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The Federal Reserve Bank of New York regional outreach mission is to promote sustained economic vitality by leveraging the Bank’s strengths to benefit the people in the District. The New York Fed is also active in maintaining connections with the District’s people and key communities in order to inform Bank policy decisions and build support for sound monetary and regulatory policy.

FEATURES

Nonprime Mortgage Conditions in the United States Regional and Community Affairs at the New York Fed present various indicators for monitoring the condition of nonprime mortgage loans in the Second District and the United States.

Aging in Place in Upstate New York The latest issue of Upstate New York Regional Review finds that seniors may find it hard to "age in place" as they grow older because of a growing disparity between the features of the houses they own and the housing they need. Jane Humphreys, Upstate New York Regional Review (2) 2, 2007

Puerto Rico: Regional Geographic Profile Provides brief social, economic and demographic profiles of metropolitan areas in Puerto Rico.

Community Conditions in the Second District: Concentrated Poverty Describes economic conditions in areas of concentrated poverty in the Second District and innovative programs that address these conditions.

Publication Highlights

Trends and Developments in the Economy of Puerto Rico A two-year-long economic downturn and a persistent income gap with the U.S. mainland contribute to an uncertain outlook for Puerto Rico. Still, the commonwealth possesses a skilled and educated workforce, a favorable business climate, and the benefits of U.S. legal and financial structures—advantages that could encourage the development of new industries and create the potential for sustained growth. By Jason Bram, Francisco E. Martínez, and Charles Steindel, Current Issues in Economics and Finance Second District Highlights, (14) 2 March 2008

Job Growth in New York and New Jersey: Mid-2007 Review and Outlook The authors expect that job growth in the second half of 2007 will be similar in New York State and New Jersey—0.9 percent and 0.7 percent, respectively—while New York City will lead the region, growing about 1.5 percent fueled by a continued expansion of services sector jobs. By Jason Bram, James Orr, and Rae Rosen, Current Issues in Economics and Finance Second District Highlights (13) 7, August 2007

The Demand for Local Services and Infrastructure Created by an Aging Population The authors find that demand for age-related services and infrastructure will increase with a growing senior population in upstate New York. By Richard Deitz and Ramon Garcia, Upstate New York Regional Review (2) 1, 2007