Data suggests Binghamton area not seeing growth, still focuses o

Data suggests Binghamton area not seeing growth, still focuses on a positive

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(WBNG) -- The Federal Reserve Bank of New York released its latest analysis on employment trends across our state. 

The Federal Reserve Bank of New York is an institution that helps maintain the nation's payment systems. Those who work there released their own findings about economic growth across New York State during a briefing Thursday. 

"The goal of the press briefing is to provide an update on economic conditions around the second district, which includes New York State, Northern New Jersey, Fairfield County, and Puerto Rico and the Virgin Islands," Jaison Abel, a Research Officer and Function Head at the Federal Reserve Bank of New York, told 12 News. 

The analysis uses data from the bureau of labor statistics.  The Southern Tier is one of the areas included in research about job growth in the last year.  

"You can see most places in Upstate New York have seen little to no job growth and that's true in places like Western New York, parts of the Southern Tier," Abel said during the briefing.  

The findings suggest the Greater Binghamton Region has seen little-to-no growth in the past year. Still, those doing the research say that might not be such a bad thing. 

"The fact that we've seen some leveling out and stabilization in that part of the region is actually an encouraging sign," Abel explained. 

The researchers say stability is good for the Binghamton area, which they say has suffered since the recession. 

"Binghamton, which had been seeing job loss really since the great recession has finally started to stabilize and even see some modest growth," Abel added. 

When it comes to other regions of note, the experts say Albany is on the rise with moderate growth, while Elmira is on the decline. 

A representative from the Broome-Tioga Workforce said Broome County is projected to have thousands of job openings in the future. She expects an upward trend to continue to grow. 

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