Photo: Federal Reserve
Every month, the Federal Reserve of Philadelphia releases a State Coincident Index measurement for every U.S. state.The index employs four state-level economic indicators to summarize each state’s current economic condition in an easy-to-understand format. Those four variables include nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wages.
Basically, when a state is in blue or green, it’s doing well. When it’s in red, it’s doing badly.
The recovery was looking nice and green… until about June of this year.
The time series starts when everything was fine, in June of 2005, and goes until now.