Source: Federal Reserve Bank of Philadelphia
State Coincident Indexes as described on the FRB website.
The Federal Reserve Bank of Philadelphia produces a monthly coincident index for each of the 50 states. The indexes are released a few days after the Bureau of Labor Statistics (BLS) releases the employment data for the states. The Bank issues a release each month describing recent trends in the state indexes, with special coverage of the three states in the Third District: Pennsylvania, New Jersey, and Delaware.
The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic. The four state-level variables in each coincident index are
- nonfarm payroll employment,
- average hours worked in manufacturing,
- the unemployment rate, and
- wage and salary disbursements deflated by the consumer price index (U.S. city average).
Is it a coincident? (12/18/2011)