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SF Fed Economic Trends - Federal Reserve Bank of San …SF Fed Economic Trends June 2014 3 Federal...
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SF Fed Economic Trends June 2014 1 Federal Reserve Bank of San Francisco Economic Research Department High-tech Watch
Transcript of SF Fed Economic Trends - Federal Reserve Bank of San …SF Fed Economic Trends June 2014 3 Federal...
SF Fed Economic Trends
June 2014 1Federal Reserve Bank of San Francisco
Economic Research Department
High-tech Watch
SF Fed Economic Trends
June 2014 2Federal Reserve Bank of San Francisco
Economic Research Department
12th District Overview
SF Fed Economic Trends
June 2014 3Federal Reserve Bank of San Francisco
Economic Research Department
12th District Overview
U.S. 12th U.S. 12thManufacturing 0.4 4.1 Total, to all countries 2.8 6.9
IT 3.1 2.8 NAFTA 3.0 1.8Durable (ex. IT) -3.8 -1.7 East Asia 16.2 17.3Nondurable 3.8 12.6 EU 6.6 6.8
Agricultural products 16.4 6.6
Source: Global Trade Information Services, Inc.
Merchandise export growth, by selected industries
(Year-to-date relative to same period a year earlier)
Apr-14
Merchandise export growth, by destination country
(Year-to-date relative to same period a year earlier)
Apr-14
SF Fed Economic Trends
June 2014 4Federal Reserve Bank of San Francisco
Economic Research Department
Alaska • Oregon • Washington
Employment by IndustryTotal Employed Total Employed
(thousands) (thousands)
Apr-14 1-mo.a 3-mo.a YTD a 12-mo. Apr-14 1-mo.a 3-mo.a YTD a 12-mo.
Alaska Washington
Total 338.4 7.4 0.5 -0.4 0.4 Total 3,039.0 3.1 2.9 2.8 2.2
Natural Resources & Mining 18.1 14.3 2.2 5.1 3.4 Natural Resources & Mining 6.2 0.0 -11.9 0.0 3.3
Construction 17.0 -6.8 -16.8 -6.7 3.0 Construction 153.3 9.9 7.4 10.9 4.3
Manufacturing 16.3 171.1 35.8 -10.3 10.9 Manufacturing 287.0 -0.8 4.0 2.8 0.1
Trade, Transportation & Utilities 64.6 -1.8 2.5 0.5 1.3 Trade, Transportation & Utilities 563.5 5.3 3.9 2.5 3.1
Information 6.2 -17.5 -6.2 0.0 1.6 Information 108.8 3.4 4.1 6.3 2.8
Financial Activities 11.9 10.7 -9.5 -2.5 -3.3 Financial Activities 150.5 -3.9 -0.8 -1.2 0.9
Professional & Business Svcs. 29.8 4.1 -2.6 1.0 -1.7 Professional & Business Svcs. 368.9 6.7 9.7 4.1 2.8
Educational & Health Svcs. 46.9 -9.7 -0.8 -3.7 -0.6 Educational & Health Svcs. 446.9 3.3 0.4 2.7 2.4
Leisure & Hospitality 33.9 15.3 4.9 3.6 1.2 Leisure & Hospitality 294.8 2.9 3.3 3.9 3.5
Other Services 11.5 11.0 -3.4 5.4 -2.5 Other Services 113.6 14.8 0.4 1.1 2.5
Government 82.2 7.6 -0.5 0.7 -1.2 Government 545.5 -1.5 -0.7 0.4 0.5
Oregon
Total 1,716.4 4.4 4.1 3.5 3.0 Unemployment Rates (%)
Natural Resources & Mining 7.7 -14.3 -5.0 -3.8 1.3
Construction 79.4 -12.7 12.5 17.2 8.2 Apr-14 Mar-14 Feb-14 Jan-14 Apr-13
Manufacturing 177.9 0.7 3.0 3.3 1.9
Trade, Transportation & Utilities 324.9 6.5 1.1 1.3 2.6 Alaska 6.4 6.6 6.5 6.4 6.4
Information 32.9 16.8 1.7 0.3 3.1 Oregon 6.9 6.9 6.8 7.0 7.9
Financial Activities 90.9 -11.2 3.1 0.7 -0.4 Washington 6.1 6.3 6.3 6.4 7.1
Professional & Business Svcs. 217.4 9.3 7.1 5.1 4.9
Educational & Health Svcs. 249.7 8.0 9.5 6.1 3.2 U.S. 6.3 6.7 6.7 6.6 7.5
Leisure & Hospitality 182.3 7.5 2.7 3.5 3.8
Other Services 60.8 10.4 4.7 5.1 5.0 Note: Unemployment rates are from the household employment survey; all other
Government 292.3 3.3 0.4 0.1 1.3 data are for nonagricultural payroll employment. All data are seasonally adjusted.
a Annualized. Source: Bureau o f Labor Statistics.
