May 30, 2017
BUFFALO, NY - The U.S. economic recovery continues at a steady, if unspectacular, pace. Unemployment rates have fallen to the range generally proclaimed to be “maximum employment consistent with stable prices.” Inflation rates are low in relative terms and within the acceptable range. Income and earnings growth has been slow, but the growth in employment has spread the benefits of the recovery across most economic classifications. The Fed is proceeding with a slow upward adjustment of federal funds rates.
Within the Western New York region employment growth continues, though at rates substantially lower than those occurring throughout the rest of the US. The latest edition of WNY Economic News offers insights as to why.
