A sign that New York State's economic fortunes are on an uptick — some encouraging numbers have been released by the labor department.
State officials say New York's unemployment rate dropped from 7.7 percent in October to 7.4 percent in November, the lowest level in nearly five years. Career-transition expert Dan Moran with NextAct of Colonie says while the number may seem small, it is "significant." "That's a nice, healthy drop in the unemployment rate, and as well the number of new jobs that hit the market. We are seeing real job growth."
A new report on the status of workers finds the period since the 2008 market crash may turn out to be a “lost decade” for New Yorkers, as wages stagnate and the average time for unemployment lengthens.
New numbers indicate economic recovery from the Great Recession is underway upstate - with a few exceptions - for the most part, the latest jobs and unemployment numbers offer hope. Dan Moran, with career management firm NextAct of Colonie, says the job market has been flat but consistent.
State Labor Department analyst John Nelson said the economy is showing signs of improvement. At 7.4 and 7.7 percent respectively, Albany and Saratoga rank among the counties with the lowest unemployment rates in New York. Tompkins County, at 5.8 percent, was the lowest in the state.
New statistics released this week by the U.S. Bureau of Labor Statistics show that from June 2011 to June 2012 Saratoga County experienced the largest employment growth in New York State at 3.1 percent, with strong job growth in manufacturing and leisure and hospitality.
WAMC’s Patrick Donges spoke with Saratoga County Board of Supervisors Chairman Alan Grattidge for his reaction to the positive numbers