Source: Federal Reserve Bank of Philadelphia
Release: State Coincident Indexes
The Coincident Economic Activity Index includes four indicators: nonfarm payroll employment, the unemployment rate, average hours worked in manufacturing and wages and salaries. The trend for each state's index is set to match the trend for gross state product.
Federal Reserve Bank of Philadelphia, Coincident Economic Activity Index for California [CAPHCI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CAPHCI, March 28, 2023.