I'd characterize the local economy as relatively strong over all. Commercial real estate, the securities industry, and thus personal income and tax revenues, and, to a lesser extent, the labor market are all showing signs of strengthening. The housing market has shown some signs of cooling recently, but remains pretty strong in terms of levels.

Jason Bram

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It's not disastrous, but it suggests pretty sluggish growth. The state unemployment rate has pretty much trended upward since May.

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