The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
The upstate New York economy has been undergoing significant restructuring, with job gains in services sectors such as health care, education, business services, and leisure and hospitality offsetting losses in manufacturing. A modest upward trend is continuing in 2007, with the creation of 20,000 net new jobs—but results will be mixed across upstate metro areas. This issue of Upstate New York At-a-Glance reviews recent employment trends, highlights industry and area developments, and presents an outlook for the year.