477,221
$434,759
$385,679
$379,721
$293,201
$265,072
1.22%
-4.42%
-7.90%
Rockland
$602,780
$703,563
$644,477
$698,346
$626,570
$549,638
$487,702
$287,829
$305,303
-14.32%
-6.47%
-14.32%
Sullivan
$180,115
$180,094
$181,404
$198,064
$166,599
$138,941
$127,915
$107,476
$99,782
0.01%
-0.71%
-9.06%
Ulster
$294,673
$286,409
$290,505
$314,294
$259,881
$219,796
$194,077
$178,096
$146,990
2.89%
1.43%
-6.24%
Westchester
$891,019
$894,541
$859,132
$837,846
$782,381
$702,940
$669,108
$539,423
$518,661
-0.39%
3.71%
-0.39%
Hudson Valley
$550,200
$599,029
$562,222
$560,894
$505,056
$439,340
$390,031
$326,881
$313,864
-8.15%
-2.14%
-8.15%
New York State
$320,025
$323,022
$299,765
$346,715
$307,140
$277,090
$241,238
$213,725
$191,586
-0.93%
6.76%
-7.70%
U.S.
$242,700
$266,000
$268,200
$256,550
$235,419
$216,523
$201,194
$185,112
$176,428
-8.76%
-9.51%
-9.51%
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
6/26/2009
137
Median Selling Price (in Dollars)
2000-2008
County
2008
2007
2006
2005
2004
2003
2002
2001
2000
% change
07 to 08
% change
06 to 08
% change
from Peak
Columbia
$225,900
$239,313
$232,813
$233,688
$206,781
$162,175
$150,875
$138,375
$123,725
-5.60%
2.79%
-5.60%
Dutchess
$310,606
$332,500
$348,013
$339,313
$301,750
$267,500
$238,563
$205,328
$171,000
-6.58%
-4.46%
-10.75%
Greene
$179,500
$169,438
$170,713
$160,688
$140,050
$120,925
$90,938
$78,313
$80,400
5.94%
-0.75%
NM
Orange
$290,164
$321,438
$318,565
$315,225
$276,975
$234,475
$206,450
$160,978
$159,950
-9.73%
0.90%
-9.73%
Putnam
$377,875
$402,250
$408,944
$410,100
$378,925
$353,463
$307,350
$250,938
$233,190
-6.06%
-1.64%
-7.86%
Rockland
$451,250
$495,000
$496,250
$495,238
$430,200
$375,875
$332,438
$270,500
$262,475
-8.84%
-0.25%
-9.07%
Sullivan
$148,613
$173,350
$168,964
$157,488
$133,000
$104,188
$91,175
$76,213
$76,725
-14.27%
2.60%
-14.27%
Ulster
$238,838
$254,750
$249,663
$248,263
$215,250
$179,800
$153,375
$130,338
$118,125
-6.25%
2.04%
-6.25%
Westchester
$644,113
$676,250
$662,481
$665,750
$628,750
$555,250
$519,725
$445,938
$402,906
-4.75%
2.08%
-4.75%
Hudson Valley*
$318,540
$340,476
$277,855
$275,068
$246,516
$213,968
$190,081
$159,720
$148,045
-6.44%
22.54%
-6.44%
$215,938
$239,000
$250,594
$256,899
$242,240
$199,475
$169,751
$147,369
$137,813
-9.65%
-4.63%
-15.94%
$219,000
$221,900
$219,600
$195,400
$195,400
$195,400
$195,400
$195,400
-9.54%
-1.31%
-10.73%
* Estimate
New York State
U.S.
$198,100
Source: NYSAR, (**NAR)
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
6/26/2009
138
Median and Average Quarterly Sales Data 2000-2008
Columbia County: Median and Average Housing
Values 2000-2008
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
2000
2001
2002
2003
2004
Median
2005
2006
2007
2008
Average
Dutchess County: Median and Average Housing
Values 2000-2008
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
2000
2001
2002
2003
2004
Median
2005
2006
2007
2008
2007
2008
Average
Green County: Median and Average Housing
Values 2000-2008
$250,000
$200,000
$150,000
$100,000
$50,000
$0
2000
2001
2002
2003
2004
Median
2005
Average
Data Source: NYSAR
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
139
2006
6/26/2009
Median and Average Quarterly Sales Data 2000-2008
Orange: Median and Average Housing
Values 2000-2008
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
2000
2001
2002
2003
2004
Median
2005
2006
2007
2008
2007
2008
2007
2008
Average
Putnam County: Median and Average Housing
Values 2000-2008
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$2000
2001
2002
2003
2004
Median
2005
2006
Average
Rockland: Median and Average Housing
Values 2000-2008
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$2000
2001
2002
2003
2004
Median
2005
2006
Average.
