Binghamton Unemployment at Six Year Low
5/20/2014 (Updated 7:37:13 PM)Unemployment is at a six-year low in Binghamton, with the jobless rate at 6.1 percent for April.
The number of unemployed people in the Binghamton area dropped from 8,800 in April of 2013 to 6,900 in April of 2014.
There were encouraging signs but the number of jobs in the area also dropped over the past year by 600.
This tells economists that the drop in the unemployment rate is still due in part to discouraged workers no longer looking for jobs.
"There's a whole lot of things going on there. There is the discouraged workers that have either seen the demand for labor isn't robust enough or their skills don't match the opportunities that are out there," said New York State Department of Labor analyst Christian Harris.
Some good news for the Binghamton area is that private-sector job increases have outpaced gains in public-sector jobs over the past year.
Leisure and hospitality is the sector that gained the most jobs locally in the past year.
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