Department of Labor statistics show Binghamton’s economy recovering faster than New York’s

Home   /   Department of Labor statistics show Binghamton’s economy recovering faster than New York’s

first_img(WBNG) — While the coronavirus has continued to wreak havoc on our economy, the Binghamton-area is doing better than most. Even though the unemployment rate dropped about four and a half percent over the past month, since May 2019, unemployment has skyrocketed by more than 175%. The average unemployment rate in the state was 14.5%. Other industries that added jobs over the past month include leisure and hospitality, trade and non-farm jobs as a whole. The public sector, including government and education, lost jobs in the Binghamton Metro Area in May.center_img The New York State Department of Labor says the Binghamton Metro Area had an unemployment rate of 10.6% in May, which was the third lowest unemployment rate of the 18 metro areas in New York. While the Department of Labor told 12 News it couldn’t say for sure why Binghamton had a relatively low rate, department statistics show the area did see a big boost in service jobs from April to May.last_img

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