Data Source: NYSAR
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
140
6/26/2009
Median and Average Quarterly Sales Data 2000-2008
Sullivan: Median and Average Housing
Values 2000-2008
$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$2000
2001
2002
2003
2004
Median
2005
2006
2007
2008
2007
2008
Average
Ulster: Median and Average Housing
Values 2000-2008
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$2000
2001
2002
2003
2004
Median
2005
2006
Average
Westchester: Median and Average Housing
Values 2000-2008
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$2000
2001
2002
2003
2004
Median
2005
2006
2008
Average
Data Source: NYSAR
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
141
2007
6/26/2009
Annual Number of Construction Permits
Single Family Homes
% Change
Counties
2008
2007
2006
2005
2004
2003
2002
2001
2000
2008-2007 2007-2006
1999
Columbia
116
223
224
323
356
316
301
241
186
194
-47.98%
-0.45%
Dutchess
354
472
736
858
926
986
909
890
983
1,075
-25.00%
-35.87%
Greene
169
247
323
337
416
328
197
163
185
128
-31.58%
-23.53%
Orange
626
861
1,033
1,301
1,480
1,302
1,727
1,621
1,598
1,383
-27.29%
-16.65%
Putnam
75
83
129
141
196
232
308
346
344
372
-9.64%
-35.66%
Rockland
246
324
307
308
206
177
220
282
351
659
-24.07%
5.54%
Sullivan
313
420
554
761
656
467
527
372
277
213
-25.48%
-24.19%
Ulster
270
418
531
767
851
694
718
538
510
443
-35.41%
-21.28%
Westchester
321
464
434
780
898
826
1,049
1,090
1,287
1,360
-30.82%
6.91%
-29.10%
-17.77%
Hudson Valley
2,490
3,512
4,271
5,210
4,733
4,358
5,956
5,543
5,721
5,827
Number in red indicates peak activity
Data: U.S. Census Bureau
Complied by: Bureau of Economic Research, Marist College
142
6/22/2009
Annual Dollar Cost of Construction Single Family Homes
('000)
% Change
Counties
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
2008-2007 2007-2006
Columbia
$40,969
$52,377
$54,053
$77,598
$65,521
$54,992
$49,741
$39,028
$29,282
$27,506
-21.78%
-3.10%
Dutchess
$67,897
$96,671
$154,048
$212,834
$220,257
$203,255
$184,179
$171,896
$170,964
$169,127
-29.76%
-37.25%
Greene
$35,227
$53,105
$57,135
$57,823
$64,719
$55,742
$25,499
$23,680
$20,975
$13,701
-33.67%
-7.05%
Orange
$111,217
$160,487
$189,404
$224,102
$255,775
$202,188
$263,472
$229,174
$202,231
$164,448
-30.70%
-15.27%
Putnam
$26,342
$27,445
$42,392
$42,503
$46,106
$53,578
$58,982
$57,749
$66,329
$66,218
-4.02%
-35.26%
Rockland
$55,235
$65,124
$65,689
$68,443
$48,548
$39,834
$45,849
$50,693
$55,098
$92,468
-15.18%
-0.86%
Sullivan
$52,469
$80,576
$101,382
$114,756
$106,204
$64,087
$58,285
$45,186
$27,100
$19,953
-34.88%
-20.52%
Ulster
$55,634
$90,065
$107,806
$153,153
$163,349
$114,990
$128,917
$78,492
$70,394
$57,058
-38.23%
-16.46%
Westchester
$155,817
$207,069
$213,963
$263,772
$297,474
$244,110
$296,338
$311,544
$349,214
$360,085
-24.75%
-3.22%
Hudson Valley
$600,807
$832,919
$985,872
$1,214,984
$1,267,953
$1,032,775
$1,111,262
$1,007,443
$991,586
$970,565
-27.87%
-15.51%
Number in red indicates peak volume
Data: U.S. Census Bureau
Complied by: Bureau of Economic Research, Marist College
143
6/22/2009
Annual Average Cost of Construction per Permit Single Family Homes
