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Latest Unemployment Numbers

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The latest employment numbers show a continuing trend in Binghamton - the unemployment rate is going down but so is the number of people in the local workforce. The unemployment rate for Binghamton in august was 5.4%. That's the lowest August total since 2008 and compares to 6.2% in August of 2014. But the total local labor force was 110,400 people in August. That's down 1,000 workers over the past year. It's also the lowest total for the area since at least 1990 when the department of labor has kept such statistics. "Our labor force is still shrinking, so less engaged individuals. Although we'd like to blame it largely on the boomers we do have some disengagement of those who would otherwise be eligible to work," said NYS Department of Labor analyst Christian Harris.
Harris points to the upcoming construction of Binghamton University's pharmacy school and potential move of it's nursing school to Johnson City as positive signs of economic activity. He also sees promise if the southern tier is able to win $500 million in economic development money from the state in the Upstate Revitalization Initiative.