Cayuga County's November unemployment rate reached its highest level in 15 years, according to the latest figures from the state Department of Labor.
The county's 6.3 percent jobless rate had not been higher in November since 1993, when it reached 7.0 percent for that month. The rate was the highest for any month in Cayuga County since February 2004, when it was also 6.3 percent.
The unemployment rate was 4.1 percent in November 2007, and 5.6 percent in October of this year.
The county's weak job market is hardly unique. Statewide unemployment reached 5.9 percent, up from 4.4 percent in the same month a year ago and 5.4 percent in October.
“Most labor market indicators suggest conditions in New York state's economy continued to deteriorate in November,” said Peter A. Neenan, director of the Labor Department's Division of Research and Statistics.
Employers within Cayuga County reported 26,700 jobs, 100 fewer compared with November 2007. The manufacturing sector lost 200 jobs during the past year, while both the professional and business services category and leisure and hospitality sector showed gains.
The number of unemployed Cayuga County residents grew to 2,600, an increase of 900 more than the past year.
Cayuga County has experienced year-over-year unemployment rate increases every month in 2008, and the size of the increases has generally grown bigger.
The November increase of 2.2 percentage points in the biggest jump of the year.
The unemployment rate was 4.1 percent in November 2007, and 5.6 percent in October of this year.
The county's weak job market is hardly unique. Statewide unemployment reached 5.9 percent, up from 4.4 percent in the same month a year ago and 5.4 percent in October.
“Most labor market indicators suggest conditions in New York state's economy continued to deteriorate in November,” said Peter A. Neenan, director of the Labor Department's Division of Research and Statistics.
Employers within Cayuga County reported 26,700 jobs, 100 fewer compared with November 2007. The manufacturing sector lost 200 jobs during the past year, while both the professional and business services category and leisure and hospitality sector showed gains.
The number of unemployed Cayuga County residents grew to 2,600, an increase of 900 more than the past year.
Cayuga County has experienced year-over-year unemployment rate increases every month in 2008, and the size of the increases has generally grown bigger.
The November increase of 2.2 percentage points in the biggest jump of the year.
Citizen
Hot Jobs
New! Off the Menu
The Citizens' Say
Post your comment - click hereThere are 1 comment(s)
spatrx wrote on Dec 20, 2008 6:30 AM: