CNY unemployment rates fall in October compared to a year ago

Unemployment rates in the Syracuse, Binghamton, Utica–Rome, and Ithaca metro areas declined in October, 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 5.8 percent in October, down from the 6.8 percent figure posted in October 2013.

The unemployment rate in the Utica–Rome region was 5.9 percent in October, lower than 7 percent in the year-earlier period.

The unemployment rate in the Binghamton region fell to 5.9 percent in October from 7.1 percent a year ago, according to figures from the state Labor Department.

And, the jobless rate in the Ithaca area came in at 3.9 percent in October, down from 4.6 percent in October 2013.

Despite the drop in the local unemployment rates, the Syracuse, Utica–Rome, and Binghamton metro areas all lost jobs between October 2013 and this October, according to state Labor Department data released Nov. 20.

The Syracuse metro area lost 1,800 total jobs; Utica–Rome shed 900 positions; and the Binghamton region lost 300 jobs in the last year.

Unemployment rates falling while the number of jobs also declines usually indicate a shrinking labor force and/or declining labor-force participation.

The Ithaca region was the only Central New York metro area that gained jobs, 700, in the last 12 months, the department said.

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 The Business Journal at news@cnybj.com