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New York's job growth: A tale of two states
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| Contributor | IndyGeorgia |
| Last Edited | IndyGeorgia Dec 23, 2018 03:33pm |
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| Category | General |
| Author | Chad Arnold |
| News Date | Friday, December 21, 2018 08:30:00 PM UTC0:0 |
| Description | ALBANY - New York's unemployment rate continues to fall to a record low, but some regions of the state are still struggling a decade removed from the financial crisis.
The state's seasonally adjusted unemployment rate fell to 3.9 percent in November, the lowest of any year on record dating back to 1976, according to the state's Labor Department, which released its monthly report Thursday.
But a new report from the Empire Center, a fiscally conservative think-tank based in Albany, attributes the low unemployment numbers in part to an exodus from upstate municipalities and shows the state lagging behind the national average in private-sector job growth.
Job growth, according to the report, was a tale of two New Yorks: upstate and downstate.
Seventy-nine percent of New York's private sector jobs created in the last year were in or around the New York City area, including the Hudson Valley, the report said. Cities and counties upstate struggled to keep pace, with places like Elmira actually losing jobs. |
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