Regional President Speech

Selected Charts to Accompany Remarks by Cathy E. Minehan January 24, 1995 Chart 1 Nonfarm Payroll Employment by Census Region Index, Each Region's Employment Peak= 1 1.15 Mountain 1.10 West So. Central West No. Central Pacific exc. CA South Atlantic 1.05 - - - - - - - - - - - - - - - - - - - - - - - - - East No. Central 1.00 Pacific __ Middle Atlantic California 0.95 New England 0.90 ---------------------------------------------------------------------------------------- Jul 88 Jan 89 Jul 89 Jan 90 Jul 90 Jan 91 Jul 91 Jan 92 Jul 92 Jan 93 Jul 93 Jan 94 Jul 94 Jan 95 Jul 95 Jan 96 Source: U.S. Bureau of Labor Statistics. Chart 2 Nonfarm Payroll Employment in New England and the United States Index, Each State's Employment Peak = 1 1.08 ----------------------------------------------------------------------------------- 1.05 United States ----------------------------------------------------------------- ----------------- 1.02 Vennont 0.99 _"_Maine New 0.96 Hampshire - 0.93 -------------------------- Connecticut 0.90 0.87 Jul 88 Jan 89 Jul 89 Jan 90 Jul 90 Jan 91 Jul 91 Jan 92 Jul 92 Jan 93 Jul 93 Jan 94 Jul 94 Jan 95 Jul 95 Source: U.S. Bureau of Labor Statistics. Chart 3 Nonfarm Payroll Employment Index, 1989 Q1 = 1 1.10 1.05 United States 1.00 0.95 - 0.90 0.85 Jan 88 Jan 89 Jan 90 Jan 91 Jan 92 Jan 93 Jan 94 Jan 95 Source: U.S. Bureau of Labor Statistics. Chart 4 Unemployment Rate Percent 10.0 9.0 8.0 7.0 United States 6.0 5.0 4.0 3.0 2.0 Jan 88 Jan89 Jan 90 Jan 91 Jan 92 Jan 93 Jan 94 Jan 95 Note: Data beginning January 1994 reflect the redesigned CPS survey and are not strictly comparable to data for 1993 and earlier years. Source: U.S. Bureau of Labor Statistics. Chart 5 Unemployment Rates in November 1994 Seasonally Adjusted Boston Brockton Fitchburg Lawrence Lowell New Bedford 9.8 Springfield Worcester Massachusetts United States 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 Percent Source: U.S. Bureau of Labor Statistics and New England Economic Indicators, Federal Reserve Bank of Boston. Chart 6 Sources of Employment Growth by Sector = = Index, 1989 Q1 1 Index, 1989 Q1 1 1.25 1.10 Retail and Wholesale Trade 1.20 1.05 1.15 1.00 1.10 0.95 1.05 0.90 1.00 0.85 0.95 0.90 0.80 Jan 88 Jan 89 Jan 90 Jan 91 Jan 92 Jan 93 Jan 94 Jan 95 Jan 88 Jan 89 Jan 90 Jan 91 Jan 92 Jan 93 Jan 94 Jan 95 = = Index, 1989 Q1 1 Index, 1989 Q1 1 1.20 1.05 Construction Manufacturing 1.10 1.00 1.00 0.95 0.90 0.90 0.80 0.85 0.70 0.80 0.60 0.50 0.75 Jan 88 Jan 89 Jan 90 Jan 91 Jan 92 Jan 93 Jan 94 Jan 95 Jan 88 Jan 89 Jan 90 Jan 91 Jan 92 Jan 93 Jan 94 Jan 95 Source: U.S. Bureau of Labor Statistics. Chart 7 Current Economic Indicators Consumer Confidence Help Wanted Advertising (Index 1986 = 100) (Index 1967 = 100) 180 ~-----------------, 180 160 120 - - - 140 100 120 80 60 ~ ------------------ 80 20 ---------------------------- 60 0 L.J.__j_...J.._.J..._!.........1..-J..--'---'---'----'---'---"'--'-~---'----'----'-"'----' ~ '--'----'----'---'--'---'----'----'-_..__--'----'---'---"---L----'----'---'----'-..J-J OCT82 OCT84 OCT86 OCT88 OCT90 OCT92 OCT94 OCT82 OCT84 OCT86 OCT88 OCT90 OCT92 OCT94 Retail Sales Average Hourly Earnings (Index 1984Q4 = 100) Percent Change from a Year Earlier 1.8 ~-----------------, 12 ~---------------~ 1.6 - - - - - - - - - - - - 10 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1.4 8 - --------------------------- Massachusetts Massachusetts 4 0~ ---------------------------- 2 ------- 0.6 '-'---'----'----'---'--'---'---'-~---'-_..__--'----'---'--'---'---'-~~ 0 ~~--'--'--~---'-~---'-_..__--'----'--'--'---'---'-----'----'-__,___, OCT82 OCT84 OCT86 OCT88 OCT90 OCT92 OCT94 OCT82 OCT84 OCT86 OCT88 OCT90 OCT92 OCT94 Consumer Price Index Housing Permits Authorized Percent Change from a Year Earlier (Index 1984Q4 = 1) 8~------------------, 1.8 ,-------------------, 1~ ------ --------------------- Massachusetts 6 - ---------- 1.4 1.2 United States 0.6 0.4 0 L.J._....,L_.J..._...J.._.J..._J__L-....L___l.----'----'---'---'----'---'---'--L....J---L__J 0.2 '--'----'---'---'--L....J---L----'----'---'---'---'----'--'---'--'-----'---'---'---' OCT82 OCT84 OCT86 OCT88 OCT90 OCT92 OCT94 OCT82 OCT84 OCT86 OCT88 OCT90 OCT92 OCT94 Source: New England Economic Indicators, Federal Reserve Bank of Boston. Chart 8 New England Economic Project Forecast Employment in New England and the United States Index, 1989 Q1 = 1 1.15 United States history forecast 1.10 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - New Hampshire 1.05 Maine Connecticut 0.95 0.85 1989:01 1990:01 1991:01 1992:01 1993:01 1994:01 1995:01 1996:01 1997:01 1998:01 1999:01 2000:01 Source: New England Economic Project and U.S. Bureau of Labor Statistics.

Cathy E. Minehan (1995, January 23). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19950124_cathy_e_minehan

@misc{wtfs_regional_speeche_19950124_cathy_e_minehan,
  author = {Cathy E. Minehan},
  title = {Regional President Speech},
  year = {1995},
  month = {Jan},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19950124_cathy_e_minehan},
  note = {Retrieved via When the Fed Speaks corpus}
}