Good Economic News for State--Not so Good for Binghamton
10/18/2012 (Updated 10/19/2012 8:21:24 AM)Some good follow-up news for New York State on the economic front.
In September the state's economy added 29 hundred private sector jobs, bringing the total of jobs added for the state in 2012 to 107,200 private sector jobs.
That means that New York has now regained all the private sector jobs lost during the recession.
However, the same report from the State Department of Labor shows that the Binghamton area lost 300 private sector jobs between September of last year and September of this year. Other metro areas that lost jobs include Elmira, Kingston, and Buffalo-Niagara Falls.
But despite the loss in Binghamton, does the boost state-wide indicate that there will be more jobs created in the Binghamton area? Economist Christian Harris says it might, at least for awhile.
"We expect a decent holiday hiring season but we won't see any substantial sustained growth probably until into next year, and hopefully that will lead to an erosion of the unemployment rate, which is still at an uncomfortably high level," said Christian Harris the Regional Labor Market Analyst.
Harris says New York is one of just five states in the country that have regained all the jobs lost when the economy went into recession in 2009.
The boost also brings the state's total private-sector job count to an all-time high of seven million, 337 thousand jobs.
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