Both groups report a modest increase in price pressures. Other Business Activity New York's unemployment rate declined from 6.1 percent to 5.9 percent in September, but New Jersey's edged up 0.1 point to 6.2 percent. Private-sector job growth slowed moderately in September, largely reflecting an acceleration in manufacturing job losses. The region's bellwether industry, Wall Street, has generated strong job and income growth, and is expected to pay out record bonuses in the months ahead. Historically, this sector has been a fairly good leading indicator of job growth in other local sectors.
Tourism remains strong, with hotels persistently running close to full occupancy.
Refinancing activity for all types of loans was down. The survey results suggest mixed trends in loan rates. Average deposit rates continued to rise. To comment on this site, please fill out our feedback form.