Rochester Business Journal Leading source of business news and information in Rochester, N.Y.

This year, as in prior years, the institute computes an Index of Business Leader Confidence based on four questions by which CEOs assess the economy of New York — both current and future — as well as the current and future conditions within their industry.

In an analysis of state-by-state U.S. Bureau of Labor Statistics data by the ABC, unemployment in the state dropped to 5.4 percent from 7.1 percent.

When it comes to the best opportunities for commercial real estate in the Rochester region in the next few years, the sky truly remains the limit.

Tagged with: CBRE commercial real estate GRAR

The past three years have certainly demonstrated that we must all be financially prepared for unexpected changes to stay on course with our goals — and to stay ahead of potential issues.

Tagged with: comercial real estate real estate

The Fed’s biggest enemy today is the labor market. Given that we have seen prices start cooling in many sectors of the market, the remaining piece of the puzzle is wage growth. While wage growth has cooled since July, it is still up more than 6% over the last 12-months. While wage growth is fantastic for the employee, the issue is it is sticky and can get baked into prices over time; meaning while we are seeing prices cool now, if wages were to continue rising it is likely we would need to see a subsequent increase in prices in order to offset labor costs.

New York will make targeted investments to spur economic opportunity and innovation, tie minimum wage increases to inflation and create 800,000 new homes over the next decade under proposals introduced by Gov. Kathy Hochul during her State of the State address on Tuesday afternoon.

New York will continue with the $15.00 minimum hourly wage phase-in for upstate counties on Dec. 31, Gov. Kathy Hochul announced this week.  Workers outside of New York City, Long Island and Westchester County will see an increase by $1.00 ...

Home sales in the Rochester area are forecasted to increase by just 1.3 percent in 2023 while prices are expected to rise by 5.3 percent as higher mortgage rates and inflation pains continue to impact consumers. The predictions, made in ...

Closed sales on houses in Monroe County plunged 27 percent in October compared to the same period in 2021.

No one knows when international stocks will begin to outperform U.S. stocks, but few would argue that they shouldn’t be included in a well-diversified investment portfolio, regardless of when that day might come.

Tagged with: economy track

If there is a positive aspect for investors during these inflationary times, it just could be the old standby gifts of grandparents to newborns: U.S. Savings Bonds.

Tagged with: i bonds series I bonds U.S. savings bonds

While more consumers believe home prices will decline in the next year, they also expect mortgage rates to continue to climb.

Tagged with: Fannie Mae Home Purchase Sentiment Index

A little normalcy continues to return to the housing market, with the average home taking longer to sell while a larger percentage of listing prices are being reduced.

Tagged with: real estate

The group of 13 partners — led by SUNY Binghamton — secured more than $63.7 million to establish upstate New York as a national hub for battery research and manufacturing. The state has committed another $50 million toward the project.

Tagged with: battery Battery Prototyping Center Build Back Better Initiatives lithium-ion Matt Ganter RIT

With $25.3 billion allocated for operations support and $3.2 billion for taxpayer services, the IRS will get a much needed shot in the arm to provide taxpayers with more responsive, efficient service.

Tagged with: Anthony Scinto Inflation Reduction Act of 2022 IRS President Biden Taxpayer Advocacy Services (TAS) Treasury Department