Southern Tier's economic forecast bleak
2/5/2013 (Updated 2/6/2013 4:11:10 PM)Will Binghamton ever recover from the economic recession? One forecaster says maybe not.
Christian Harris, Local Market Analyst for the New York Department of Labor, said that while national job numbers are up over 1.5% this year, the Southern Tier is down as much as a 0.5%. Harris says the shift in local jobs is going to education and health care as opposed to the once-strong manufacturing and government presence in the area.
"Manufacturing, we're probably going to see more erosion within the industry segment nationwide, definitely locally, but it's still a relevant industry," Harris said. "Another hindrance to us locally will be our local government, largely municipalities and school districts. Budget constraints are still there, so everyone is anticipating more cuts and more than likely it will lead to smaller staffing."
Harris said that the nation could get back to pre-recession job numbers late this year or early 2014, while Binghamton would recover later, if at all.
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