Unemployment is rising in New York state and the South

ELMIRA, N.Y. (WETM) – A new report from the New York State Department of Labor shows that the state’s unemployment rate rose in August from 4.1% to 4.4%. In the southern tier, the unemployment rate rose from 3.3% to 3.6%. In August 2022, the unemployment rate in the southern tier was still down 3.7% year over year. Many economists consider an unemployment rate below 5% to be “full employment.” All of the largest Southern Tier regions had unemployment rates lower than the statewide rate, except for Elmira and Binghamton, the report said. The report analyzes cities with a population of more than 25,000 people.

The report said the city of Elmira’s unemployment rate rose from 4.9% in July to 5.3% in August.

In Binghamton, it rose from 4.2% to 4.7%.

In the city of Soyuz, it grew from 3.3% to 3.7%.

In the city of Vestal, it grew from 3.7% to 4.1%.

In the city of Ithaca, it rose from 3.5% to 3.9%.

Countywide, Chemung County’s unemployment rate rose from 3.6% in July to 3.9% in August.

In the Steuben district, it grew from 3.2% to 3.6%.

In Schuyler County, it rose from 2.9% to 3.1%.

The report states that “over the past year, 2,800 non-agricultural jobs were created in the region. The number of private sector jobs increased by 2,600, while the public sector increased by 200. 3,800 new jobs were in private education, health care, and leisure and hospitality.

The largest job losses were in: natural resources, mining and construction, professional and business services, financial activities, manufacturing, trade, transportation and utilities.

You can read the full August Labor Market Briefing from the New York State Department of Labor below.