% Change
2008-2007 2007-2006
Counties
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
Columbia
$353,181
$234,874
$241,308
$240,241
$184,048
$174,024
$165,254
$161,942
$157,428
$141,784
50.37%
-2.67%
Dutchess
$191,799
$204,811
$209,304
$248,058
$237,859
$206,141
$202,617
$193,142
$173,921
$157,327
-6.35%
-2.15%
Greene
$208,444
$215,000
$176,889
$171,582
$155,575
$169,945
$129,434
$145,274
$113,376
$107,036
-3.05%
21.55%
Orange
$177,663
$186,396
$183,353
$172,254
$172,821
$155,290
$152,561
$141,378
$126,552
$118,907
-4.69%
1.66%
Putnam
$351,227
$330,663
$328,620
$301,440
$235,235
$230,940
$191,500
$166,904
$192,817
$178,007
6.22%
0.62%
Rockland
$224,533
$201,000
$213,971
$222,218
$235,670
$225,051
$208,405
$179,764
$156,974
$140,316
11.71%
-6.06%
Sullivan
$167,633
$191,848
$183,000
$150,796
$161,896
$137,231
$110,598
$121,468
$97,834
$93,678
-12.62%
4.83%
Ulster
$206,052
$215,467
$203,024
$199,678
$191,949
$165,691
$179,549
$145,895
$138,028
$128,800
-4.37%
6.13%
Westchester
$485,411
$446,269
$493,002
$338,169
$331,263
$295,532
$282,496
$285,820
$271,340
$264,769
8.77%
-9.48%
Hudson Valley
$241,288
$237,164
$230,829
$233,202
$267,896
$236,984
$186,579
$181,750
$173,324
$166,563
1.74%
2.74%
Number in red indicates peak average cost
Data: U.S. Census Bureau
Complied by: Bureau of Economic Research, Marist College
144
6/22/2009
Annual Number of Construction Permits
All Residential Construction (# of Buildings)
% Change
Counties
2008
2007
2006
2005
2004
2003
2002
2001
2000
2008-2007 2007-2006
1999
Columbia
122
230
233
329
358
318
304
241
188
196
-46.96%
-1.29%
Dutchess
384
506
750
871
943
1,002
943
910
990
1,097
-24.11%
-32.53%
Greene
170
250
325
244
424
329
201
164
185
128
-32.00%
-23.08%
Orange
679
905
1,080
1,378
1,505
1,357
1,831
1,675
1,653
1,450
-24.97%
-16.20%
Putnam
79
89
133
141
196
236
308
351
347
376
-11.24%
-33.08%
Rockland
260
371
362
348
256
224
256
322
382
693
-29.92%
2.49%
Sullivan
342
471
625
799
706
511
542
395
280
224
-27.39%
-24.64%
Ulster
281
433
536
790
821
715
741
548
521
462
-35.10%
-19.22%
Westchester
362
556
497
847
1,033
927
1,148
1,212
1,416
1,468
-34.89%
11.87%
-29.70%
-16.08%
Hudson Valley
2,679
3,811
4,541
5,747
6,242
5,619
6,274
5,818
5,962
6,094
Number in red indicates peak activity
Data: U.S. Census Bureau
Complied by: Bureau of Economic Research, Marist College
145
6/22/2009
Annual Dollar Cost of Construction All Residential Construction ('000)
% Change
Counties
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
2008-2007 2007-2006
Columbia
$45,509
$54,337
$58,074
$78,402
$66,072
$55,644
$52,950
$39,028
$29,782
$27,796
-16.25%
-6.43%
Dutchess
$98,618
$134,812
$161,799
$225,730
$231,216
$212,609
$202,276
$192,536
$172,169
$176,919
-26.85%
-16.68%
Greene
$35,378
$53,655
$57,635
$60,874
$66,381
$55,892
$27,044
$23,980
$20,975
$13,701
-34.06%
-6.91%
Orange
$158,172
$189,861
$221,848
$268,404
$273,720
$231,980
$288,253
$256,421
$227,118
$195,920
-16.69%
-14.42%
Putnam
$28,954
$31,852
$44,649
$42,504
$46,107
$60,872
$58,982
$59,553
$67,412
$67,878
-9.10%
-28.66%
Rockland
$61,216
$96,124
$106,643
$85,255
$81,081
$57,180
$68,782
$66,735
$67,365
