The U.S. international trade deficit increased in 2018, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $552.3 billion in 2017 to $621.0 billion in 2018, as imports increased more than exports. Read more

U.S. GDP increased at an annual rate of 2.6 percent in the fourth quarter of 2018, according to the “initial” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.4 percent. Read more

The New York State Department of Labor reported a gain of 11,800 jobs statewide in December. Employment in the state increased by 122,000 in calendar year 2018, a gain of 1.3% over a year ago, moderately below the nationwide gain of 1.8%. The BLS reported that employment in New York City was flat in December. Employment in the city was up 67,000 in 2018, a gain of 1.5%.

The New York State Department of Labor reported a gain of 6,000 jobs statewide in November.  Employment in the state is up 1.2% over a year ago, moderately below the nationwide gain of 1.7%.  On balance, the gains were concentrated in New York City as the BLS reported a gain of 7,100 jobs in the city in November.  Employment in the city is up 1.5% over a year ago.

The New York State Department of Labor reported a gain of 22,000 jobs statewide in October.  Employment in the state is up 1.3% over a year ago, moderately below the nationwide gain of 1.7%.  The BLS reported a gain of 18,000 jobs in New York City in October, and employment in the city is up 1.4% over a year ago.

The New York State Department of Labor reported that the state gained 6,300 jobs in September.  Employment in the State is up 1.0% over a year ago, below the nationwide increase of 1.7%.  The U.S. Bureau of Labor Statistics reported that New York City gained 9,000 jobs in September, and employment in the city is up 1.3% over a year ago.

According to the Wall Street Journal, China’s economic growth slowed to 6.5%—its weakest pace since the financial crisis of 2008-09. As its growth in industrial output and consumption weakened over the past quarter, Chinese regulators have reacted by launching a coordinated effort to calm investors. Read more

William Nordhaus and Paul Romer, pioneers in adapting the western economic growth model to focus on environmental issues and sharing the benefits of technology, won the 2018 Nobel Economics Prize on Monday, October 8th. Read more

The Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 2.00 to 2.25 percent. Read more

Real gross domestic product increased at an annual rate of 4.2 percent in the second quarter of 2018, according to the “second” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent. Read more