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Binghamton Unemployment Down from February of 2013

The unemployment rate in Binghamton dropped in February of this year compared to February of 2013. The latest numbers show Binghamton's unemployment rate to be 8.3 percent.

This compares to a 9.2 percent rate in February of 2013. Over the past year the sectors which saw the largest job gains locally were leisure and hospitality and private service providers.

The sector which saw the biggest losses was manufacturing. One labor analyst says the graying of baby boomers in this area is affecting the local unemployment picture.

"So we may have a good number of these individuals feeling a little bit more confident in their retirement savings so they may be stepping into retirement and this completely falling out of our labor force," said Regional Labor Market Analyst, Christian Harris.

The February unemployment rate Broome County was 8.2 percent. In Tioga County the rate was 8.6 percent.

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