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Regional Economic Indicators

We monitor a variety of indicators that speak to the economic health of the Ninth District. We collect and share this data to assess current economic conditions.

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Ninth District Data Focus

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Inflation

The Consumer Price Index for All Urban Consumers (CPI-U) measures the average change in prices paid by consumers for everyday goods and services over time. Tracking the CPI at a regional level can inform us about differences in inflation within the United States.

Employment & Labor Markets

Job opening rate vs. hiring rate

The job opening rate measures the percent of job positions that are currently vacant while the hiring rate measures the percent of workers hired to fill these positions. A gap between hires and job openings indicates an imbalance between the number of available workers and the number of open jobs.

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Business conditions

These data are drawn from a monthly survey conducted by the Federal Reserve Bank of Minneapolis. Responses come from a list of business owners and/or managers in a variety of industry sectors from across the Ninth District, who have volunteered to share information with the Minneapolis Fed via electronic survey. Contacts are asked to report on a consistent set of business metrics each month, indicating whether they have increased, decreased, or remained unchanged relative to the previous month, and to report about their expectations for the month ahead. Results are summarized here as the net share of those reporting whether an indicator increased.

Ninth District Surveys

1 – 12 of 188

Tractor driving through a farm field
Farm incomes flattened heading into summer
Joe Mahon | Director, Regional Outreach
August 29, 2023
Data
Farming field in the spring
District farmers head into planting in solid financial condition, but outlook is uncertain
Joe Mahon | Director, Regional Outreach
May 11, 2023
Data
decorative key
Businesses cautiously optimistic despite high costs and continued labor challenges
Haley Chinander | Research Assistant
February 27, 2023
Data
Tractor moving up a hill, money silhouetted in the background
Another strong finish to the year for Ninth District farmers
February 15, 2023
Data
Manufacturing workers
District manufacturers expect a steady 2023 after a year of moderate growth
Joe Mahon | Director, Regional Outreach
January 13, 2023
Data
increasing profits during the harvest
Farm incomes held up through harvest season
Joe Mahon | Director, Regional Outreach
November 10, 2022
Data
Tractor in a field in the foreground, symbols for rising inflation in the background
Farm finances remained strong into summer, despite input cost inflation
Joe Mahon | Director, Regional Outreach
August 11, 2022
Data
Tractor planting a field laid over a chart representing income and land value growth
Farm incomes strong, land values soar heading into planting season
Joe Mahon | Director, Regional Outreach
May 18, 2022
Data
Tractor moving up a hill, money silhouetted in the background
2021 ended strong for farmers
Joe Mahon | Director, Regional Outreach
March 4, 2022
Data
decorative key image
District manufacturers had a strong year amid supply chain challenges, remain positive for 2022
Joe Mahon | Director, Regional Outreach
February 2, 2022
Data
Decorative key image
Even with severe drought and supply chain woes, farms remain in good financial shape
Joe Mahon | Director, Regional Outreach
November 17, 2021
Data
Brown cow in a dried pasture
Farm finances held up into summer, despite drought concerns
Joe Mahon | Director, Regional Outreach
August 12, 2021
Data

Endnotes

1 The economies of the Ninth District states vary in size, which makes it hard to compare different indicators without first indexing each state’s data. Indexing is the practice of setting each state’s data equal at a certain point and then measuring relative to that value over time. This allows us to compare growth between states rather than just the size of the indicator in each state. For a month in-depth overview on indexing, please click here.

2 The economies of the Ninth District states vary in size, which makes it hard to compare different indicators without first indexing each state’s data. Indexing is the practice of setting each state’s data equal at a certain point and then measuring relative to that value over time. This allows us to compare growth between states rather than just the size of the indicator in each state. For a month in-depth overview on indexing, please click here.
Farm employees are not included from this measurement by the Bureau of Labor Statistics because of the difficult nature of accurately measuring employment levels in the agricultural workforce.

* While the Upper Peninsula of Michigan is part of the Ninth District, the data for Michigan are not included here due to the majority of the state’s economic output and population being outside of the Ninth District.