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May 21, 2008
Federal Reserve Bank of Philadelphia Releases its Coincident Index for Pennsylvania
On Tuesday the Federal Reserve Bank of Philadelphia (PFRB) released its Pennsylvania coincident index for April 2008. This is an index of four economic variables: nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and inflation adjusted wage and salary disbursements.
From the Fed's press release:
"In April the coincident index for Pennsylvania fell 0.2 percent, the fourth month in a row with negative index growth. Average hours worked in manufacturing fell, while the unemployment rate had a marginal increase. Payroll employment remained roughly flat. Pennsylvania's economic activity as measured by the coincident index is down 0.3 percent over the past 12 months, the state's lowest 12 month rate since May 2003."
What follows is the national map of change in the coincident index published by the PFRB.
--Mark Price
Posted by Price at May 21, 2008 11:01 AM