$116,659
-36.32%
-9.86%
Sullivan
$57,421
$90,518
$114,335
$129,162
$113,087
$70,385
$61,504
$48,849
$27,236
$22,524
-36.56%
-20.83%
Ulster
$79,344
$111,384
$115,546
$164,526
$168,474
$122,196
$137,643
$79,996
$72,667
$62,040
-28.77%
-3.60%
Westchester
$180,589
$548,800
$272,219
$300,982
$436,565
$419,709
$433,533
$432,479
$438,763
$381,734
-67.09%
101.60%
Hudson Valley
$745,201
$1,311,341
$1,152,748
$1,355,837
$1,482,701
$1,286,467
$1,330,966
$1,199,576
$1,123,486
$1,065,172
-43.17%
13.76%
Number in red indicates peak volume
Data: U.S. Census Bureau
Complied by: Bureau of Economic Research, Marist College
146
6/22/2009
Annual Average Cost of Construction per Permit All Residential Construction
% Change
2008-2007 2007-2006
Counties
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
Columbia
$373,024
$236,247
$249,243
$238,303
$184,557
$174,980
$174,179
$161,942
$158,413
$141,818
57.90%
-5.21%
Dutchess
$256,818
$266,426
$215,731
$259,162
$245,192
$212,185
$214,502
$211,578
$173,908
$161,275
-3.61%
23.50%
Greene
$208,104
$214,621
$177,339
$249,482
$156,558
$169,885
$134,545
$146,218
$113,376
$107,036
-3.04%
21.02%
Orange
$232,948
$209,791
$205,415
$194,778
$181,874
$170,951
$157,429
$153,087
$137,397
$135,117
11.04%
2.13%
Putnam
$366,506
$357,883
$335,707
$301,447
$235,237
$257,931
$191,500
$169,667
$194,270
$180,528
2.41%
6.61%
Rockland
$235,446
$259,093
$294,593
$244,984
$316,721
$255,267
$268,679
$207,252
$176,349
$168,339
-9.13%
-12.05%
Sullivan
$167,898
$192,182
$182,936
$161,655
$160,180
$137,740
$113,476
$123,668
$97,270
$100,554
-12.64%
5.05%
Ulster
$282,364
$257,238
$215,572
$208,261
$205,205
$170,903
$185,753
$145,977
$139,475
$134,287
9.77%
19.33%
Westchester
$498,865
$987,050
$547,725
$355,350
$422,619
$452,761
$377,642
$356,831
$309,861
$260,037
-49.46%
80.21%
Hudson Valley
$278,164
$344,094
$253,853
$235,921
$237,536
$228,950
$212,140
$206,184
$188,441
$174,790
-19.16%
35.55%
Number in red indicates peak average cost
Data: U.S. Census Bureau
Complied by: Bureau of Economic Research, Marist College
147
6/22/2009
Estimates of the Components of Population Change
July 1, 2006 to July 1, 2007 and July 1 2007 to July 1, 2008
County
Total Population
Change
Births
2007
2008
2008
Net International
Migration
Deaths
2007
2008
2007
2007
2008
Net Internal Migration
2007
2008
Residual*
2007
2008
Columbia
-219
-227
628
631
644
657
45
53
-269
-271
21
17
Dutchess
654
544
3,209
3,297
2,239
2,248
537
636
-893
-1,196
40
55
Greene
-61
-46
482
498
509
513
20
20
-36
-48
-18
-3
Orange
3,242
3,069
5,585
5,601
2,513
2,521
653
656
-563
-739
80
72
Putnam
37
204
1,006
587
581
587
174
206
-539
-462
-23
460
1,540
556
4,666
2,106
2,136
2,106
1,165
1,380
-1,970
-3,270
-185
2,446
-229
549
981
681
668
681
91
102
-624
156
-9
291
77
40
1,883
1,891
1,536
1,530
174
187
-516
-558
72
50
4,374
3,245
11,873
11,928
7,268
7,195
5,272
6,338
-5,323
-7,744
-180
-82
60,981
15,741
251,952
249,203
153,852
153,730
94,797
111,607
-126,209
-189,765
-5,707
-1,574
Rockland
Sullivan
Ulster
Westchester
New York State
* Residuals arise when a state or county challenges an estimate and
the U.S. Census Bureau accepts the challenge.