Percent Change Percent Change
SF Fed Economic Trends
June 2014 5Federal Reserve Bank of San Francisco
Economic Research Department
Alaska • Oregon • Washington
Apr-14* 2013 Apr-14** 2013 2012
Alaska 1.1 4.5 -2.4 -1.4 -11.1
Oregon 6.0 16.7 13.7 1.4 0.2
Washington 27.1 78.6 16.0 8.1 17.8
* Year-to -date values; **Year-to -date relative to same period a year earlier.
Export update
$ billions Percent Change
Source: Census FT900 Supplement, Origin o f M ovement Series.
SF Fed Economic Trends
June 2014 6Federal Reserve Bank of San Francisco
Economic Research Department
Arizona • California • Hawaii
Employment by IndustryTotal Employed Total Employed
(thousands) (thousands)
Apr-14 1-mo.a 3-mo.a YTD a 12-mo. Apr-14 1-mo.a 3-mo.a YTD a 12-mo.
Arizona California
Total 2,550.3 -0.1 -0.4 0.9 1.6 Total 15,424.6 4.5 3.5 2.0 2.3
Natural Resources & Mining 13.5 0.0 3.0 2.3 1.5 Natural Resources & Mining 31.3 3.9 8.0 6.0 1.0
Construction 123.1 -19.1 -7.4 -5.2 0.5 Construction 672.8 13.6 15.4 8.7 6.2
Manufacturing 154.9 -1.5 -1.0 0.8 -0.3 Manufacturing 1,249.5 0.0 -0.8 -0.5 -0.3
Trade, Transportation & Utilities 486.2 -2.9 -2.6 -2.8 1.9 Trade, Transportation & Utilities 2,843.0 2.5 2.3 0.1 1.9
Information 41.7 5.9 2.9 0.7 0.5 Information 458.5 -9.7 6.7 -3.3 3.2
Financial Activities 191.7 5.1 -0.8 0.9 4.8 Financial Activities 780.7 4.4 0.4 0.7 -0.5
Professional & Business Svcs. 378.9 -1.3 -0.8 5.9 1.9 Professional & Business Svcs. 2,408.9 6.1 4.5 4.7 3.9
Educational & Health Svcs. 384.8 0.3 2.5 4.0 3.2 Educational & Health Svcs. 2,375.1 10.3 6.0 4.8 3.8
Leisure & Hospitality 280.7 5.3 4.4 2.9 2.7 Leisure & Hospitality 1,707.6 9.9 4.8 2.0 2.7
Other Services 87.7 19.6 5.2 -2.7 0.5 Other Services 523.5 2.6 1.3 3.1 1.7
Government 407.1 0.6 -2.2 -0.4 -1.1 Government 2,373.7 -0.8 0.9 -0.4 0.4
Hawaii
Total 623.5 6.6 1.4 0.0 1.0
Natural Resources, Mining & Constr 32.1 -25.6 -12.6 5.9 5.9
Manufacturing 13.7 30.3 7.2 -0.7 2.3 Apr-14 Mar-14 Feb-14 Jan-14 Apr-13
Trade, Transportation & Utilities 116.2 2.1 -1.0 -5.2 -0.5
Information 8.6 19.5 -0.6 6.9 1.1 Arizona 6.9 7.3 7.3 7.5 8.0
Financial Activities 27.5 -4.3 4.5 3.3 1.5 Haw aii 4.4 4.5 4.6 4.6 4.8
Professional & Business Svcs. 79.4 -1.5 0.5 -2.6 0.0 California 7.8 8.1 8.1 8.1 9.1
Educational & Health Svcs. 79.6 9.5 2.6 2.7 0.9
Leisure & Hospitality 113.3 18.6 2.5 3.8 2.8 U.S. 6.3 6.7 6.7 6.6 7.5
Other Services 27.6 -8.3 -12.0 0.0 4.2
Government 126.9 7.9 4.2 2.4 0.9 Note: Unemployment rates are from the household employment survey; all other
data are for nonagricultural payroll employment. All data are seasonally adjusted.
a Annualized.
Percent Change Percent Change
Unemployment Rates (%)
Source: Bureau of Labor Statistics.
