Unemployment rates in the Syracuse, Binghamton, Utica–Rome, Ithaca, and Watertown–Fort Drum metro areas fell in June, compared to a year ago, according to the latest New York State Department of Labor data released Tuesday.
The jobless rate in the Syracuse area was 5.4 percent last month, down from 6 percent in June 2014.
The unemployment rate in the Utica–Rome region was 5.3 percent in June, off from the 5.9 percent figure posted in the year-earlier period.
(Sponsored)
Insurance Rates: What is really going on with these premiums and why they seem to be increasing!
This is a question we continuously get asked at CH Insurance. Clients with a good loss history, timely payments, excellent credit, and very good policies and procedures. All across the
CECL Accounting Standard: What You Need to Know
The Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 326, Financial Instruments-Credit Losses, became effective for all entities on January 1, 2023. This accounting standard introduces the current expected
The jobless rate in the Watertown–Fort Drum area fell to 5.9 percent in June, from 6.8 percent in June 2014.
The unemployment rate in the Binghamton region dropped to 5.8 percent in June from 6.3 percent a year ago.
The jobless rate in the Ithaca region was 4.6 percent in June, down from the 4.7 percent rate in June 2014.
The Syracuse, Utica–Rome, and Ithaca regions gained jobs between June 2014 and this past June.
At the same time, the Binghamton and Watertown-Fort Drum regions lost jobs in that same 12-month period, despite posting lower unemployment rates.
Jobless rates falling while the number of jobs also decline usually indicate a shrinking labor force and/or declining labor-force participation.
The local-unemployment data isn’t seasonally adjusted, meaning the figures don’t reflect seasonal influences such as holiday hires.
The unemployment rates are calculated following procedures prescribed by the U.S. Bureau of Labor Statistics, the New York Labor Department said.
Contact Reinhardt at ereinhardt@cnybj.com
