Unemployment, labor force down in Binghamton region

By Candace Chapman

Credit: MGN Online

Unemployment, labor force down in Binghamton region

June 25, 2013 Updated Jun 26, 2013 at 12:57 AM EDT

Binghamton, NY (WBNG Binghamton) The May unemployment rate of 7.5 percent for the Binghamton Metropolitan Area is at a five-year low, according to New York State Labor Department analysts.

Unemployment is also down from 7.8 percent in April and down from 8.4 percent in May 2012.

Over the year, the number of private sector jobs almost held steady. There were 84,900 private sector jobs in May, a drop of 100.

Areas of strong job growth include professional, education and health services, as well as construction and mining, and leisure and hospitality industries.

Manufacturing continues to decline with 700 fewer positions since May 2012. Computer manufacturing alone declined by 1,000 jobs.

There has also been a decline of 2,100 people in the resident civilian labor force. The total labor force is now at 116,100, which includes 107,400 employed and 8,700 unemployed looking for work.

Labor department analyst Christian Harris said the decline in the workforce along with the unemployment rate could hint at population loss.

Harris also noted the five-year low in the unemployment rate is encouraging when it comes to recovery since the recession.

The New York state unemployment rate is 7.4 percent.