SF Fed Economic Trends
June 2014 7Federal Reserve Bank of San Francisco
Economic Research Department
Arizona • California • Hawaii
Apr-14* 2013 Apr-14** 2013 2012
Arizona 5.1 15.2 6.1 4.9 5.0
California 44.3 130.9 8.3 5.0 1.9
Haw aii 0.3 0.6 115.2 -18.2 -15.8
* Year-to -date values; **Year-to-date relative to same period a year earlier.
Export update
$ billions Percent Change
Source: Census FT900 Supplement, Origin of M ovement Series.
SF Fed Economic Trends
June 2014 8Federal Reserve Bank of San Francisco
Economic Research Department
Idaho • Nevada • Utah
Employment by IndustryTotal Employed Total Employed
(thousands) (thousands)
Apr-14 1-mo.a 3-mo.a YTD a 12-mo. Apr-14 1-mo.a 3-mo.a YTD a 12-mo.
Idaho Utah
Total 643.9 5.0 3.4 2.7 0.8 Total 1,322.7 5.3 5.4 4.5 3.0
Natural Resources & Mining 4.0 0.0 10.7 0.0 -4.8 Natural Resources & Mining 12.5 0.0 10.2 5.0 0.8
Construction 34.6 -3.4 -1.1 17.4 2.1 Construction 79.1 23.9 10.8 16.8 8.4
Manufacturing 60.1 2.0 2.7 0.5 0.7 Manufacturing 122.0 2.0 4.4 4.8 2.6
Trade, Transportation & Utilities 130.9 2.8 5.0 2.1 1.5 Trade, Transportation & Utilities 253.7 -0.5 6.1 6.3 3.5
Information 9.7 13.2 4.2 13.5 2.1 Information 33.9 -13.1 -4.6 2.7 5.3
Financial Activities 30.7 31.9 1.3 5.0 -1.6 Financial Activities 72.8 0.0 -1.6 -5.9 1.1
Professional & Business Svcs. 74.8 -12.0 -0.5 -7.6 -2.7 Professional & Business Svcs. 177.5 0.0 -0.7 1.7 0.9
Educational & Health Svcs. 93.6 2.6 6.2 6.7 2.6 Educational & Health Svcs. 174.0 7.9 6.7 1.9 2.2
Leisure & Hospitality 63.7 28.1 -3.1 5.4 0.6 Leisure & Hospitality 129.9 16.0 15.9 8.5 6.1
Other Services 21.6 48.5 14.1 2.8 -0.9 Other Services 37.9 -6.1 16.2 9.2 3.3
Government 120.2 1.0 5.9 1.8 1.8 Government 229.4 11.7 3.6 3.2 1.9
Nevada
Total 1,212.9 3.0 4.4 5.1 3.8
Natural Resources & Mining 15.1 -7.6 -9.9 -5.7 -2.6
Construction 62.6 36.4 15.4 23.8 9.4 Apr-14 Mar-14 Feb-14 Jan-14 Apr-13
Manufacturing 41.4 -2.9 4.0 3.0 3.0
Trade, Transportation & Utilities 227.8 -9.0 -0.7 -2.7 3.7 Idaho 5.0 5.2 5.3 5.4 6.4
Information 12.8 1.9 1.4 3.2 0.3 Nevada 8.0 8.5 8.5 8.7 10.1
Financial Activities 57.4 -4.1 5.0 6.0 1.1 Utah 3.8 4.1 3.9 3.9 4.5
Professional & Business Svcs. 161.8 11.0 12.8 15.1 7.9
Educational & Health Svcs. 115.0 15.8 1.1 1.3 4.1 U.S. 6.3 6.7 6.7 6.6 7.5
Leisure & Hospitality 333.0 1.8 2.6 5.4 3.3
Other Services 34.3 23.6 21.1 20.9 2.7 Note: Unemployment rates are from the household employment survey; all other
Government 151.9 -2.3 4.0 1.6 1.3 data are for nonagricultural payroll employment. All data are seasonally adjusted.
a Annualized.
Percent Change Percent Change
Unemployment Rates (%)
Source: Bureau of Labor Statistics.
SF Fed Economic Trends
June 2014 9Federal Reserve Bank of San Francisco
Economic Research Department
Idaho • Nevada • Utah
Apr-14* 2013 Apr-14** 2013 2012
Idaho 1.3 3.6 9.1 -5.2 -7.5
Nevada 2.1 7.4 -18.8 -17.1 27.8
Utah 3.8 15.1 -32.2 -17.3 -0.3
* Year-to-date values; **Year-to-date relative to same period a year earlier.
Export update
$ billions Percent Change
Source: Census FT900 Supplement, Origin of M ovement Series.
