Unemployment rates in the Syracuse, Utica– Rome, Watertown–Fort Drum, Binghamton, Ithaca, and Elmira regions rose in March compared to a year ago as the economic effects of the COVID-19 pandemic began to materialize. The figures are part of the latest New York State Department of Labor data released April 21. The department indicated that the […]
Unemployment rates in the Syracuse, Utica– Rome, Watertown–Fort Drum, Binghamton, Ithaca, and Elmira regions rose in March compared to a year ago as the economic effects of the COVID-19 pandemic began to materialize.
The figures are part of the latest New York State Department of Labor data released April 21. The department indicated that the worst is yet to come.
“While these data broadly reflect the impact of the coronavirus pandemic and related public-health efforts on the state’s labor market, it is important to note the March reference period for this survey occurred before many coronavirus-related business and school closures were implemented. In addition, data-collection rates were lower than normal due to coronavirus-related challenges. As a result, the scope of coronavirus-related unemployment from March is not fully reflected in these figures,” the state Labor Department said in its report.
New York state’s seasonally adjusted unemployment rate rose from 3.7 percent in February to 4.5 percent in March. The 0.8 percentage point change was the state’s largest recorded monthly increase, “since at least 1976.” In addition, the number of unemployed New York State residents rose by 73,900, while labor-force levels dropped by 132,300 — “both monthly records,” per the state Labor Department. That’s according to the latest monthly employment report that the department issued April 16.
The April 16 data also indicates that the Syracuse area was the only CNY region that had more jobs (only 100 more) in March 2019 relative to a year ago. The Utica–Rome, Binghamton, Watertown–Fort Drum, Ithaca, and Elmira area all lost jobs in March compared to a year prior.
Regional unemployment rates
The jobless rate in the Syracuse area was 4.9 percent in March, up from 4.6 percent a year earlier.
The Utica–Rome region’s rate rose to 5.1 percent from 4.8 percent; the Watertown–Fort Drum area posted 7.5 percent unemployment, up from 6.4 percent; the Binghamton region’s rate hit 5.6 percent compared to 5 percent a year prior; the Ithaca area’s jobless rate edged up to 3.7 percent from 3.5 percent; and the unemployment rate in the Elmira region was 4.9 percent in March, up from 4.4 percent 12 months ago.
The local-unemployment data isn’t seasonally adjusted, meaning the figures don’t reflect seasonal influences such as holiday hires.
