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(WNY) Officially released data for the Buffalo-Niagara Falls, NY, metro area suggest continuation of a decades-long trend of decline in manufacturing employment. This negative trend is possibly weakening, though, as an estimate for the overall number of people employed in manufacturing during 2013 on an annual basis is higher than a simple trend estimate would … Continue reading
(Analysis) This (final) quarter of 2013 and the first quarter of 2014 will probably bring reports of many “real” measures of economic performance back to par with levels achieved before the recession of 2008-9 (see graph at top left). This should be cause for some celebration, coming after about 6 years of continuously depressed measurements … Continue reading
(NYS) Recent analysis [pdf] of NYS subsidies to business in the form of tax credits and other give-aways of public money is gathering attention among tax-policy specialists and a highly acclaimed journalist from WNY. This analysis continues a decades-long trend showing that only very little or no benefit can be rightfully attributed to corporate welfare. … Continue reading
(Buffalo, NY) Statistics released this year in September by the BEA indicate that the economic recovery in the Buffalo metro area is relatively sluggish. Growth of private-sector real GDP for each full year of recovery since the recession of 2008-9 is lower in the Buffalo metro area than for all US metro areas as a … Continue reading
(NYS) The Federal Reserve Bank of New York (FRB-NY) released its monthly report [pdf] about results from the Empire State Manufacturing Survey on November 15. Their analysis shows that overall manufacturing conditions in NYS have weakened – the current general index is in fact negative, where a negative reading indicates worsening business conditions. The weakening … Continue reading
(Analysis) Good observations and discussion about analysis showing estimates of lost potential in the US economy is ongoing. The analysis [pdf] suggests that through disuse, US factors of production are deteriorating, causing a longer period of time when the total value of goods and services capable of being produced in the US economy is reduced. … Continue reading
(Analysis) A paper [pdf], presented by employees of the Federal Reserve at an annual conference sponsored by the IMF, is getting deserved attention in various media outlets. This is important, if the analysis in the paper is ever going to contribute to policy-making here in the US. What the analysis shows is that there is … Continue reading
(Analysis) Congress finally passed a bill this week that allowed the federal government both to reopen fully, and to borrow funds in order to pay for spending on programs already approved by Congress. After more than two weeks of brinkmanship, the solution to a crisis manufactured solely by Congress – especially by republicans in the … Continue reading
(WNY) A pro-business group, the Buffalo Niagara Partnership, announced its endorsement of a plan conceived by an anti-tax organization called Unshackle Upstate. Lower corporate franchise taxes in upstate NY and elimination of an energy assessment on manufacturers upstate are direct give-aways to business proposed in the plan. By Unshackle Upstate’s own estimates, these direct give-aways … Continue reading
(Buffalo, NY) Local politicians, business persons, and policy wonks have set their sites on (advanced) manufacturing as a pillar for local economic growth [pdf] – including growth of good-paying jobs. Unfortunately, wishful thinking tends to trump hard assessment of the facts. Whereas there has been an attempt to claim that employment in manufacturing is on … Continue reading
WNY Workers' Journal 
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