Data Source: U.S. Census Bureau
Complied by: Bureau of Economic Research, School of Management, Marist College
148
6/24/2009
Total Sales Tax Collection
Years 2008-2003
County
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
2008
$30,953,420
$150,961,952
$27,364,265
$223,295,372
$51,053,415
$169,717,433
$36,271,025
$98,775,751
$462,898,900
$1,251,291,534
2007
$29,746,165
$153,483,935
$27,244,420
$221,891,371
$45,888,246
$169,716,412
$34,773,456
$96,959,053
$462,232,516
$1,241,935,574
2006
$31,668,939
$149,078,594
$26,431,417
$219,619,088
$42,974,171
$156,905,915
$32,531,975
$98,281,471
$442,254,806
$1,199,746,376
2005
$30,387,155
$153,789,345
$25,203,780
$212,411,769
$37,989,168
$155,461,881
$31,543,725
$94,371,372
$430,238,671
$1,171,396,866
2004
$28,615,352
$147,933,116
$22,642,246
$181,933,402
$36,605,169
$147,829,373
$30,014,631
$91,463,759
$398,111,009
$1,085,148,057
2003
$26,996,809
$128,831,444
$20,820,638
$151,534,021
$34,211,919
$146,248,414
$24,932,819
$89,649,405
$341,975,798
$965,201,267
Yearly Percentage Change
County
Columbia
Dutchess
Greene
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
Hudson Valley
2008-2007
4.06%
-1.64%
0.44%
0.63%
11.26%
0.00%
4.31%
1.87%
0.14%
2007-2006
-6.07%
2.96%
3.08%
1.03%
6.78%
8.16%
6.89%
-1.35%
4.52%
2006-2005
4.22%
-3.06%
4.87%
3.39%
13.12%
0.93%
3.13%
4.14%
2.79%
2005-2004
6.19%
3.96%
11.31%
16.75%
3.78%
5.16%
5.09%
3.18%
8.07%
2004-2003
6.00%
14.83%
8.75%
20.06%
7.00%
1.08%
20.38%
2.02%
16.41%
2003-2002
7.59%
0.75%
3.52%
2.42%
7.95%
12.43%
7.19%
Source: NYS Department of Taxation and Finance
Compiled by Bureau of Economic Research, School of Management, Marist College
15.84%
5.73%
3.40%
4.62%
18.68%
10.71%
8.00%
1.64%
6/20/2009
149
Bankruptcies by Court District 2004-2008
District
2004
2005
2006
2007
2008
Southern (HV)
20,729
26,856
5,732
7,674
10,225
Northern
17,501
24,148
8,653
10,345
11,242
Eastern
26,445
36,589
8,808
12,726
15,206
Western
15,285
21,979
7,023
8,628
9,179
Total for New York State
79,960
109,572
32,222
41,380
47,860
Change From Prior Year
District
2004
2005
2006
2007
2008
Southern (HV)
18.1%
29.6%
-78.7%
33.9%
33.2%
Northern
0.6%
38.0%
-64.2%
19.6%
8.7%
Eastern
1.9%
38.4%
-75.9%
44.5%
19.5%
Western
2.6%
43.8%
-68.0%
22.9%
6.4%
Total for New York State
5.5%
37.0%
-70.6%
28.4%
15.7%
Bankruptcies within New York State by District 2004-2008
120,000
100,000
80,000
60,000
40,000
20,000
0
2004
Southern (HV)
2005
Northern
2006
Eastern
2007
Western
2008
Total for New York State
Source: United States Courts, Statistical Division
Compiled by the Marist College Bureau of Business and Economic Research, School of Management, Marist College
150
6/27/2009
Total Bankruptcy Filings By Chapter
2002
2003
2004
2005
2006
2007
2008
Total Filings
72,279
75,790
79,960
109,572
9,299
47,304
56,634
Chapter 7
56,134
59,704
61,938
94,576
6,430
33,125
42,475
Chapter 11
1,754
1,180
3,174
1,049
123
631
963
Chapter 12
14
28
5
19
0
32
20
Chapter 13
14,342
14,836
14,733
13,876
2,734
13,484
13,151
2002
2003
2004
2005
2006
2007
2008
Total Business
2,582
1,945
4,063
2,106
335
1,704
2,290
Chapter 7
717
634
657
931
172
861
1,176
Chapter 11
1,679
1,119
3,139
985
116
590
907
Chapter 12
14
28
5
19
5
32
20
Chapter 13
139
122
152
128
36
189
162
Total Non-Business
69,697
73,845
75,897
8,964
8,964
45,600
54,344
Chapter 7
55,417
59,070
61,281
6,258
6,258
32,264
41,299
Chapter 11
75
61
35
78
32
41
56
Chapter 12
2002
2003
2004
2005
2006
2007
2008
Chapter 13
14,203
14,714
14,581
2,698
2,698
13,295
12,989
Source: United States Courts, Statistical Division
Compiled by the Marist College Bureau of Economic Research, School of Management, Marist College
151
0
0
0
0
0
0
0
6/27/2009